Harmony Biosciences (NASDAQ:HRMY) Announces Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Harmony Biosciences (NASDAQ:HRMY) announced its quarterly earnings results on Tuesday. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11, Zacks reports. The firm had revenue of $201.30 million for the quarter, compared to analysts’ expectations of $201.25 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 earnings per share.

Harmony Biosciences Trading Down 0.1 %

Shares of HRMY traded down $0.02 during trading hours on Thursday, hitting $33.45. 133,427 shares of the stock traded hands, compared to its average volume of 614,245. The business has a fifty day moving average of $36.66 and a 200-day moving average of $35.81. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $1.91 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. Harmony Biosciences has a 1-year low of $28.14 and a 1-year high of $41.61.

Insiders Place Their Bets

In other news, insider Jeffrey Dierks sold 1,123 shares of Harmony Biosciences stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total transaction of $44,920.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total transaction of $774,228.09. The disclosure for this sale can be found here. In the last three months, insiders sold 72,452 shares of company stock valued at $2,831,679. 30.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HRMY. Mizuho lowered their target price on shares of Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. HC Wainwright cut their target price on shares of Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft started 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. Cantor Fitzgerald lifted their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Harmony Biosciences in a research note on Tuesday. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $53.11.

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.