Harmony Biosciences (NASDAQ:HRMY) Announces Earnings Results, Misses Expectations By $0.10 EPS

Key Points

• Harmony Biosciences reported earnings of $0.68 per share, missing analysts' expectations by $0.10, despite a year-over-year revenue increase of 16.0% to $200.49 million.
• The company maintained a net margin of 20.53% and a return on equity of 24.32%, indicating strong financial health even with the earnings miss.
• Following the announcement, Harmony Biosciences' stock fell to $34.23, with several analysts maintaining a consensus rating of "Buy" and a target price of $51.00.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.10), Zacks reports. Harmony Biosciences had a net margin of 20.53% and a return on equity of 24.32%. The firm had revenue of $200.49 million during the quarter, compared to analyst estimates of $204.37 million. During the same period last year, the business earned $1.05 EPS. The firm's revenue was up 16.0% compared to the same quarter last year. Harmony Biosciences updated its FY 2025 guidance to EPS.

Harmony Biosciences Stock Performance

HRMY traded down $1.32 during trading on Tuesday, hitting $34.23. The stock had a trading volume of 545,958 shares, compared to its average volume of 665,254. The company has a 50 day simple moving average of $34.09 and a 200-day simple moving average of $33.93. Harmony Biosciences has a 12 month low of $26.47 and a 12 month high of $41.61. The company has a current ratio of 3.67, a quick ratio of 3.63 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.97 billion, a PE ratio of 13.01, a P/E/G ratio of 0.47 and a beta of 0.84.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Truist Financial initiated coverage on shares of Harmony Biosciences in a report on Monday, July 21st. They issued a "buy" rating and a $48.00 price target on the stock. Mizuho raised their price objective on shares of Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Needham & Company LLC reiterated a "buy" rating and set a $49.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, May 6th. HC Wainwright restated a "buy" rating and set a $70.00 target price on shares of Harmony Biosciences in a report on Tuesday, April 8th. Finally, Cantor Fitzgerald upgraded shares of Harmony Biosciences to a "strong-buy" rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Harmony Biosciences presently has a consensus rating of "Buy" and a consensus target price of $51.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Harmony Biosciences by 53.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,389 shares of the company's stock worth $3,166,000 after purchasing an additional 33,058 shares during the period. Empowered Funds LLC acquired a new position in Harmony Biosciences in the first quarter valued at about $2,330,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Harmony Biosciences by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,651 shares of the company's stock valued at $752,000 after buying an additional 984 shares in the last quarter. Finally, Amundi raised its stake in shares of Harmony Biosciences by 115.6% in the first quarter. Amundi now owns 39,668 shares of the company's stock worth $1,229,000 after acquiring an additional 21,266 shares during the last quarter. Institutional investors own 86.23% of the company's stock.

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.

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