Harmony Biosciences (NASDAQ:HRMY) Issues Earnings Results, Beats Expectations By $0.11 EPS

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) released its quarterly earnings data on Tuesday. The company reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.11, Zacks reports. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The firm had revenue of $201.30 million during the quarter, compared to analyst estimates of $201.25 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The business's quarterly revenue was up 19.5% compared to the same quarter last year.

Harmony Biosciences Trading Up 3.4 %

Shares of NASDAQ:HRMY traded up $1.10 during trading on Friday, hitting $33.85. The company had a trading volume of 1,033,155 shares, compared to its average volume of 641,963. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth 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 company has a fifty day simple moving average of $36.64 and a two-hundred day simple moving average of $35.79. Harmony Biosciences has a one year low of $28.14 and a one year high of $41.61.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HRMY. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They set a "buy" rating and a $55.00 price objective on the stock. Mizuho reduced their price target on shares of Harmony Biosciences from $52.00 to $42.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. HC Wainwright dropped their price objective on shares of Harmony Biosciences from $75.00 to $70.00 and set a "buy" rating for the company in a report on Thursday. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 target price on shares of Harmony Biosciences in a report on Tuesday. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $53.11.

Insider Activity

In related news, insider Jeffrey Dierks sold 1,123 shares of Harmony Biosciences stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total transaction of $44,920.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandip Kapadia sold 25,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total transaction of $1,004,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,452 shares of company stock valued at $2,831,679. 30.80% of the stock is currently owned by 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.