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

Harmony Biosciences (NASDAQ:HRMY) announced its quarterly earnings data on Tuesday. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.32, FiscalAI reports. The business had revenue of $261.28 million for the quarter, compared to analyst estimates of $250.77 million. Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. Harmony Biosciences’s revenue was up 30.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 earnings per share.

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 Trading Down 0.9%

Shares of Harmony Biosciences stock traded down $0.34 on Wednesday, hitting $38.44. The stock had a trading volume of 307,463 shares, compared to its average volume of 857,840. The stock has a 50 day moving average of $34.76 and a 200 day moving average of $32.54. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.56 and a current ratio of 3.58. Harmony Biosciences has a twelve month low of $25.52 and a twelve month high of $40.87. The firm has a market capitalization of $2.23 billion, a P/E ratio of 15.50, a PEG ratio of 0.33 and a beta of 0.96.

Key Harmony Biosciences News

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

• Positive Sentiment: Q2 results exceeded expectations: Harmony reported adjusted earnings of $1.28 per share, above consensus estimates of approximately $0.96–$0.97, while revenue rose 30.3% year over year to $261.3 million versus expectations of $250.8 million. Harmony Biosciences Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: WAKIX continues to drive growth: WAKIX net revenue reached a quarterly record, with estimated average patients increasing by 450 to 8,950. Management reiterated its 2026 WAKIX revenue guidance of $1.0 billion to $1.04 billion, indicating continued confidence in the commercial franchise. Harmony Announces Record Q2 Revenue and BP-205 Data
• Positive Sentiment: Analyst confidence improved: Needham raised its HRMY price target from $45 to $50 and maintained a Buy rating, implying substantial potential upside based on the referenced share price. Needham Raises Harmony Biosciences Price Target
• Positive Sentiment: Pipeline progress adds longer-term potential: Initial Phase 1 data for orexin-2 agonist BP-205 showed favorable pharmacokinetic, safety and tolerability results. The U.S. IND is open, with additional Phase 1b data expected in early 2027 and Phase 2 studies planned for mid-2027. Pitolisant generic regulatory review and the Pitolisant HD program also remain on schedule. Q2 2026 Results Earnings Presentation
• Neutral Sentiment: Investors still face execution and clinical risk: BP-205 remains in early-stage development, with pivotal progress and potential commercialization several years away. Management reiterated—not increased—full-year guidance, so further upside may depend on sustained WAKIX growth and successful pipeline readouts. Q2 2026 Earnings Call Transcript

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 target price on shares of Harmony Biosciences in a research report on Thursday, July 16th. Zacks Research raised Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Weiss Ratings raised shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Harmony Biosciences in a research note on Wednesday. Finally, UBS Group reiterated a “neutral” rating and issued a $37.00 price target on shares of Harmony Biosciences in a research report on Wednesday. One research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.12.

Institutional Trading of Harmony Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nebula Research & Development LLC lifted its stake in shares of Harmony Biosciences by 2.0% in the second quarter. Nebula Research & Development LLC now owns 17,403 shares of the company’s stock worth $550,000 after acquiring an additional 348 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Harmony Biosciences by 2.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,686 shares of the company’s stock valued at $717,000 after purchasing an additional 532 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Harmony Biosciences by 30.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,663 shares of the company’s stock valued at $100,000 after purchasing an additional 619 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Harmony Biosciences by 9.8% in the second quarter. Cetera Investment Advisers now owns 8,404 shares of the company’s stock valued at $266,000 after buying an additional 748 shares during the period. Finally, Bank of America Corp DE boosted its position in Harmony Biosciences by 0.3% during the second quarter. Bank of America Corp DE now owns 270,220 shares of the company’s stock valued at $8,539,000 after acquiring an additional 898 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

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.