Harmony Biosciences Holdings, I (HRMY) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Harmony Biosciences Holdings, I

NasdaqGM•Healthcare•Biotechnology

$42.21+0.04(<0.01%)Pre-market

Market Cap

$2.48B

P/E

13.7x

P/S

2.6x

P/B

2.5x

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. It also develops Pitolisant that is in Phase 3 clinical trial for the treatment of Prader-Willi Syndrome (PWS); in Phase 2 clinical trial to treat Myotonic Dystrophy (DM1); and is in Phase 2 clinical trials for the treatment of Pitolisant Gastro-Resistant (GR) and Pitolisant High-Dose (HD). In addition, the company's products under development include BP1.15205, an orexin 2 receptor agonist for the treatment of narcolepsy and other potential indications; and HBS-102, a melanin-concentrating hormone receptor type 1 (MCHR1) antagonist. Further, it develops ZYN-002 that is in a Phase 3 registrational trial for the treatment of Fragile X Syndrome; and 22q Deletion Syndrome, a disorder caused by a small missing piece on the long arm of the 22nd chromosome. Additionally, the company is developing EPX-100 (clemizole hydrochloride), a serotonin (5HT-2) receptor agonist to treat dravet syndrome and lenox-gastaut syndrome; EPX-200 (liquid formulation of lorcaserin), a selective 5HT-2C agonist to treat developmental and epileptic encephalopathies; CBS105 for the treatment-resistant narcolepsy; and CBS104 for refractory epilepsy. The company was formerly known as Harmony Biosciences II, Inc. and changed its name to Harmony Biosciences Holdings, Inc. in February 2020. Harmony Biosciences Holdings, Inc. was incorporated in 2017 and is headquartered in Plymouth Meeting, Pennsylvania.

How this company scores

ExcellentMetricSide Score: 90/100

Strongest: Balance Sheet & Red Flags (25/25); weakest: Growth (20/25).

Profitability20/25

Growth20/25

Balance Sheet & Red Flags25/25

Cash & Earnings Quality25/25

Strengths

Growing revenueRising free cash flowStrong marginsHigh ROE

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 13.7x5y range 8.6x – 73.3x

Currently near its 19-quarter median.

P/S · 2.6x5y range 1.7x – 8.9x

Currently near its 20-quarter median.

P/B · 2.5x5y range 1.7x – 14.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Margin Pressure

Watch

Operating margins declined 17.9% — watch for continued compression, which may signal competitive or cost pressure.

Price & Volume

Market Cap $2.48B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $959.90M
Q. Revenue: $261.28M
TTM EBITDA: $254.50M
TTM Op. Income: $230.65M
Q. Op. Income: $89.32M
TTM Net Income: $181.27M
Q. Net Income: $75.43M
EPS: $1.3
Shares Out.: $57.93M

$959.90M in TTM revenue grew 24.3% YoY, reaching $261.28M last quarter. TTM EBITDA of $254.50M and TTM operating income of $230.65M show growth is flowing through to the bottom line. TTM net income of $181.27M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 75.8%
EBITDA Margin: 36.5%
Op. Margin: 34.2%
Net Margin: 28.9%

Op. margin of 34.2% is up 10.2% YoY — cost efficiency is improving. Net margin at 28.9% and gross margin of 75.8% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 13.7x
P/S Ratio: 2.6x
P/B Ratio: 2.5x

At 13.7x P/E, the stock trades below typical market levels. P/S of 2.6x and P/B of 2.5x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is up 36% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.37B
Cash: $549.77M
Long-Term Debt: $133.96M
Book Value: $999.24M
D/E Ratio: 0.1
Debt/EBITDA: 1.4

With $1.37B in assets and $133.96M in long-term debt, D/E is 0.1and book value is $999.24M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 7 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $92.43M
TTM Free Cash Flow: $354.90M
FCF Margin: 37.0%
FCF / Net Income: 2.0

TTM FCF of $354.90M on $92.43M in operating cash flow. The FCF / Net Income ratio of 2.0x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 37% — an improving trend.