Harmony Biosciences Holdings (HRMY) Fair Value & Analysis
Healthcare · US · Market cap $2.1B · ISIN US4131971040
What is Harmony Biosciences Holdings really worth?
Harmony Biosciences Holdings
HRMY · US
A solid business, trading 31% below our fair value of $60.30.
Strengths
Risks
Fair value as of: Aug 31, 2026
From 26 valuation models · updated 5 days ago
Share price +7.9% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The rarer combination: high quality (73/100) AND below fair value. That earns a closer look rather than a quick verdict.
- The price is below even our cautious bear case ($45.23). The market is more pessimistic than our downside scenario.
- A fairly wide model range ($45.23 to $116.93) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 31, 2026.
How to read this chart
60‑month range $19.20 – $60.91 · fair‑value band $45.23 – $116.93 · the $41.86 price screens below the $60.30 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 31, 2026.
Analysis
Harmony Biosciences Holdings (HRMY) currently trades at $41.86, while our model-based Fair Value estimate is $60.30, implying the stock looks roughly 30.6% undervalued today. The Quality Score stands at 73/100 (solid quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of $133.62 per share, and 21 of the 26 models we run sit above the $41.86 price. Bear case: the Asset-Based group reads lowest at $10.07, and 5 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Harmony Biosciences Holdings generated revenue of $899M at a net margin of 16.2%. Revenue grew 16.6% year over year. It earns a return on equity of 17.9%. The balance sheet holds a net cash position of $513M. Fundamentals as of Aug 31, 2026
Our scenario range runs from $45.23 (bear case) to $116.93 (bull case); at $41.86, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 64% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −59% fair-value upside, at 44%, HRMY screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $1.68 per share, which is 2.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: DCF Models ($133.62) versus Dividend Discount ($1.32). Highest evidence: FCF DCF (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 31, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 75 · Market factors (momentum, volatility) 66
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
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.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Harmony Biosciences Holdings reported revenue of $868M in FY2025 versus $305M in FY2021, a compound +29.9%/yr. Reported net income was $159M in FY2025, compounding +46.3%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
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Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Harmony Biosciences to Participate in 2026 Cantor Global Healthcare Conference
- Harmony Biosciences (HRMY) Is Up 9.0% After Q2 Earnings Jump And Pipeline Progress - What's Changed
Peer Group
Biotechnology · 622 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Biotechnology median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Biotechnology stocks, each showing price versus our Fair Value estimate (as of Aug 31, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Vertex Pharmaceuticals Incorporated VRTX | $547.55 | $278.78 | −49% |
| Regeneron Pharmaceuticals, Inc REGN | $807.71 | $594.40 | −26% |
| argenx SE ARGX | €877.60 | €292.84 | −67% |
| Samsung Biologics Co 207940 | 1,518,000 KRW | 1,055,793 KRW | −30% |
| CSL Limited CSL | A$174.50 | A$141.68 | −19% |
| Alnylam Pharmaceuticals, Inc ALNY | $228.61 | $51.70 | −77% |
| Royalty Pharma plc RPRX | $60.58 | $24.22 | −60% |
| Celltrion, Inc 068270 | 190,700 KRW | 74,519 KRW | −61% |
| BeOne Medicines AG ONC | $362.51 | $111.35 | −69% |
| BioNTech SE BNTX | $111.40 | $45.66 | −59% |
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