Following these transactions, Dirks no longer held shares in the company. harmony (JO:) Biological Sciences, which maintains an excellent score in financial health according to InvestingPro The company holds more cash than debt on its balance sheet and shows strong liquidity with a current ratio of 3.24. The pharmaceutical company continues to focus on developing and commercializing innovative therapies for patients with rare neurological diseases.
Following these transactions, Dirks no longer held shares in the company. Harmony Biosciences, which maintains an excellent financial health score according to InvestingPro The company holds more cash than debt on its balance sheet and shows strong liquidity with a current ratio of 3.24. The pharmaceutical company continues to focus on developing and commercializing innovative therapies for patients with rare neurological diseases.
Following these transactions, Dirks no longer held shares in the company. Harmony Biosciences, which maintains an excellent financial health score according to InvestingPro The company holds more cash than debt on its balance sheet and shows strong liquidity with a current ratio of 3.24. The pharmaceutical company continues to focus on developing and commercializing innovative therapies for patients with rare neurological diseases.
In other recent news, Harmony Biosciences reported strong Q4 2024 earnings, with revenue reaching approximately $201 million, in line with HC Wainwright forecasts and slightly above consensus of $712 million. The company also expects revenue of about $714 million for the full year of 2024. Looking ahead, Harmony released revenue projections for 2025, which are estimated at between $820 million and $860 million.
In addition to financial performance, Harmony Biosciences has made significant progress across its product line. The company is awaiting a decision from the Food and Drug Administration on a complementary new drug application for WAKIX, its lead product, in the treatment of idiopathic hypersomnia, expected in the first quarter of 2025. Further developments are expected, including the possibility of starting the treatment for the first time on man. Studies of BP1.15205, an OX2R agonist, in Q3 2025, and key data from a pivotal phase III trial evaluating ZYN002 in fragile X syndrome by Q3 2025.
Analysts from HC Wainwright and Oppenheimer reaffirmed their confidence in the company, maintaining a Buy rating and Outperform rating, respectively. The former has a price target of $75.00 for the company's stock, while the latter raised his price target from $59 to $61. These ratings reflect analysts' expectations for continued momentum and growth prospects for Harmony Biosciences.
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