Research Analysts Offer Predictions for HRMY FY2024 Earnings

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) - Equities researchers at HC Wainwright issued their FY2024 earnings estimates for shares of Harmony Biosciences in a research note issued to investors on Tuesday, December 17th. HC Wainwright analyst P. Trucchio anticipates that the company will post earnings per share of $2.63 for the year. HC Wainwright currently 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 topic of several other research reports. Cantor Fitzgerald lifted their price objective on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Raymond James reiterated an "outperform" rating and issued a $40.00 price objective on shares of Harmony Biosciences in a research note on Thursday, October 10th. Oppenheimer reiterated an "outperform" rating and issued a $59.00 price objective (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Needham & Company LLC restated a "buy" rating and issued a $52.00 target price on shares of Harmony Biosciences in a research note on Tuesday, October 29th. Finally, UBS Group assumed coverage on Harmony Biosciences in a research report on Tuesday, September 10th. They set a "buy" rating and a $56.00 price target on the stock. Two research analysts have rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Harmony Biosciences currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.80.

Harmony Biosciences Stock Performance

Shares of NASDAQ:HRMY traded up $0.39 during midday trading on Friday, reaching $34.28. The company had a trading volume of 2,976,575 shares, compared to its average volume of 487,868. Harmony Biosciences has a 52-week low of $28.14 and a 52-week high of $41.61. The company's 50 day moving average price is $34.24 and its 200 day moving average price is $34.10. 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 stock has a market cap of $1.96 billion, a P/E ratio of 16.25, a P/E/G ratio of 0.60 and a beta of 0.79.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.15. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business had revenue of $186.00 million for the quarter, compared to analysts' expectations of $184.07 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The business's revenue was up 16.0% on a year-over-year basis.

Institutional Investors Weigh In On Harmony Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. nVerses Capital LLC purchased a new position in Harmony Biosciences during the second quarter worth about $36,000. CWM LLC grew its holdings in shares of Harmony Biosciences by 111.7% during the third quarter. CWM LLC now owns 1,469 shares of the company's stock worth $59,000 after purchasing an additional 775 shares in the last quarter. Quarry LP purchased a new position in shares of Harmony Biosciences during the second quarter worth about $62,000. Quantbot Technologies LP bought a new position in shares of Harmony Biosciences in the third quarter worth approximately $74,000. Finally, Headlands Technologies LLC raised its stake in Harmony Biosciences by 1,608.1% in the second quarter. Headlands Technologies LLC now owns 2,545 shares of the company's stock valued at $77,000 after purchasing an additional 2,396 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Insiders Place Their Bets

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the firm's stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total value of $869,943.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 30.80% of the stock is owned by corporate insiders.

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.