Harmony Biosciences (NASDAQ:HRMY - Get Free Report) issued its earnings results on Tuesday. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07, Yahoo Finance reports. The company had revenue of $154.62 million for the quarter, compared to analyst estimates of $154.10 million. Harmony Biosciences had a net margin of 22.16% and a return on equity of 27.49%. The business's revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 EPS. Harmony Biosciences updated its FY 2024 guidance to EPS.
Harmony Biosciences Stock Down 2.1 %
Shares of Harmony Biosciences stock traded down $0.64 on Wednesday, hitting $30.27. 783,153 shares of the company's stock traded hands, compared to its average volume of 396,711. The stock has a market cap of $1.72 billion, a P/E ratio of 14.39, a PEG ratio of 0.41 and a beta of 0.73. The company has a quick ratio of 2.72, a current ratio of 2.75 and a debt-to-equity ratio of 0.38. The firm's 50-day moving average is $31.24 and its 200 day moving average is $30.01. Harmony Biosciences has a 52-week low of $18.61 and a 52-week high of $39.26.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Bank of America restated an "underperform" rating and set a $30.00 target price on shares of Harmony Biosciences in a research report on Tuesday, January 2nd. Needham & Company LLC restated a "buy" rating and set a $50.00 target price on shares of Harmony Biosciences in a research report on Tuesday. The Goldman Sachs Group boosted their price objective on shares of Harmony Biosciences from $25.00 to $28.00 and gave the stock a "sell" rating in a research report on Tuesday, January 9th. Mizuho decreased their price objective on shares of Harmony Biosciences from $42.00 to $40.00 and set a "buy" rating on the stock in a research report on Tuesday, February 27th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $49.00 price objective on shares of Harmony Biosciences in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $40.63.
Check Out Our Latest Report on HRMY
Insider Activity
In related news, insider Jeffrey Dierks sold 11,979 shares of the firm's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $32.00, for a total transaction of $383,328.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 30.80% of the company's stock.
About Harmony Biosciences
(
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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