Brokers Set Expectations for HRMY FY2024 Earnings

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) – Analysts at HC Wainwright issued their FY2024 earnings per share estimates for Harmony Biosciences in a research note issued on Tuesday, December 17th. HC Wainwright analyst P. Trucchio forecasts that the company will post earnings of $2.63 per share for the year. HC Wainwright 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.

A number of other equities research analysts have also issued reports on the company. Oppenheimer reiterated an “outperform” rating and issued a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Cantor Fitzgerald lifted their price objective on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $52.00 target price on shares of Harmony Biosciences in a research report on Tuesday, October 29th. UBS Group assumed coverage on shares of Harmony Biosciences in a report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price target for the company. Finally, Mizuho boosted their price objective on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.80.

Harmony Biosciences Trading Up 1.2 %

NASDAQ:HRMY opened at $34.28 on Friday. The business’s 50-day moving average is $34.24 and its two-hundred day moving average is $34.10. The firm has a market capitalization of $1.96 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 0.60 and a beta of 0.79. Harmony Biosciences has a 12 month low of $28.14 and a 12 month high of $41.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.15. The company had revenue of $186.00 million during the quarter, compared to analyst estimates of $184.07 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 earnings per share.

Insider Transactions at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 21,496 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was 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 can be accessed through the SEC website. Insiders own 30.80% of the company’s stock.

Hedge Funds Weigh In On Harmony Biosciences

A number of hedge funds have recently added to or reduced their stakes in HRMY. Citigroup Inc. raised its holdings in shares of Harmony Biosciences by 9.8% during the third quarter. Citigroup Inc. now owns 177,843 shares of the company’s stock worth $7,114,000 after purchasing an additional 15,859 shares during the period. HighTower Advisors LLC raised its stake in Harmony Biosciences by 364.0% during the third quarter. HighTower Advisors LLC now owns 79,961 shares of the company’s stock worth $3,199,000 after acquiring an additional 62,729 shares during the period. Quest Partners LLC lifted its holdings in Harmony Biosciences by 137.6% in the third quarter. Quest Partners LLC now owns 35,723 shares of the company’s stock worth $1,429,000 after acquiring an additional 20,689 shares during the last quarter. Marshall Wace LLP boosted its stake in Harmony Biosciences by 145.4% in the second quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock valued at $9,220,000 after acquiring an additional 181,092 shares during the period. Finally, Rice Hall James & Associates LLC grew its holdings in shares of Harmony Biosciences by 42.1% during the second quarter. Rice Hall James & Associates LLC now owns 80,512 shares of the company’s stock valued at $2,429,000 after purchasing an additional 23,867 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

About Harmony Biosciences

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.