Harmony Biosciences (HRMY)
Commercializes WAKIX for narcolepsy while developing next-generation pitolisant and rare-neurology therapies.
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Sells WAKIX through U.S. specialty pharmacies for excessive daytime sleepiness and cataplexy in narcolepsy, then reinvests product cash flow in next-generation pitolisant and rare-neurology candidates. WAKIX supplies all revenue, leaving results tied to a licensed franchise, reimbursement, patent protection, and FDA outcomes.
Commercializes WAKIX, an oral once-daily treatment for excessive daytime sleepiness and cataplexy in narcolepsy, through U.S. specialty pharmacies. A dedicated commercial team manages sales, market access, and product distribution. The Bioprojet-licensed medicine generates all revenue within a single rare-neurological-diseases segment.
Extends the pitolisant franchise through Pitolisant GR and Pitolisant HD while developing BP-205, an orexin-2 receptor agonist, and EPX-100 for Dravet and Lennox-Gastaut syndromes. WAKIX cash generation funds clinical development and additional licensing across sleep/wake and rare epilepsy. Operations and revenue remain U.S.-based, and results depend on WAKIX demand, reimbursement, patent protection, licensed rights, and FDA outcomes.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 26, 2026 | Wolfe Research | Initiate | Rating: —Target: — | Target: $60 |
| Aug 5, 2026 | Deutsche Bank | Reiterate | Rating: —Target: $36 | Target: $39 |
| Aug 5, 2026 | Truist Financial | Target | Target: $45 | Target: $34 |
| Aug 5, 2026 | UBS | Reiterate | Rating: —Target: $46 | Target: $37 |
| Aug 4, 2026 | Oppenheimer | Reiterate | Rating: —Target: $62 | Target: $70 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $667.8M · Total debt $154.0M · Total assets $1.37B · Shareholders' equity $999.2M
- Revenue
- $261.3M
- Operating income
- $89.3M
- Net income
- $75.4M
No dividends on record.
| Institutions | 93.76% | 54.60M shares | |
|---|---|---|---|
| 336 holders · as of Jun 30, 2026 | |||
| Insiders | 0.09% | 53.3K shares | |
| 6 holders · as of Sep 18, 2026 | |||
| Strategic holders | 29.73% | 17.31M shares | |
| 4 holders · as of Feb 10, 2025 | |||
| Adds to | 123.58% | ||
58.24M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 123.58%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 12.20% | 7.10M | as of Jun 30, 2026 |
Marshman Fund Trust IIStrategic10 percent owner | 10.39% | 6.05M | filed Feb 10, 2025 |
HBM Healthcare Investments (Cayman) Ltd.Strategic | 7.80% | 4.55M | filed Feb 11, 2022 |
Vivo Capital VIII, LLCStrategic | 7.38% | 4.30M | filed Feb 11, 2022 |
FMR LLCInstitution | 6.14% | 3.57M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 18, 2026 | Kumar Budur | officer: CHIEF MEDICAL OFFICER | −35,852 | $43.05 |
| Sep 17, 2026 | Kumar Budur | officer: CHIEF MEDICAL OFFICER | −800 | $43.00 |
| Sep 16, 2026 | Kumar Budur | officer: CHIEF MEDICAL OFFICER | −1,800 | $43.01 |
| Sep 8, 2026 | Kumar Budur | officer: CHIEF MEDICAL OFFICER | −28,454 | $42.96 |
| Sep 4, 2026 | Kumar Budur | officer: CHIEF MEDICAL OFFICER | −5,500 | $41.98 |
- Jazz Pharmaceuticals
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- Alkermes
Once-nightly oxybate plus orexin pipeline pressure
- Axsome Therapeutics
Sunosi and AXS-12 pressure narcolepsy symptom markets
- Takeda (ADR)
Late-stage orexin agonist could reset NT1 treatment
- Amneal Pharmaceuticals
Generic sodium oxybate pressures WAKIX on price
- Stoke Therapeutics
Disease-modifying Dravet pipeline overlaps EPX-100
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Harmony Biosciences | $41.50 | −0.08% | $2.40B | 13.5 | 10.4 | 2.5 | +30.3% |
| Jazz Pharmaceuticals | $236.93 | −1.51% | $15.11B | 16.4 | 9.4 | 3.3 | +15.6% |
| Alkermes | $42.30 | −2.29% | $7.26B | 113.0 | — | 4.4 | +27.0% |
| Axsome Therapeutics | $197.57 | −2.72% | $10.45B | — | 1,178.8 | 13.5 | +44.2% |
| Takeda (ADR) | $18.88 | −0.40% | $60.30B | 52.9 | 60.0 | 2.0 | +4.2% |
| Amneal Pharmaceuticals | $18.99 | −2.62% | $6.23B | 40.0 | 19.1 | 2.0 | +9.9% |
| Stoke Therapeutics | $27.88 | −4.54% | $1.88B | — | — | 68.3 | −32.5% |
| Median | 46.5 | 39.5 | 3.8 | +12.7% |