Harmony Biosciences (NASDAQ:HRMY) Posts Earnings Results, Misses Expectations By $0.46 EPS

Harmony Biosciences (NASDAQ:HRMY) announced its earnings results on Tuesday. 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 the consensus estimate of $240.04 million. Harmony Biosciences had a return on equity of 24.88% and a net margin of 22.50%.Harmony Biosciences’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the company 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 Stock Performance

Shares of NASDAQ HRMY traded up $0.99 during trading on Tuesday, reaching $27.86. 174,846 shares of the company traded hands, compared to its average volume of 866,915. The firm has a 50 day simple moving average of $36.79 and a 200-day simple moving average of $34.24. Harmony Biosciences has a 52-week low of $25.52 and a 52-week high of $40.87. The stock has a market capitalization of $1.60 billion, a PE ratio of 8.92, a P/E/G ratio of 0.27 and a beta of 0.84. The company has a quick ratio of 3.72, a current ratio of 3.75 and a debt-to-equity ratio of 0.18.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Harmony Biosciences in a report on Monday, December 29th. Mizuho set a $50.00 target price on Harmony Biosciences in a research note on Thursday. Wall Street Zen upgraded Harmony Biosciences from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Truist Financial cut shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $42.00 target price on shares of Harmony Biosciences in a report on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.50.

Insider Activity at Harmony Biosciences

In other Harmony Biosciences news, CEO Jeffrey M. Dayno sold 25,933 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $40.11, for a total value of $1,040,172.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sandip Kapadia sold 3,746 shares of Harmony Biosciences stock in a transaction on Monday, January 26th. The stock was sold at an average price of $37.15, for a total transaction of $139,163.90. Following the transaction, the chief financial officer owned 24,521 shares in the company, valued at $910,955.15. This represents a 13.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 50,640 shares of company stock worth $1,932,256 in the last 90 days. 23.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Harmony Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of HRMY. Nebula Research & Development LLC lifted its position in Harmony Biosciences by 2.0% during the second quarter. Nebula Research & Development LLC now owns 17,403 shares of the company’s stock valued at $550,000 after purchasing an additional 348 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Harmony Biosciences by 2.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,686 shares of the company’s stock worth $717,000 after purchasing an additional 532 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Harmony Biosciences by 30.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,663 shares of the company’s stock worth $100,000 after buying an additional 619 shares during the period. Cetera Investment Advisers lifted its stake in shares of Harmony Biosciences by 9.8% during the 2nd quarter. Cetera Investment Advisers now owns 8,404 shares of the company’s stock worth $266,000 after acquiring an additional 748 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Harmony Biosciences by 0.3% in the second quarter. Bank of America Corp DE now owns 270,220 shares of the company’s stock worth $8,539,000 after purchasing an additional 898 shares during the period. 86.23% of the stock is owned by institutional investors.

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.