Harmony Biosciences (NASDAQ:HRMY - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.15, Briefing.com reports. Harmony Biosciences had a net margin of 17.53% and a return on equity of 22.97%. The firm 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 company posted $0.63 EPS. The company's revenue was up 16.0% compared to the same quarter last year. Harmony Biosciences updated its FY 2024 guidance to EPS.
Harmony Biosciences Stock Down 18.5 %
Shares of Harmony Biosciences stock traded down $7.69 during trading hours on Wednesday, reaching $33.80. 2,887,437 shares of the company were exchanged, compared to its average volume of 422,945. The firm has a market cap of $1.92 billion, a PE ratio of 17.97, a PEG ratio of 0.69 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.13. Harmony Biosciences has a 1 year low of $22.00 and a 1 year high of $41.61. The stock's fifty day moving average is $36.50 and its 200 day moving average is $33.10.
Analyst Ratings Changes
A number of research analysts recently commented on the company. Mizuho upped their price objective on Harmony Biosciences from $42.00 to $52.00 and gave the company an "outperform" rating in a report on Thursday, October 10th. UBS Group started coverage on Harmony Biosciences in a report on Tuesday, September 10th. They set a "buy" rating and a $56.00 price target for the company. Oppenheimer reaffirmed an "outperform" rating and issued a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a research report on Wednesday. Raymond James reissued an "outperform" rating and issued a $40.00 price target on shares of Harmony Biosciences in a research note on Thursday, October 10th. Finally, Needham & Company LLC restated a "buy" rating and issued a $52.00 price objective on shares of Harmony Biosciences in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $47.00.
Check Out Our Latest Research Report on Harmony Biosciences
About Harmony Biosciences
(
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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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