HRMY Stock Analysis: Harmony Biosciences Holdings | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 2.229m USD | 12M Return: 37.2% | US4131971040 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 32.6M
EPS Trend: 56.3%
Qual. Beats: 0
Rev. Trend: 99.8%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 6.1 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Harmony Biosciences Holdings (NASDAQ: HRMY) is a U.S.-based, commercial-stage pharmaceutical company focused on developing and commercializing therapies for rare neurological diseases. Its lead marketed product is WAKIX (pitolisant), a first-in-class molecule approved for excessive daytime sleepiness in adults with narcolepsy. The company is headquartered in Plymouth Meeting, Pennsylvania, was incorporated in 2017, and went public in August 2020.
Beyond WAKIX, Harmony is advancing a pipeline that includes pitolisant in multiple indications-Prader-Willi Syndrome (Phase 3), Myotonic Dystrophy type 1 (Phase 2), and Gastro-Resistant/High-Dose formulations (Phase 2)-alongside earlier-stage assets such as an orexin-2 receptor agonist (BP1.15205) and an MCHR1 antagonist (HBS-102). The company is also developing ZYN-002 in a Phase 3 registrational trial for Fragile X Syndrome, with work also targeting 22q Deletion Syndrome, and a portfolio of central nervous system candidates (EPX-100, EPX-200, CBS105, CBS104) aimed at developmental and epileptic encephalopathies, Dravet and Lennox-Gastaut syndromes, treatment-resistant narcolepsy, and refractory epilepsy.
As a rare-disease specialty pharmaceutical company, Harmonys business model centers on commercializing high-margin, orphan and specialty neurology drugs in the U.S., leveraging favorable regulatory designations (orphan drug, breakthrough therapy) and concentrated prescriber networks to support pricing power and patient access. Rare-disease therapies typically target small patient populations with limited competition, but rely on continued pipeline advancement to sustain long-term growth beyond lead-asset exclusivity.
- WAKIX sales growth drives narcolepsy market share gains
- Pitolisant Phase 3 Prader-Willi Syndrome data readout approaches
- Competition from Xywav and Sunosi pressures WAKIX pricing
| Net Income: 181.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.26 > 0.02 and ΔFCF/TA 2.50 > 1.0 |
| NWC/Revenue: 60.45% < 20% (prev 66.17%; Δ -5.72% < -1%) |
| CFO/TA 0.26 > 3% & CFO 355.1m > Net Income 181.3m |
| Net Debt (-513.8m) to EBITDA (276.4m): -1.86 < 3 |
| Current Ratio: 3.48 > 1.5 & < 3 |
| Outstanding Shares: last quarter (58.8m) vs 12m ago 0.59% < -2% |
| Gross Margin: 75.42% > 18% (prev 78.34%; Δ -2.92% > 0.5%) |
| Asset Turnover: 77.38% > 50% (prev 69.72%; Δ 7.65% > 0%) |
| Interest Coverage Ratio: 18.62 > 6 (EBIT TTM 251.1m / Interest Expense TTM 13.5m) |
| A: 0.42 (Total Current Assets 814.3m - Total Current Liabilities 234.1m) / Total Assets 1.37b |
| B: 0.20 (Retained Earnings 268.8m / Total Assets 1.37b) |
| C: 0.20 (EBIT TTM 251.1m / Avg Total Assets 1.24b) |
| D: 2.67 (Book Value of Equity 999.2m / Total Liabilities 373.8m) |
| Altman-Z'' = 7.58 = AAA |
| DSRI: 0.96 (Receivables 111.0m/93.0m, Revenue 959.9m/772.5m) |
| GMI: 1.04 (GM 78.34% / 75.42%) |
| AQI: 1.08 (AQ_t 0.40 / AQ_t-1 0.37) |
| SGI: 1.24 (Revenue 959.9m / 772.5m) |
| TATA: -0.13 (NI 181.3m - CFO 355.1m) / TA 1.37b) |
| Beneish M = -2.82 (Cap -4..+1) = A |
As of October 23, 2026, the stock is trading at USD 36.03 with a total of 2,905,344 shares traded. Over the past week, the price has changed by -5.85%, over one month by -13.24%, over three months by +3.36% and over the past year by +37.15%.
