Harmony Biosciences (NASDAQ:HRMY) Announces Earnings Results

Harmony Biosciences (NASDAQ:HRMY) released its earnings results on Tuesday, February 24th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.46), Briefing.com reports. The business had revenue of $243.78 million during the quarter, compared to analysts’ expectations of $240.04 million. Harmony Biosciences had a return on equity of 19.86% and a net margin of 18.29%.The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period last year, the business earned $0.85 earnings per share.

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

• WAKIX commercial momentum: Q4 net product revenue was $243.8M (FY2025 $868.5M), the franchise added ~400+ average patients for a third consecutive quarter, and management is guiding 2026 WAKIX net revenue to blockbuster range of $1.0B–$1.04B.
• IP and litigation update: Harmony has settled with 6 of 7 ANDA filers and says generic entry would be no earlier than March 2030 if pediatric exclusivity is granted, but a trial and potential appeals remain outstanding.
• Pipeline and near-term catalysts: five ongoing Phase 3 registrational programs across CNS indications, Pitolisant GR NDA expected in Q2 2026 (PDUFA target Q1 2027), Pitolisant HD top-line planned for 2027 (PDUFA 2028), plus EPX-100 and an orexin?2 agonist advancing toward readouts.
• Rising spending and margin pressure: Q4 operating expenses rose to $136.7M (from $91.1M YoY) driven by R&D, commercialization and litigation costs, and non?GAAP adjusted net income fell to $33.4M ($0.57/sh) versus prior quarter levels.
• Strong balance sheet and cash generation: $882.5M in cash and investments and $348.2M cash from operations in 2025, which management says funds ongoing development, business development opportunities, and a $150M buyback capacity.

Harmony Biosciences Trading Down 0.2%

Shares of HRMY stock opened at $27.96 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.60 and a quick ratio of 3.58. The firm has a market cap of $1.62 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 0.38 and a beta of 0.88. The company has a 50-day moving average of $31.68 and a two-hundred day moving average of $32.72. Harmony Biosciences has a 1-year low of $25.52 and a 1-year high of $40.87.

Insider Activity

In other news, CFO Sandip Kapadia sold 3,746 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $37.15, for a total value of $139,163.90. Following the sale, the chief financial officer directly owned 24,521 shares of the company’s stock, valued at approximately $910,955.15. The trade was a 13.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 23.60% of the company’s stock.

Hedge Funds Weigh In On Harmony Biosciences

Hedge funds have recently made changes to their positions in the stock. ADAR1 Capital Management LLC purchased a new stake in Harmony Biosciences in the third quarter valued at approximately $282,000. Cetera Investment Advisers boosted its position in shares of Harmony Biosciences by 9.8% during the second quarter. Cetera Investment Advisers now owns 8,404 shares of the company’s stock worth $266,000 after buying an additional 748 shares during the period. Amundi purchased a new position in shares of Harmony Biosciences during the fourth quarter worth $239,000. Creative Planning purchased a new position in shares of Harmony Biosciences during the third quarter worth $237,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Harmony Biosciences in the fourth quarter valued at $233,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HRMY. Deutsche Bank Aktiengesellschaft cut Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a report on Monday, February 23rd. Mizuho set a $50.00 target price on Harmony Biosciences in a report on Thursday, February 19th. Truist Financial downgraded Harmony Biosciences from a “buy” rating to a “hold” rating in a research note on Monday, February 23rd. Needham & Company LLC reduced their price target on Harmony Biosciences from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Finally, Zacks Research cut shares of Harmony Biosciences from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Harmony Biosciences currently has a consensus rating of “Hold” and a consensus target price of $42.67.

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.