Harmony Biosciences(US:HRMY) ZACKSยท2024-08-16 17:21Core Viewpoint - Harmony Biosciences Holdings, Inc. (HRMY) shows a significant improvement in earnings outlook, making it an attractive investment option as analysts continue to raise earnings estimates for the company [1][2]. Earnings Estimates - Analysts' optimism regarding Harmony Biosciences' earnings prospects is leading to higher estimates, which is expected to positively impact the stock price [2]. - The Zacks Rank system indicates a strong correlation between earnings estimate revisions and stock price movements, with Zacks 1 Ranked stocks averaging a +25% annual return since 2008 [3]. Current-Quarter Estimates - For the current quarter, Harmony Biosciences is projected to earn $0.60 per share, reflecting a -4.76% change from the previous year [4]. - The Zacks Consensus Estimate for the current quarter has increased by 5.26% over the last 30 days, with one estimate rising and another falling [4]. Current-Year Estimates - The company is expected to earn $2.19 per share for the full year, representing a +2.82% change from the prior year [5]. - Over the past month, two estimates have been revised upward for Harmony Biosciences, while one estimate was revised downward, resulting in an 8.6% increase in the consensus estimate [5]. Zacks Rank - Harmony Biosciences currently holds a Zacks Rank 2 (Buy) due to favorable estimate revisions, indicating strong potential for outperformance compared to the S&P 500 [6]. - Stocks with Zacks Rank 1 (Strong Buy) and 2 (Buy) have historically outperformed the market [6]. Stock Performance - Harmony Biosciences shares have increased by 7.9% over the past four weeks, suggesting investor confidence in the company's earnings growth prospects [7].