Harmony Biosciences (NASDAQ:HRMY) Releases Quarterly Earnings Results, Beats Expectations By $0.34 EPS

Harmony Biosciences (NASDAQ:HRMY) announced its quarterly earnings results on Tuesday. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.34, Briefing.com reports. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The company had revenue of $201.30 million for the quarter, compared to analysts’ expectations of $201.25 million. During the same period in the prior year, the company posted $0.45 EPS. Harmony Biosciences’s revenue was up 19.5% compared to the same quarter last year.

Harmony Biosciences Stock Down 1.1 %

HRMY stock opened at $34.18 on Tuesday. The company’s 50 day moving average is $36.59 and its 200 day moving average is $35.81. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. Harmony Biosciences has a 1-year low of $28.14 and a 1-year high of $41.61.

Wall Street Analyst Weigh In

Several research firms have issued reports on HRMY. Mizuho dropped their target price on Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Cantor Fitzgerald increased their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Harmony Biosciences in a research note on Tuesday. Oppenheimer reiterated an “outperform” rating and set a $59.00 price target (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Finally, HC Wainwright restated a “buy” rating and issued a $75.00 price objective on shares of Harmony Biosciences in a research report on Wednesday, February 19th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Harmony Biosciences currently has a consensus rating of “Buy” and a consensus target price of $53.67.

Insider Buying and Selling at Harmony Biosciences

In other news, CFO Sandip Kapadia sold 25,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total transaction of $1,004,500.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey Dierks sold 10,507 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total value of $388,864.07. The disclosure for this sale can be found here. Insiders sold a total of 72,452 shares of company stock worth $2,831,679 over the last three months. 30.80% of the stock is owned by insiders.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.