Harmony Biosciences (NASDAQ:HRMY) Issues Quarterly Earnings Results

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

Harmony Biosciences Stock Up 8.3 %

Shares of Harmony Biosciences stock opened at $37.01 on Wednesday. Harmony Biosciences has a 1-year low of $28.14 and a 1-year high of $41.61. The company has a market capitalization of $2.11 billion, a PE ratio of 17.54, a P/E/G ratio of 0.47 and a beta of 0.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The business has a 50-day moving average of $36.59 and a 200-day moving average of $35.81.

Insider Buying and Selling

In other Harmony Biosciences news, CFO Sandip Kapadia sold 1,775 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $38.05, for a total value of $67,538.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffrey Dierks sold 10,507 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was 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. Over the last 90 days, insiders have sold 72,452 shares of company stock worth $2,831,679. 30.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price target on shares of Harmony Biosciences in a research report on Wednesday, February 19th. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a report on Tuesday. Cantor Fitzgerald increased their target price on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Mizuho reduced their price objective on Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price target on the stock. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $53.67.

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.