Harmony Biosciences (NASDAQ:HRMY) Announces Earnings Results, Misses Estimates By $0.21 EPS

Harmony Biosciences (NASDAQ:HRMY) released its earnings results on Thursday. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.21), FiscalAI reports. The firm had revenue of $215.39 million for the quarter, compared to analyst estimates of $220.84 million. Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.Harmony Biosciences’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 earnings per share.

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

• Harmony reported $215.4 million in Q1 net product revenue (up 17% YoY), about 8,500 average patients (8,600 exit), and reiterated full?year revenue guidance of $1.0B–$1.04B.
• The company is defending a multi?layered pitolisant IP estate after settling with 6 of 7 ANDA filers (LOE into March 2030) but faces ongoing ANDA litigation and a newly filed amorphous patent suit vs AET/Sandoz, creating legal uncertainty.
• BP?205 is presented as a potential best?in?class orexin?2 agonist with compelling preclinical data and is on track for phase I single ascending?dose PK topline data in mid?2026 and a U.S. IND submission later in 2026.
• Lifecycle programs are advancing — Pitolisant GR on track for NDA submission this quarter (PDUFA targeted Q1 2027), Pitolisant HD is enrolling two phase III trials (topline 2027), and Harmony has ~$878M cash to pursue BD opportunities targeting 2028–2032 revenues.

Harmony Biosciences Stock Down 1.4%

Harmony Biosciences stock traded down $0.43 during mid-day trading on Friday, hitting $30.99. The company’s stock had a trading volume of 750,798 shares, compared to its average volume of 947,323. The firm’s 50 day moving average is $29.01 and its 200 day moving average is $33.04. The company has a market cap of $1.79 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 0.43 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.58 and a quick ratio of 3.58. Harmony Biosciences has a 52-week low of $25.52 and a 52-week high of $40.87.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. National Bank of Canada FI acquired a new position in Harmony Biosciences in the 3rd quarter worth about $40,000. Kestra Advisory Services LLC acquired a new position in Harmony Biosciences in the 4th quarter worth about $47,000. PNC Financial Services Group Inc. increased its position in Harmony Biosciences by 30.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,663 shares of the company’s stock worth $100,000 after purchasing an additional 619 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Harmony Biosciences by 338.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,511 shares of the company’s stock worth $111,000 after acquiring an additional 2,711 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Harmony Biosciences during the 2nd quarter valued at about $120,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Harmony Biosciences News Roundup

Here are the key news stories impacting Harmony Biosciences this week:

• Positive Sentiment: Harmony Biosciences reaffirmed 2026 net revenue guidance of over $1 billion and said demand for WAKIX remained strong, which helps support the long-term outlook. Business Wire article
• Positive Sentiment: H.C. Wainwright reiterated a Buy rating and a $55 price target, citing positive discussions with senior management and reinforcing bullish sentiment on the stock. InsiderMonkey article
• Neutral Sentiment: Several articles noted Harmony Biosciences as a small-cap value name with a relatively low forward P/E, which may attract value investors but does not directly change the near-term earnings picture. InsiderMonkey article
• Neutral Sentiment: Truist raised its price target to $29 from $25 but kept a Hold rating, suggesting only limited upside from current levels. Tickerreport article
• Negative Sentiment: Q1 earnings of $0.55 per share missed estimates of $0.76, and revenue of $215.4 million also came in below expectations, which is the main reason shares are under pressure today. Zacks article
• Negative Sentiment: Management said Q1 market access headwinds were more pronounced this year, which may raise investor concerns about near-term execution even with strong year-over-year revenue growth. Business Wire article

Wall Street Analyst Weigh In

HRMY has been the subject of a number of recent analyst reports. Zacks Research upgraded Harmony Biosciences from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st. HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a research report on Wednesday, February 25th. Bank of America decreased their price target on Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating for the company in a research report on Wednesday, February 25th. Mizuho set a $50.00 price target on Harmony Biosciences in a research report on Thursday, February 19th. Finally, Weiss Ratings downgraded Harmony Biosciences from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Harmony Biosciences has an average rating of “Hold” and a consensus target price of $40.89.

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.