(HRMY) Harmony Biosciences Holdings - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US4131971040

Wakix, Pitolisant, Orexin-Agonist, MCHR1-Antagonist, ZYN-002

Stock: Pharmaceuticals
Age 5.4y

MCap 2,060m
Avg Vol 509K (19.1M USD)

Beta 0.539
Volatility 44.92%

EPS (Earnings per Share)

EPS CAGR: 32.12%
EPS Trend: 32.2%

Last SUE: 1.91
Qual. Beats: 2

Revenue

Rev. CAGR: 29.35%
Rev. Trend: 96.5%

Last SUE: 3.84
Qual. Beats: 1

Dividends

Currently no dividends paid

Risk via 5d forecast
Volatility	44.9%
Value at Risk 5%th	65.5%
Relative Tail Risk	-11.42%

Reward TTM
Sharpe Ratio	-0.04
Alpha	-13.55
CAGR/Max DD	-0.16

Character TTM
Hurst Exponent	0.629
Beta	0.539
Beta Downside	0.413

Drawdowns 3y
Max DD	61.35%
Mean DD	31.77%
Median DD	32.16%

Description: HRMY Harmony Biosciences Holdings January 13, 2026

Harmony Biosciences Holdings (NASDAQ:HRMY) is a commercial-stage biotech that targets rare and neurological disorders in the U.S., leveraging a pipeline centered on orexin-based and melanin-concentrating-hormone mechanisms.

Its only FDA-approved product, WAKIX (pitolisant), treats excessive daytime sleepiness in adult narcolepsy and generated ≈ $45 million in 2023 net sales, representing the bulk of HRMY’s revenue. The company is expanding pitolisant into new indications: Phase 3 for Prader-Willi Syndrome, Phase 2 for Myotonic Dystrophy (DM1), and early-stage Phase 1 programs for a gastro-resistant and high-dose formulation. Additional pipeline assets include BP1.15205 (orexin-2 agonist), HBS-102 (MCHR1 antagonist), ZYN-002 (Phase 3 for Fragile X and 22q-Deletion syndromes), EPX-100 (serotonin 5-HT2 agonist for Dravet and Lennox-Gastaut), and EPX-200 (lorcaserin liquid for DEE).

Key financial signals as of Q2 2024: cash and equivalents of ≈ $190 million, a runway extending into 2025, and a net loss of $68 million YoY, reflecting heavy R&D spend. The rare-disease neurology market is projected to grow at ~6% CAGR through 2030, driven by unmet needs and premium pricing, which underpins HRMY’s revenue upside if its pipeline clears regulatory milestones.

For a deeper, data-driven look at HRMY’s valuation and comparable peers, ValueRay’s analyst notes provide a concise, decision-ready overview.

Piotroski VR‑10 (Strict, 0-10) 6.0

Net Income (185.7m TTM) > 0 and > 6% of Revenue (6% = 49.6m TTM)

FCFTA 0.25 (>2.0%) and ΔFCFTA 0.85pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 74.51% (prev 52.96%; Δ 21.55pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.25 (>3.0%) and CFO 297.6m > Net Income 185.7m (YES >=105%, WARN >=100%)

Net Debt (-477.3m) to EBITDA (266.0m) ratio: -1.79 <= 3.0 (WARN <= 3.5)

Current Ratio 3.75 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (58.7m) change vs 12m ago 1.06% (target <= -2.0% for YES)

Gross Margin 77.70% (prev 78.65%; Δ -0.96pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 77.32% (prev 73.47%; Δ 3.86pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 15.81 (EBITDA TTM 266.0m / Interest Expense TTM 15.3m) >= 6 (WARN >= 3)

Altman Z'' 5.63

(A) 0.51 = (Total Current Assets 838.8m - Total Current Liabilities 223.4m) / Total Assets 1.21b

(B) 0.11 = Retained Earnings (Balance) 138.4m / Total Assets 1.21b

(D) 0.37 = Book Value of Equity 138.8m / Total Liabilities 373.1m

Total Rating: 5.63 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 91.90

1. Piotroski 6.0pt

2. FCF Yield 19.07%

3. FCF Margin 35.95%

4. Debt/Equity 0.20

5. Debt/Ebitda -1.79

6. ROIC - WACC (= 12.40)%

7. RoE 24.86%

8. Rev. Trend 96.54%

9. EPS Trend 32.24%

What is the price of HRMY shares?

