Shares of Harmony Biosciences Holdings, Inc. (HRMY) soared 6.01% on Thursday, November 1st, following the release of the company's latest quarterly results and renewed interest from value investors.

In its earnings report, Harmony Biosciences reported a profit of $0.79 per share, surpassing analyst estimates by 19%. While revenues of $186 million were in line with expectations, the earnings beat was seen as a positive surprise by the market. However, analysts slightly trimmed their earnings per share forecasts for 2025 to $3.17, down from $3.26 previously, despite keeping revenue projections unchanged.

Separately, a value investing analysis highlighted Harmony Biosciences as potentially undervalued based on various valuation metrics. The stock's price-to-book, price-to-sales, and price-to-cash flow ratios all appeared attractive compared to industry averages. This renewed interest from value investors likely also contributed to the stock's surge on Thursday.

Overall, the combination of better-than-expected quarterly earnings and increased investor attention due to Harmony Biosciences' perceived undervaluation helped fuel the significant price movement. While analysts moderated their earnings outlook slightly, the company's solid revenue growth prospects and valuation multiples suggest the market sees further upside potential.