Harmony Biosciences (NASDAQ:HRMY) Issues Quarterly Earnings Results, Misses Expectations By $0.28 EPS

Posted by Brenda Bartman on Nov 4th, 2026

Harmony Biosciences (NASDAQ:HRMY – Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.81 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.28), FiscalAI reports. The firm had revenue of $268.92 million for the quarter, compared to analyst estimates of $272.05 million. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 EPS.

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

WAKIX growth remains strong: Third-quarter net revenue rose to $269 million, with 400 net patient additions and about 9,350 average patients. Harmony reiterated full-year guidance of $1 billion–$1.04 billion and said it expects to exceed $1 billion for the first time.
BP-205 showed encouraging early safety and pharmacokinetic results: In the 14-day multiple-ascending-dose study, the company reported once-daily dosing potential, no serious or severe treatment-emergent adverse events, and mild on-target effects that did not lead to discontinuations. A sleep-deprived volunteer study is expected to report data in Q1 2027, with Phase II studies planned for mid-2027; efficacy has not yet been established.
WAKIX patent litigation remains a key uncertainty: Harmony expressed confidence in protecting exclusivity through March 2030, but court decisions are pending, including an expected ruling around February 2027 and a preliminary-injunction hearing in January. The company has settled with six of seven ANDA filers.
Costs pressured earnings: Net income fell to $48 million from $51 million a year earlier, while cost of products sold rose to 30% of revenue from 25%. Harmony attributed the changes mainly to a new royalty and a $25 million milestone charge.
Harmony is pursuing business development to diversify growth: With more than $1 billion in cash and investments, the company is evaluating multiple potential deals, including near-term revenue assets and longer-term CNS pipeline opportunities. No transaction was announced.

Harmony Biosciences Price Performance

Harmony Biosciences stock traded down $2.43 during trading hours on Wednesday, hitting $34.59. The stock had a trading volume of 1,705,536 shares, compared to its average volume of 892,366. Harmony Biosciences has a 1-year low of $25.90 and a 1-year high of $43.49. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 0.31 and a beta of 1.00. The stock’s fifty day moving average is $39.73 and its two-hundred day moving average is $34.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.48 and a quick ratio of 3.45.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Truist Financial raised their target price on Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. WBB Securities upgraded Harmony Biosciences to a “hold” rating in a research report on Friday, October 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $42.00 price objective on shares of Harmony Biosciences in a report on Thursday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a report on Monday, October 19th. Finally, Oppenheimer reissued an “outperform” rating on shares of Harmony Biosciences in a research note on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

View Our Latest Report on HRMY

Insider Activity

In related news, insider Kumar Budur sold 35,852 shares of the business’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $43.05, for a total value of $1,543,428.60. Following the sale, the insider directly owned 13,115 shares in the company, valued at $564,600.75. The trade was a 73.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 72,406 shares of company stock worth $3,108,520. Insiders own 11.00% of the company’s stock.

Key Stories Impacting Harmony Biosciences

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

Positive Sentiment: WAKIX generated $269 million in Q3 net revenue, supported by 400 net patient additions. Harmony reiterated its full-year revenue guidance of $1.0 billion to $1.04 billion, keeping it on track to exceed $1 billion in WAKIX revenue. Company announcement
Positive Sentiment: The company announced strong multiple-ascending-dose data for its orexin agonist BP-205, supporting its potential best-in-class profile and offering a pipeline catalyst beyond WAKIX. Business Insider article
Negative Sentiment: Q3 adjusted earnings of $0.81 per share missed estimates of about $1.00–$1.09, and revenue of $268.9 million was below the $272.1 million consensus. Earnings were also lower than the $1.08 per share reported a year earlier, despite revenue growing 12.3% year over year. Zacks article

About Harmony Biosciences

(Get Free Report)

Harmony Biosciences Holdings, Inc is a commercial-stage biopharmaceutical company focused on developing and providing therapies for patients with rare neurological disorders. The company’s activities center on conditions involving sleep-wake regulation and other central nervous system disorders where treatment options may be limited.

Harmony’s principal product is WAKIX (pitolisant), an oral, non-scheduled treatment that acts as a histamine-3 receptor antagonist/inverse agonist. In the United States, WAKIX is approved for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy and for excessive daytime sleepiness in pediatric patients aged 6 and older with narcolepsy.