Harmony Biosciences (NASDAQ:HRMY) Issues Quarterly Earnings Results

Harmony Biosciences (NASDAQ:HRMY) posted its earnings results on Tuesday. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.46), Briefing.com reports. Harmony Biosciences had a return on equity of 24.88% and a net margin of 22.50%.The business had revenue of $243.78 million during the quarter, compared to the consensus estimate of $240.04 million. During the same period in the previous year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year.

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 $0.73 during trading on Tuesday, hitting $27.60. The company had a trading volume of 243,130 shares, compared to its average volume of 867,152. Harmony Biosciences has a 12 month low of $25.52 and a 12 month high of $40.87. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.72 and a current ratio of 3.75. The firm has a market capitalization of $1.59 billion, a P/E ratio of 8.85, a price-to-earnings-growth ratio of 0.27 and a beta of 0.84. The stock has a 50 day simple moving average of $36.79 and a 200 day simple moving average of $34.24.

Insider Activity at Harmony Biosciences

In other news, CEO Jeffrey M. Dayno sold 25,933 shares of the business’s stock in a transaction 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 is available at the SEC website. Also, CFO Sandip Kapadia sold 20,961 shares of the firm’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $35.92, for a total transaction of $752,919.12. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 50,640 shares of company stock worth $1,932,256 in the last ninety days. Insiders own 23.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HRMY. Dimensional Fund Advisors LP increased its holdings in shares of Harmony Biosciences by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,830,726 shares of the company’s stock worth $68,507,000 after buying an additional 139,145 shares during the last quarter. State Street Corp grew its position in Harmony Biosciences by 0.5% in the fourth quarter. State Street Corp now owns 1,661,850 shares of the company’s stock worth $62,186,000 after acquiring an additional 8,246 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Harmony Biosciences by 15.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,491,605 shares of the company’s stock worth $55,816,000 after acquiring an additional 196,224 shares during the last quarter. Geode Capital Management LLC raised its position in Harmony Biosciences by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 1,270,586 shares of the company’s stock valued at $47,551,000 after purchasing an additional 12,323 shares during the period. Finally, AQR Capital Management LLC raised its position in Harmony Biosciences by 128.9% during the fourth quarter. AQR Capital Management LLC now owns 813,889 shares of the company’s stock valued at $30,456,000 after purchasing an additional 458,321 shares during the period. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HRMY has been the subject of a number of research analyst reports. Zacks Research upgraded shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. HC Wainwright reiterated a “buy” rating on shares of Harmony Biosciences in a research note on Wednesday, December 3rd. UBS Group downgraded Harmony Biosciences from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $43.00 to $46.00 in a report on Wednesday, February 11th. Weiss Ratings restated a “hold (c)” rating on shares of Harmony Biosciences in a report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.50.

Harmony Biosciences Company Profile

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.