Harmony Biosciences (NASDAQ:HRMY) Announces Quarterly Earnings Results

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

Harmony Biosciences Trading Down 1.1 %

NASDAQ:HRMY opened at $34.18 on Tuesday. Harmony Biosciences has a 52-week low of $28.14 and a 52-week high of $41.61. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $36.59 and a 200-day simple moving average of $35.81. The company has a market capitalization 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.

Insider Activity at Harmony Biosciences

In related news, CFO Sandip Kapadia sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total value of $1,004,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Dierks sold 1,123 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total value of $44,920.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,452 shares of company stock valued at $2,831,679. Insiders own 30.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price target for the company. Oppenheimer reissued an “outperform” rating and issued a $59.00 price target (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Cantor Fitzgerald upped 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. HC Wainwright reissued a “buy” rating and issued a $75.00 target price on shares of Harmony Biosciences in a report on Wednesday, February 19th. Finally, Mizuho lowered their price target on shares of Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $53.67.

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.