FY2024 Earnings Estimate for HRMY Issued By HC Wainwright

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) – Research analysts at HC Wainwright issued their FY2024 earnings per share estimates for shares of Harmony Biosciences in a report released on Tuesday, December 17th. HC Wainwright analyst P. Trucchio expects that the company will earn $2.63 per share for the year. HC Wainwright currently has a “Buy” rating and a $75.00 price target 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.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, beating 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%. Harmony Biosciences’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS.

Other research analysts have also recently issued research reports about the stock. Raymond James reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Harmony Biosciences in a report on Thursday, October 10th. UBS Group started coverage on Harmony Biosciences in a research report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price target for the company. Cantor Fitzgerald boosted their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and set a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat.com, Harmony Biosciences has an average rating of “Moderate Buy” and a consensus target price of $49.80.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $34.28 on Friday. The firm’s 50-day moving average price is $34.24 and its 200-day moving average price is $34.13. 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 firm has a market capitalization 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 has a 1-year low of $28.14 and a 1-year high of $41.61.

Insider Activity

In related news, insider Jeffrey Dierks sold 21,496 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total transaction of $869,943.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 30.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Harmony Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. raised its position in Harmony Biosciences by 0.6% during the 2nd quarter. Pacer Advisors Inc. now owns 2,509,609 shares of the company’s stock valued at $75,715,000 after purchasing an additional 14,695 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Harmony Biosciences by 13.3% in the second quarter. Dimensional Fund Advisors LP now owns 956,785 shares of the company’s stock worth $28,871,000 after acquiring an additional 112,197 shares during the period. American Century Companies Inc. boosted its holdings in Harmony Biosciences by 53.7% in the second quarter. American Century Companies Inc. now owns 681,536 shares of the company’s stock valued at $20,562,000 after acquiring an additional 238,140 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Harmony Biosciences by 27.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company’s stock valued at $26,416,000 after purchasing an additional 140,690 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Harmony Biosciences by 56.7% in the 2nd quarter. Renaissance Technologies LLC now owns 595,800 shares of the company’s stock worth $17,975,000 after purchasing an additional 215,700 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

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.