Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Expected to Announce Earnings of $0.25 Per Share

Equities analysts expect Harmony Biosciences Holdings, Inc. (NASDAQ:HRMYGet Rating) to post $0.25 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Harmony Biosciences’ earnings, with estimates ranging from $0.15 to $0.30. Harmony Biosciences posted earnings per share of $0.38 during the same quarter last year, which suggests a negative year-over-year growth rate of 34.2%. The company is expected to announce its next quarterly earnings report before the market opens on Monday, January 1st.

On average, analysts expect that Harmony Biosciences will report full year earnings of $1.66 per share for the current financial year, with EPS estimates ranging from $1.17 to $2.06. For the next year, analysts forecast that the company will report earnings of $2.89 per share, with EPS estimates ranging from $2.61 to $3.30. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Harmony Biosciences.

Harmony Biosciences (NASDAQ:HRMYGet Rating) last released its quarterly earnings data on Monday, February 28th. The company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. Harmony Biosciences had a net margin of 11.33% and a return on equity of 75.85%. During the same period last year, the firm posted $0.25 EPS.

A number of brokerages have weighed in on HRMY. Zacks Investment Research raised shares of Harmony Biosciences from a “sell” rating to a “hold” rating in a report on Wednesday, March 2nd. Cantor Fitzgerald started coverage on shares of Harmony Biosciences in a research report on Thursday, April 14th. They issued an “overweight” rating and a $63.00 price objective for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $52.60.

In other Harmony Biosciences news, Director Andreas Wicki sold 92,501 shares of Harmony Biosciences stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $40.24, for a total value of $3,722,240.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeffrey Dierks sold 14,471 shares of Harmony Biosciences stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $49.63, for a total transaction of $718,195.73. The disclosure for this sale can be found here. In the last ninety days, insiders sold 685,752 shares of company stock worth $30,841,465. Insiders own 28.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in Harmony Biosciences by 242.2% during the second quarter. Royal Bank of Canada now owns 2,293 shares of the company’s stock worth $65,000 after buying an additional 1,623 shares during the last quarter. Invesco Ltd. acquired a new position in Harmony Biosciences during the second quarter worth $213,000. Wells Fargo & Company MN increased its holdings in Harmony Biosciences by 41.4% during the second quarter. Wells Fargo & Company MN now owns 9,761 shares of the company’s stock worth $276,000 after buying an additional 2,857 shares during the last quarter. Morgan Stanley increased its holdings in Harmony Biosciences by 101.7% during the second quarter. Morgan Stanley now owns 128,756 shares of the company’s stock worth $3,634,000 after buying an additional 64,929 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Harmony Biosciences during the third quarter worth $315,000. Institutional investors own 53.82% of the company’s stock.

NASDAQ HRMY opened at $50.97 on Friday. The company has a current ratio of 5.29, a quick ratio of 5.21 and a debt-to-equity ratio of 1.02. The company has a fifty day simple moving average of $46.17 and a 200 day simple moving average of $41.52. The company has a market cap of $3.01 billion, a P/E ratio of 87.88 and a beta of 0.51. Harmony Biosciences has a 1 year low of $25.09 and a 1 year high of $54.00.

About Harmony Biosciences (Get Rating)

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, develops and commercializes therapies for patients with rare neurological disorders in the United States. Its product, WAKIX is a medication for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.

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Earnings History and Estimates for Harmony Biosciences (NASDAQ:HRMY)

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