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/HRMY
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Harmony Biosciences Holdings Inc

Harmony Biosciences Holdings Inc

HRMY
$33.77USD↑+0.72%+0.24 today

MARKET CAP

2.0B

P/E (TTM)

13.6x

FWD P/E

8.4x

DAY RANGE

$33 – $34

52W RANGE

$26
$41

AI Summary

Stalk
StalkMedium

HRMY is in a Stage 2 corrective reset within its broader uptrend, holding above the rising 50 DMA but with short EMAs flattened and offering resistance. Medium-term bias remains bullish on the Advancing phase and structural support, while short-term timing is unfavorable. Patience is warranted for a pullback into the 9/21 EMAs or 50 DMA to confirm support before engaging.

  • ↑Q1 2026 revenue $215.4M (+17% YoY) with full-year guidance >$1B demonstrates robust growth.
  • ↑Cash and equivalents of $870.5M support late-stage trials and M&A optionality.
  • ↓Operating expenses surged to $133.6M, dragging Q1 net income to $32.5M.
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Harmony Biosciences Holdings, Inc. (NASDAQ: HRMY) is a biotech company specializing in developing and commercializing innovative therapies for central nervous system (CNS) disorders, particularly narcolepsy. The company is well-positioned in the CNS therapeutic domain with its flagship product, WAKIX (pitolisant), which has demonstrated steady growth and market acceptance. Harmony's focus on addressing sleep/wake disorders through effective therapies aligns with the aging population's increasing demand for healthcare innovations and the broader trend of personalized medicine.

Bull says

  • ↑Q1 2026 revenue $215.4M (+17% YoY) with full-year guidance >$1B demonstrates robust growth.
  • ↑Cash and equivalents of $870.5M support late-stage trials and M&A optionality.
  • ↑BP205 orexin-2 agonist pivotal trial data expected soon, expanding CNS portfolio.
  • ↑WAKIX payer coverage above 80% and non-scheduled profile bolster market share.
  • ↑Average analyst price target of $42.50 and low P/B inclusion signal valuation upside.
  • ↑Qualitative factor strengths: high earnings yield, solid profitability, and positive revisions.

Bear says

  • ↓Operating expenses surged to $133.6M, dragging Q1 net income to $32.5M.
  • ↓Patent litigation risks and emerging orexin agonists threaten WAKIX exclusivity.
  • ↓High R&D spend and negative dividend yield limit shareholder returns.
  • ↓Payer coverage variability and seasonal headwinds may delay patient uptake.
  • ↓Elevated stock volatility and small-cap liquidity deter risk-averse investors.
  • ↓Lower institutional ownership and stiff competition add execution uncertainty.

Investment themes with HRMY

Pharmaceuticals↓ -1.67%

Drug development driving global healthcare solutions

JNJ · LLY · RPRX

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-08-2026neutral

Transcript signals

Bull points

  • we are on track to receive single ascending dose clinical PK data in the middle of this year.
  • it's our intent to invest in this program with regards to where we are now, additional compounds, and look at the broad opportunity with not just BP205, but other compounds that we're working on.
  • So with that, we're on track to achieve full-year guidance of over a billion dollars,

Bear points

  • With respect to R&D, we would, in fact, expect a ramp-up in R&D expense as we move forward on these trials and accelerate these trials.
  • That legal process continues. It's currently in post-trial briefs. And that part of the process will be completed towards the end of May.
  • but to be clear, you know, our coverage has not changed.
Read full transcript analysis ›