HARMONY BIOSCIENCES Reports Second Quarter Earnings Results for FY2023
August 7, 2023
☀️Earnings Overview
HARMONY BIOSCIENCES ($NASDAQ:HRMY) announced on June 30 2023 that their earnings results for the second quarter of FY2023 showed total revenue of USD 134.2 million, a 25.4% increase compared to the same period in the previous year. Additionally, net income also rose 45.8%, reaching USD 34.3 million.
Stock Price
The stock opened at $37.4 and closed at $34.0, representing a 3.9% decrease from its previous closing price of 35.4. Additionally, HARMONY BIOSCIENCES announced that it is continuing its focus on research and development in order to further advance its therapeutic solutions. Overall, it was an encouraging quarter for HARMONY BIOSCIENCES with strong financial results and progress in key areas. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Harmony Biosciences. More…
| Total Revenues | Net Income | Net Margin |
| 498.86 | 200.24 | 40.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Harmony Biosciences. More…
| Operations | Investing | Financing |
| 158.17 | -141.83 | 6.84 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Harmony Biosciences. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 760.18 | 275.01 | 8.09 |
Key Ratios Snapshot
Some of the financial key ratios for Harmony Biosciences are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 98.4% | – | 29.5% |
| FCF Margin | ROE | ROA |
| 31.7% | 19.8% | 12.1% |
Analysis
At GoodWhale, we recently conducted an analysis of HARMONY BIOSCIENCES‘s wellbeing. Our Risk Rating showed that this company is a high risk investment in terms of financial and business aspects. We detected four risk warnings in the income sheet, balance sheet, cashflow statement, and financial journal. If you’re interested in knowing more, register with us to get access to these warnings. We believe this information can help you make an informed decision about investing in HARMONY BIOSCIENCES. More…
Peers
The company has a number of competitors, including Tryp Therapeutics Inc, BioCardia Inc, Impel Pharmaceuticals Inc.
– Tryp Therapeutics Inc ($OTCPK:TRYPF)
Tryp Therapeutics is a clinical-stage biopharmaceutical company focused on the discovery and development of novel small molecule drugs to treat patients with cancer and other diseases. The company’s lead product candidate is TRP-1201, a mitogen-activated protein kinase (MAPK) inhibitor, which is currently in Phase 1/2 clinical trials for the treatment of solid tumors. Tryp has also entered into a strategic collaboration with Janssen Biotech, Inc. to develop and commercialize TRP-1201 in oncology indications.
– BioCardia Inc ($NASDAQ:BCDA)
CardiAQ Valve Technologies, Inc., a development stage company, focuses on the development and commercialization of transcatheter mitral valve replacement therapies to treat patients suffering from mitral valve disease. Its products include the CardiAQ-TMVR System, a transcatheter mitral valve replacement device that is delivered percutaneously through a femoral vein approach and implanted in the native mitral valve; and the CardiAQ-EDGE System, an annuloplasty ring delivery system for transcatheter mitral valve repair. The company was formerly known as BioCardia, Inc. and changed its name to CardiAQ Valve Technologies, Inc. in July 2014. CardiAQ Valve Technologies, Inc. was founded in 2002 and is based in Menlo Park, California.
CardiAQ Valve Technologies has a market capitalization of $34.45 million and a return on equity of -106.23%. The company focuses on the development and commercialization of transcatheter mitral valve replacement therapies to treat patients suffering from mitral valve disease. CardiAQ Valve Technologies’ products include the CardiAQ-TMVR System, a transcatheter mitral valve replacement device that is delivered percutaneously through a femoral vein approach and implanted in the native mitral valve; and the CardiAQ-EDGE System, an annuloplasty ring delivery system for transcatheter mitral valve repair.
– Impel Pharmaceuticals Inc ($NASDAQ:IMPL)
Impel Pharmaceuticals Inc is a publicly traded company with a market cap of $95.19 million as of 2022. The company has a return on equity of -359.89%. Impel Pharmaceuticals is a specialty pharmaceutical company that develops, manufactures, and markets prescription and over-the-counter drugs. The company’s products include treatments for allergies, colds, and flu, as well as gastrointestinal disorders.
Summary
HARMONY BIOSCIENCES recently reported their second-quarter earnings for FY2023 with total revenue growing by 25.4% year-over-year to USD 134.2 million, while net income increased 45.8% to USD 34.3 million. Despite the strong financial performance, the stock price dropped the same day of the announcement. While short-term investors may have been disappointed by the stock’s reaction, longer-term investors may be encouraged by the company’s increasing profitability and growth. Due to its strong financial performance, HARMONY BIOSCIENCES may be an attractive investment opportunity for those looking for a long-term investment.
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