FY2024 Earnings Estimate for HRMY Issued By HC Wainwright

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) – Investment analysts at HC Wainwright issued their FY2024 earnings per share (EPS) estimates for Harmony Biosciences in a note issued to investors on Tuesday, December 17th. HC Wainwright analyst P. Trucchio expects that the company will post earnings of $2.63 per share for the year. HC Wainwright has a “Buy” rating and a $75.00 price objective on the stock. The consensus estimate for Harmony Biosciences’ current full-year earnings is $2.36 per share. HC Wainwright also issued estimates for Harmony Biosciences’ Q4 2024 earnings at $0.97 EPS, Q1 2025 earnings at $0.80 EPS, Q2 2025 earnings at $0.93 EPS, Q3 2025 earnings at $1.03 EPS, Q4 2025 earnings at $1.10 EPS, FY2025 earnings at $3.85 EPS, FY2026 earnings at $5.49 EPS, FY2027 earnings at $6.61 EPS and FY2028 earnings at $7.03 EPS.

HRMY has been the subject of a number of other research reports. UBS Group started coverage on Harmony Biosciences in a research report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $52.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, October 29th. Oppenheimer reaffirmed 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, October 30th. Cantor Fitzgerald increased their price target on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Mizuho lifted their price objective on Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.80.

Harmony Biosciences Stock Performance

Shares of HRMY opened at $34.28 on Friday. Harmony Biosciences has a 12 month low of $28.14 and a 12 month high of $41.61. The business’s fifty day simple moving average is $34.24 and its two-hundred day simple moving average is $34.13. 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 company has a market cap of $1.96 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 0.60 and a beta of 0.79.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.15. The business had revenue of $186.00 million during the quarter, compared to analysts’ expectations of $184.07 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 earnings per share.

Institutional Investors Weigh In On Harmony Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HRMY. LSV Asset Management increased its stake in shares of Harmony Biosciences by 72.5% in the second quarter. LSV Asset Management now owns 578,246 shares of the company’s stock worth $17,446,000 after purchasing an additional 243,100 shares in the last quarter. American Century Companies Inc. increased its stake in Harmony Biosciences by 53.7% in the 2nd quarter. American Century Companies Inc. now owns 681,536 shares of the company’s stock worth $20,562,000 after buying an additional 238,140 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Harmony Biosciences by 56.7% in the second quarter. Renaissance Technologies LLC now owns 595,800 shares of the company’s stock valued at $17,975,000 after acquiring an additional 215,700 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Harmony Biosciences by 145.4% in the second quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock worth $9,220,000 after acquiring an additional 181,092 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Harmony Biosciences by 27.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company’s stock worth $26,416,000 after purchasing an additional 140,690 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Insider Buying and Selling at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 21,496 shares of Harmony Biosciences stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total transaction of $869,943.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 30.80% of the stock is currently owned by corporate 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.