Harmony Biosciences Holdings

HRMY · NASDAQ

$38.70+$1.16 (+3.09%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $37.54

HRMY analyst rating

HoldConsensus of 9 analysts over the last 12 months. 44% rate it a buy.

Strong buy0
Buy4
Hold4
Underperform1
Sell0

12-month price target · 13 analysts

Average $48.59 (+25.6% upside)

Low: $30.30
Now: $38.70
High: $73.50

Upgrades and downgrades

The latest rating actions, newest first

HRMY analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Needham	Oct 19, 2026	Maintains	Buy	$50.00	47%
HC Wainwright & Co.	Oct 13, 2026	Maintains	Buy	$55.00	33%
Needham	Oct 12, 2026	Maintains	Buy	$50.00	47%
Wolfe Research	Aug 26, 2026	Initiates	Outperform	$60.00	60%
Truist Securities	Aug 5, 2026	Maintains	Hold	$29.00 → $34.00	36%
Needham	Aug 4, 2026	Maintains	Buy	$45.00 → $50.00	47%
Mizuho	Jul 31, 2026	Maintains	Outperform	$50.00 → $51.00	54%
HC Wainwright & Co.	Jul 16, 2026	Maintains	Buy	$55.00	33%
Deutsche Bank	Jun 30, 2026	Maintains	Hold	$30.00 → $36.00	45%
Truist Securities	May 8, 2026	Maintains	Hold	$25.00 → $29.00	36%

The case for and against

Updated Oct 17, 2026

Bull case

Harmony Biosciences Hldgs is supported by a durable commercial base in WAKIX, with 2026 net revenue guidance reaffirmed at $1.00 billion–$1.04 billion versus a $1.03 billion FactSet consensus, while 2Q26 momentum included +450 net patients and 8,950 average patients on treatment. Its outlook is further strengthened by a credible pipeline that spans BP-205, EPX-100, pitolisant GR and HD, and ZYN002, giving the company multiple shots at growth across rare neurological and broader CNS indications. The planned CEO transition appears orderly rather than disruptive, and the company’s emphasis on preserving WAKIX exclusivity, expanding access, and advancing key data readouts through 2027 supports a positive fundamental view.

Bear case

Harmony Biosciences Hldgs is exposed to meaningful concentration risk because Wakix remains the key growth engine, so any slowdown in new patient additions or fresh competition in the sodium oxybate market could materially pressure revenue momentum. Its pipeline offers only partial diversification, and the cited risks around unsuccessful clinical trials in PWS, DM1, DS/LGS, and Fragile X, plus the possibility of earlier-than-expected generic pitolisant competition, weaken confidence in future growth durability. Although a long 25 hr half life and clean safety profile may support dosing versus oveporexton, the balance of evidence still points to execution and competitive risks outweighing upside.

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