Harmony Biosciences (NASDAQ:HRMY) Posts Quarterly Earnings Results, Beats Expectations By $0.32 EPS

Harmony Biosciences (NASDAQ:HRMY) announced its earnings results on Tuesday. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.32, FiscalAI reports. The firm had revenue of $261.28 million during the quarter, compared to analysts’ expectations of $250.77 million. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The business’s revenue was up 30.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS.

Here are the key takeaways from Harmony Biosciences’ conference call:

• WAKIX sales reached a record $261.3 million in the second quarter, up 30% year over year and 21% sequentially. Harmony reiterated its 2026 net revenue guidance of $1.0 billion to $1.04 billion, supported by strong patient additions and expanded commercial resources.
• Harmony reported net income of $75.4 million, or $1.28 per diluted share, versus $39.8 million, or $0.68 per share, a year earlier. The company ended the quarter with approximately $962.5 million in cash and investments, providing substantial capacity for pipeline investment and acquisitions or licensing deals.
• Early Phase I data for BP-205 showed rapid absorption, an approximately 25-hour half-life supporting potential once-daily dosing, predictable exposure, and no serious or severe adverse events in the single-ascending-dose study. Harmony plans multiple ascending-dose data in the fourth quarter, an efficacy-focused study readout in early 2027, and Phase II trials across multiple CNS indications beginning in mid-2027.
• The pipeline continues to advance, including acceptance of the pitolisant GR NDA with an April 2027 PDUFA date and ongoing Phase III programs for pitolisant HD, Prader-Willi syndrome, and epilepsy. Several key readouts are now expected in 2027, extending the company’s development timeline.
• Harmony said it has settled with six of seven WAKIX generic filers and expects patent protection through March 2030, but litigation remains active with the final filer. Management is confident in its position, although the outcome of the remaining proceedings could affect WAKIX exclusivity.

Harmony Biosciences Stock Performance

HRMY stock traded up $0.14 during trading on Thursday, hitting $38.38. The company had a trading volume of 235,567 shares, compared to its average volume of 860,065. The firm has a 50-day moving average price of $34.91 and a 200-day moving average price of $32.55. The company has a quick ratio of 3.56, a current ratio of 3.48 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.22 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 0.36 and a beta of 0.96. Harmony Biosciences has a 1-year low of $25.52 and a 1-year high of $40.87.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. raised its stake in shares of Harmony Biosciences by 11.8% during the fourth quarter. Invesco Ltd. now owns 450,805 shares of the company’s stock worth $16,869,000 after purchasing an additional 47,517 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Harmony Biosciences in the 4th quarter valued at $525,000. State of Tennessee Department of Treasury increased its stake in Harmony Biosciences by 37.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 36,150 shares of the company’s stock valued at $1,320,000 after buying an additional 9,768 shares during the period. Mackenzie Financial Corp purchased a new position in Harmony Biosciences during the 4th quarter worth $1,529,000. Finally, Empowered Funds LLC raised its position in Harmony Biosciences by 56.9% during the 4th quarter. Empowered Funds LLC now owns 85,153 shares of the company’s stock worth $3,186,000 after buying an additional 30,882 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Truist Financial boosted their price objective on Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday. Needham & Company LLC raised their target price on shares of Harmony Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 target price on shares of Harmony Biosciences in a report on Thursday, July 16th. Weiss Ratings raised shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Finally, Zacks Research upgraded shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.50.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.