Harmony Biosciences (NASDAQ:HRMY) Announces Quarterly Earnings Results

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

Harmony Biosciences Stock Down 1.1 %

Shares of NASDAQ HRMY opened at $34.18 on Tuesday. The stock has a market cap of $1.95 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. Harmony Biosciences has a 52-week low of $28.14 and a 52-week high of $41.61. The business has a 50-day moving average price of $36.59 and a 200 day moving average price of $35.81. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on HRMY shares. Cantor Fitzgerald raised their target price on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and set a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft initiated coverage on Harmony Biosciences in a report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Harmony Biosciences in a research note on Tuesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of Harmony Biosciences in a research report on Wednesday, February 19th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $53.67.

Insiders Place Their Bets

In other Harmony Biosciences news, CFO Sandip Kapadia sold 1,775 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $38.05, for a total transaction of $67,538.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey Dierks sold 10,507 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $37.01, for a total transaction of $388,864.07. The disclosure for this sale can be found here. Insiders have sold a total of 72,452 shares of company stock valued at $2,831,679 over the last quarter. Company insiders own 30.80% of the company’s stock.

Harmony Biosciences Company Profile

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.