Brokerages predict that Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) will announce sales of $80.85 million for the current quarter, Zacks reports. Two analysts have provided estimates for Harmony Biosciences’ earnings, with the lowest sales estimate coming in at $77.40 million and the highest estimate coming in at $84.30 million. Harmony Biosciences reported sales of $45.61 million during the same quarter last year, which indicates a positive year over year growth rate of 77.3%. The firm is expected to issue its next earnings results on Thursday, November 11th.
According to Zacks, analysts expect that Harmony Biosciences will report full year sales of $306.85 million for the current financial year, with estimates ranging from $298.10 million to $315.60 million. For the next year, analysts forecast that the firm will post sales of $513.60 million, with estimates ranging from $440.90 million to $586.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Harmony Biosciences.
Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Monday, August 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. Harmony Biosciences had a net margin of 9.86% and a return on equity of 66.92%. The business had revenue of $73.82 million for the quarter, compared to analyst estimates of $70.85 million.
In related news, CEO John C. Jacobs sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, September 13th. The shares were sold at an average price of $35.93, for a total transaction of $898,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey M. Dayno sold 2,159 shares of the stock in a transaction on Thursday, August 26th. The stock was sold at an average price of $35.01, for a total transaction of $75,586.59. Following the completion of the sale, the insider now directly owns 1,600 shares of the company’s stock, valued at approximately $56,016. The disclosure for this sale can be found here. In the last three months, insiders sold 42,159 shares of company stock valued at $1,460,926. Company insiders own 28.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in shares of Harmony Biosciences by 5.4% in the first quarter. Janus Henderson Group PLC now owns 1,153,783 shares of the company’s stock valued at $38,120,000 after purchasing an additional 59,334 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Harmony Biosciences by 449.0% in the 1st quarter. Nuveen Asset Management LLC now owns 55,764 shares of the company’s stock worth $1,842,000 after buying an additional 45,607 shares during the last quarter. Polaris Capital Management LLC bought a new position in shares of Harmony Biosciences in the 2nd quarter worth about $872,000. Virtus ETF Advisers LLC lifted its position in shares of Harmony Biosciences by 2.8% in the 1st quarter. Virtus ETF Advisers LLC now owns 15,322 shares of the company’s stock worth $506,000 after buying an additional 423 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in shares of Harmony Biosciences by 237.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,753 shares of the company’s stock worth $49,000 after buying an additional 1,233 shares during the last quarter. Institutional investors and hedge funds own 47.65% of the company’s stock.
HRMY stock traded down $0.23 during trading on Friday, reaching $36.56. 5,989 shares of the company were exchanged, compared to its average volume of 228,571. The company has a market cap of $2.08 billion and a P/E ratio of 159.96. Harmony Biosciences has a 52-week low of $25.09 and a 52-week high of $52.74. The stock’s 50 day moving average price is $31.66 and its 200 day moving average price is $30.70. The company has a debt-to-equity ratio of 1.55, a quick ratio of 5.46 and a current ratio of 5.59.
About Harmony Biosciences
Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, develops and commercializes therapies for patients with rare neurological disorders. Its product, WAKIX is a medication for the treatment of excessive daytime sleepiness in adult patients with narcolepsy in the United States.
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