As of January 19, 2026, the stock is trading at USD 36.22 with a total of 648,690 shares traded.
Over the past week, the price has changed by -5.36%, over one month by -3.34%, over three months by +39.20% and over the past year by -10.48%.

Is HRMY a buy, sell or hold?

Harmony Biosciences Holdings has received a consensus analysts rating of 4.33. Therefore, it is recommended to buy HRMY.

Strong Buy: 5
Buy: 3
Hold: 0
Sell: 1
Strong Sell: 0

What are the forecasts/targets for the HRMY price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	46.1	27.3%
Analysts Target Price	46.1	27.3%
ValueRay Target Price	39.4	8.8%

HRMY Fundamental Data Overview January 15, 2026

P/E Trailing = 11.2808
P/E Forward = 8.0321
P/S = 2.4937
P/B = 2.4663
Revenue TTM = 825.9m USD
EBIT TTM = 242.2m USD
EBITDA TTM = 266.0m USD
Long Term Debt = 148.5m USD (from longTermDebt, last quarter)
Short Term Debt = 20.8m USD (from shortTermDebt, last quarter)
Debt = 169.7m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -477.3m USD (from netDebt column, last quarter)
Enterprise Value = 1.56b USD (2.06b + Debt 169.7m - CCE 672.6m)
Interest Coverage Ratio = 15.81 (Ebit TTM 242.2m / Interest Expense TTM 15.3m)
EV/FCF = 5.24x (Enterprise Value 1.56b / FCF TTM 296.9m)
FCF Yield = 19.07% (FCF TTM 296.9m / Enterprise Value 1.56b)
FCF Margin = 35.95% (FCF TTM 296.9m / Revenue TTM 825.9m)
Net Margin = 22.48% (Net Income TTM 185.7m / Revenue TTM 825.9m)
Gross Margin = 77.70% ((Revenue TTM 825.9m - Cost of Revenue TTM 184.2m) / Revenue TTM)
Gross Margin QoQ = 75.09% (prev 80.97%)
Tobins Q-Ratio = 1.29 (Enterprise Value 1.56b / Total Assets 1.21b)
Interest Expense / Debt = 2.13% (Interest Expense 3.62m / Debt 169.7m)
Taxrate = 24.63% (16.6m / 67.5m)
NOPAT = 182.5m (EBIT 242.2m * (1 - 24.63%))
Current Ratio = 3.75 (Total Current Assets 838.8m / Total Current Liabilities 223.4m)
Debt / Equity = 0.20 (Debt 169.7m / totalStockholderEquity, last quarter 835.1m)
Debt / EBITDA = -1.79 (Net Debt -477.3m / EBITDA 266.0m)
Debt / FCF = -1.61 (Net Debt -477.3m / FCF TTM 296.9m)
Total Stockholder Equity = 747.0m (last 4 quarters mean from totalStockholderEquity)
RoA = 17.38% (Net Income 185.7m / Total Assets 1.21b)
RoE = 24.86% (Net Income TTM 185.7m / Total Stockholder Equity 747.0m)
RoCE = 27.04% (EBIT 242.2m / Capital Employed (Equity 747.0m + L.T.Debt 148.5m))
RoIC = 19.82% (NOPAT 182.5m / Invested Capital 920.9m)
WACC = 7.42% (E(2.06b)/V(2.23b) * Re(7.90%) + D(169.7m)/V(2.23b) * Rd(2.13%) * (1-Tc(0.25)))
Discount Rate = 7.90% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -33.33 | Cagr: -0.12%
[DCF Debug] Terminal Value 83.17% ; FCFF base≈266.2m ; Y1≈328.4m ; Y5≈559.3m
Fair Price DCF = 194.1 (EV 10.70b - Net Debt -477.3m = Equity 11.18b / Shares 57.6m; r=7.42% [WACC]; 5y FCF grow 25.0% → 2.90% )
EPS Correlation: 32.24 | EPS CAGR: 32.12% | SUE: 1.91 | # QB: 2
Revenue Correlation: 96.54 | Revenue CAGR: 29.35% | SUE: 3.84 | # QB: 1
EPS next Quarter (2026-03-31): EPS=1.13 | Chg30d=+0.107 | Revisions Net=-1 | Analysts=2
EPS next Year (2026-12-31): EPS=5.61 | Chg30d=-0.010 | Revisions Net=-1 | Growth EPS=+38.6% | Growth Revenue=+16.0%

Additional Sources for HRMY Stock

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