Harmony Biosciences Holdings, Inc. (HRMY) stock surged 5.17% in pre-market trading on Tuesday following the release of its better-than-expected first-quarter financial results. The rare neurological disease-focused pharmaceutical company reported adjusted earnings of $1.03 per diluted share, significantly surpassing the FactSet analyst consensus estimate of $0.83 per share.
The company's strong performance was further underscored by its impressive revenue growth. Harmony Biosciences posted Q1 product revenue of $184.73 million, exceeding analysts' expectations of $182.9 million. This represents a substantial increase from $154.6 million in the same quarter last year. Additionally, the company reported a robust gross profit of $152.739 million and an operating income of $56.245 million for the quarter.
Investors were also encouraged by Harmony Biosciences' reaffirmation of its full-year 2025 revenue guidance. The company maintains its outlook of $820 million to $860 million in product revenue, aligning with the current FactSet analyst consensus of $840.4 million. This positive outlook, combined with the strong Q1 results, has bolstered investor confidence in Harmony Biosciences' growth trajectory, driving the stock's pre-market rally.
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