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HRMY

Harmony Biosciences Holdings, Inc.
$38.89
+0.49% 2026-10-21
Health CareS&P 600
-5%+12%+30%+47%+65%Oct 2025Apr 2026Oct 2026
HRMYSPY
1W
+3.7%
1M
-7.6%
3M
+11.6%
6M
+21.6%
YTD
+3.9%
1Y
+48.7%

Live chart

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What they do

Harmony Biosciences Holdings, Inc., a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.

Healthcare · Biotechnology

Grades vs sector

Momentum
71st pct in sector
B
12-1 return: +37.4%
Percentile within its GICS sector across the S&P 1500.
Growth
88th pct in sector
A
Revenue growth (YoY): +30.3%
Percentile within its GICS sector across the S&P 1500.
Value
97th pct in sector
A+
Forward E/P: 18.5% · EBITDA/EV: 15.0%
Percentile within its GICS sector across the S&P 1500.
Profitability
77th pct in sector
B+
Profit margin: +18.9% · Return on equity: +20.5%
Percentile within its GICS sector across the S&P 1500.
Revisions
Not enough data yet
–
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Not held by any of our 5 live models right now.

Quality Growth
not ranked (outside this model's universe or screens)
Momentum Top 15
not ranked (outside this model's universe or screens)
Momentum Blend
not in the current book
New Highs Growth
rank 40 of 589 · 12-1 momentum % 42.5
Conviction 20
not in the current book

News

More news
Harmony Biosciences to Report Third Quarter 2026 Financial Results on November 4, 2026
GlobeNewswire · Oct 20
HRMY Stock Gains 27.6% in Six Months: Is There More Room for Growth?
Zacks · Oct 16
Why Harmony Biosciences Stock Got Mashed on Monday
Motley Fool · Oct 12
Harmony Bio CEO Plans His Exit, And Shares Take An Unharmonious Hit
Investor's Business Daily · Oct 12
Harmony Biosciences Promotes COO Peter Anastasiou to President, CEO
MT Newswires · Oct 12

Key stats

Market cap$2.3B
P/E (trailing)12.5
P/E (forward)5.6
52-week range25.90 – 43.49
Revenue growth (YoY, latest qtr)+30.3%
Dividend yield0.00%
Analyst consensusBuy (12)
Mean price target$48.25 (+24%)
Valuation and fundamentals

Valuation & fundamentals

Bottom line
Looks undervalued
Model read-out from the numbers below, not advice. Score +4 (DCF counts double).
▲DCF (base case)above the price by 857%
▲Forward P/E vs sector5.6x vs median 17.6x
•Piotroski F-score5/9
▲Altman Z5.7 (safe)
▲Net debt / EBITDA-2.2x
▲Analyst target+24% (12 analysts)

Discounted cash flow

Bear
$174
+348%
growth 17% · disc. 10.3% · term. 2.0%
Base
$372
+857%
growth 28% · disc. 9.3% · term. 2.5%
Bull
$685
+1662%
growth 35% · disc. 8.3% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal
Today's price implies shrinking cash flows: about -13% a year for 10 years.
Implied
-13%/yr
FCF, last 3 yrs
+34%/yr
FCF, last 5 yrs
n/a
Revenue, last 3 yrs
+26%/yr
Revenue, last 5 yrs
+40%/yr
Same inputs as the DCF above: trailing free cash flow 0.4B, 9.3% discount rate, 2.5% growth after year 10, net cash and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.01 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Health Care

P/E (trailing)
sector median 29.9× · 6th pct
12.5×
cheaper
Forward P/E
sector median 17.6× · 3rd pct
5.6×
cheaper
EV / EBITDA
sector median 15.8× · 8th pct
7.6×
cheaper
Price / sales
sector median 3.1× · 37th pct
2.4×
cheaper
Price / book
sector median 3.5× · 28th pct
2.3×
cheaper
FCF yield
sector median 4.1% · 98th pct
15.7%
cheaper

Forward EPS $7.00 vs trailing $3.10 (+126% expected growth). Forward P/E uses analysts' next-12-month estimate.

Quality & financial health

Gross margin
75.4%
Operating margin
24.0%
FCF margin
37.0%
Net margin
18.9%
Return on equity
18.1%
Return on invested capital
35.7%
Net debt / EBITDA
-2.2×
Current ratio
3.5×
Interest cover
17.1×
Cash conversion (OCF/NI)
2.0×
Piotroski F-score 5/9 · last two fiscal years
✓ Positive net income✓ Positive operating cash flow✗ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✓ Current ratio improved✗ No share dilution✗ Gross margin improved✗ Asset turnover improved

Altman Z-score 5.7 (safe zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target
$48
+24%
Analysts
12
Buy
Range
$30–$70
low – high
● price · ◆ mean target

Annual history

FYRevenueNet incomeFree cash flow
2025$868.5M$158.7M$347.9M
2024$714.7M$145.5M$218.7M
2023$582.0M$128.9M$219.1M
2022$437.9M$181.5M$144.3M
2021$305.4M$34.6M$98.3M
2020$159.7M$-36.9M$-3.0M

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +25.6%.

Earnings

Next report: 2026-11-04 · before open · EPS est 1.47
24-1025-0225-0525-0825-1126-0226-0526-080.001.50
EstimateActual (beat)Actual (miss)
ReportEPS estActualSurprise
2026-08-041.151.50+30.6%
2026-05-070.930.79-15.9%
2026-02-241.070.57-46.5%
2025-11-040.861.08+25.4%
2025-08-050.960.92-3.7%
2025-05-060.911.03+12.7%
2025-02-250.821.08+32.2%
2024-10-290.881.03+16.7%

Quarterly revenue

QuarterRevenueYoY
2026-06-30$261.3M+30.3%
2026-03-31$215.4M–
2025-12-31$243.8M–
2025-09-30$239.5M–
2025-06-30$200.5M–
Analyst actions
Needham
2026-10-19 · reit
Buy → Buy
PT $50
HC Wainwright & Co.
2026-10-13 · reit
Buy → Buy
PT $55
Needham
2026-10-12 · reit
Buy → Buy
PT $50
Wolfe Research
2026-08-26 · init
→ Outperform
PT $60
Truist Securities
2026-08-05 · main
Hold → Hold
PT $34
Needham
2026-08-04 · main
Buy → Buy
PT $50

Stats refreshed 2026-10-21 11:28:47 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

COTEAU

Coteau Systematic Strategies publishes stock research and model portfolios. It doesn't manage money or give investment advice. Results are hypothetical unless marked Live. Data: Yahoo Finance (delayed) and SEC EDGAR.