Current recommended Stop Loss: 34.30 (which is 4.8% or 1.3 ATR below the current price).
Harmony Biosciences Holdings has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy HRMY.
- StrongBuy: 5
- Buy: 2
- Hold: 3
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 48.3 | 33.9% |
P/E Trailing = 12.3452
P/E Forward = 10.0604
P/S = 2.3218
P/B = 2.3601
Revenue TTM = 959.9m USD
EBIT TTM = 251.1m USD
EBITDA TTM = 276.4m USD
Long Term Debt = 134.0m USD (from longTermDebt, last quarter)
Short Term Debt = 20.0m USD (from shortTermDebt, last quarter)
Debt = 154.0m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -513.8m USD (calculated: Debt 154.0m - CCE 667.8m)
Enterprise Value = 1.71b USD (2.23b + Debt 154.0m - CCE 667.8m)
Interest Coverage Ratio = 18.62 (Ebit TTM 251.1m / Interest Expense TTM 13.5m)
EV/FCF = 4.83x (Enterprise Value 1.71b / FCF TTM 354.9m)
FCF Yield = 20.70% (FCF TTM 354.9m / Enterprise Value 1.71b)
FCF Margin = 36.97% (FCF TTM 354.9m / Revenue TTM 959.9m)
Net Margin = 18.88% (Net Income TTM 181.3m / Revenue TTM 959.9m)
Gross Margin = 75.42% ((Revenue TTM 959.9m - Cost of Revenue TTM 235.9m) / Revenue TTM)
Gross Margin QoQ = 75.81% (prev 79.33%)
Tobins Q-Ratio = 1.25 (Enterprise Value 1.71b / Total Assets 1.37b)
Interest Expense / Debt = 8.76% (Interest Expense 13.5m / Debt 154.0m)
Taxrate = 24.85% (59.9m / 241.2m)
NOPAT = 188.7m (EBIT 251.1m * (1 - 24.85%))
Current Ratio = 3.48 (Total Current Assets 814.3m / Total Current Liabilities 234.1m)
Debt / Equity = 0.15 (Debt 154.0m / totalStockholderEquity, last quarter 999.2m)
Debt / EBITDA = -1.86 (Net Debt -513.8m / EBITDA 276.4m)
Debt / FCF = -1.45 (Net Debt -513.8m / FCF TTM 354.9m)
Total Stockholder Equity = 903.7m (last 4 quarters mean from totalStockholderEquity)
RoA = 14.61% (Net Income 181.3m / Total Assets 1.37b)
RoE = 20.06% (Net Income TTM 181.3m / Total Stockholder Equity 903.7m)
RoCE = 24.19% (EBIT 251.1m / Capital Employed (Equity 903.7m + L.T.Debt 134.0m))
RoIC = 16.98% (NOPAT 188.7m / Invested Capital 1.11b)
WACC = 7.25% (E(2.23b)/V(2.38b) * Re(7.30%) + D(154.0m)/V(2.38b) * Rd(8.76%) * (1-Tc(0.25)))
Discount Rate = 7.30% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 92.96 | Cagr: 0.90%
[DCF] Terminal Value 77.97% ; FCFF base≈316.4m ; Y1≈362.7m ; Y5≈533.8m
[DCF] Fair Price = 146.8 (EV 8.03b - Net Debt -513.8m = Equity 8.55b / Shares 58.2m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 56.32 | EPS CAGR: 7.07% | SUE: 0.81 | # QB: 0
Revenue Correlation: 99.79 | Revenue CAGR: 21.90% | SUE: 1.23 | # QB: 1
EPS current Quarter (2026-09-30): EPS=1.47 | Chg30d=+0.00% | Revisions=+50% | Analysts=2
EPS current Year (2026-12-31): EPS=5.22 | Chg30d=+0.00% | Revisions=+17% | GrowthEPS=+45.1% | GrowthRev=+18.6%
EPS next Year (2027-12-31): EPS=7.00 | Chg30d=+4.76% | Revisions=-17% | GrowthEPS=+34.1% | GrowthRev=+13.2%
[Analyst] Revisions Ratio: +25% (up=6, down=3)