Harmony Biosciences (NASDAQ:HRMY) Releases Earnings Results, Beats Expectations By $0.15 EPS

by · The Cerbat Gem

Harmony Biosciences (NASDAQ:HRMY – Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.15, Briefing.com reports. Harmony Biosciences had a return on equity of 22.97% and a net margin of 17.53%. The business had revenue of $186.00 million for the quarter, compared to analyst estimates of $184.07 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The company’s revenue was up 16.0% on a year-over-year basis. Harmony Biosciences updated its FY 2024 guidance to EPS.

Harmony Biosciences Price Performance

Shares of HRMY stock traded down $6.53 during trading hours on Wednesday, hitting $34.96. 839,953 shares of the company’s stock were exchanged, compared to its average volume of 413,195. The company has a quick ratio of 3.09, a current ratio of 3.13 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.99 billion, a P/E ratio of 17.93, a P/E/G ratio of 0.69 and a beta of 0.73. The firm has a 50 day moving average of $36.50 and a two-hundred day moving average of $33.10. Harmony Biosciences has a fifty-two week low of $22.00 and a fifty-two week high of $41.61.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price on shares of Harmony Biosciences in a research report on Tuesday. Raymond James reiterated an “outperform” rating and issued a $40.00 target price on shares of Harmony Biosciences in a research report on Thursday, October 10th. UBS Group assumed coverage on Harmony Biosciences in a research report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and issued a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a research report on Wednesday. Finally, Mizuho boosted their price target on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Get Our Latest Analysis on HRMY

Harmony Biosciences Company Profile

(Get Free Report)

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.

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