FY2024 Earnings Estimate for Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Issued By Cantor Fitzgerald

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) – Analysts at Cantor Fitzgerald boosted their FY2024 EPS estimates for shares of Harmony Biosciences in a research report issued to clients and investors on Wednesday, August 7th. Cantor Fitzgerald analyst C. Duncan now forecasts that the company will post earnings of $2.52 per share for the year, up from their previous forecast of $1.93. The consensus estimate for Harmony Biosciences’ current full-year earnings is $1.79 per share.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.24. Harmony Biosciences had a net margin of 22.30% and a return on equity of 28.26%. The company had revenue of $172.80 million for the quarter, compared to the consensus estimate of $172.53 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The company’s revenue for the quarter was up 28.8% compared to the same quarter last year.

Several other analysts also recently issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $52.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, August 6th. Citigroup assumed coverage on shares of Harmony Biosciences in a report on Friday, June 21st. They issued a “buy” rating and a $48.00 target price on the stock. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.67.

Harmony Biosciences Price Performance

Shares of NASDAQ:HRMY opened at $33.84 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.07 and a current ratio of 3.11. The business’s fifty day moving average price is $31.69 and its two-hundred day moving average price is $31.39. The stock has a market cap of $1.92 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 0.81 and a beta of 0.72. Harmony Biosciences has a one year low of $18.61 and a one year high of $39.26.

Institutional Investors Weigh In On Harmony Biosciences

A number of institutional investors have recently bought and sold shares of HRMY. Dimensional Fund Advisors LP raised its stake in Harmony Biosciences by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 956,785 shares of the company’s stock worth $28,871,000 after purchasing an additional 112,197 shares during the period. American Century Companies Inc. raised its position in shares of Harmony Biosciences by 53.7% in the 2nd quarter. American Century Companies Inc. now owns 681,536 shares of the company’s stock worth $20,562,000 after buying an additional 238,140 shares during the period. Renaissance Technologies LLC boosted its holdings in Harmony Biosciences by 56.7% in the second quarter. Renaissance Technologies LLC now owns 595,800 shares of the company’s stock valued at $17,975,000 after acquiring an additional 215,700 shares during the last quarter. LSV Asset Management grew its position in Harmony Biosciences by 72.5% during the second quarter. LSV Asset Management now owns 578,246 shares of the company’s stock valued at $17,446,000 after acquiring an additional 243,100 shares during the period. Finally, Federated Hermes Inc. increased its stake in Harmony Biosciences by 2,132.8% during the fourth quarter. Federated Hermes Inc. now owns 525,337 shares of the company’s stock worth $16,968,000 after acquiring an additional 501,809 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

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.