Why did Harmony Biosciences (HRMY) stock move recently?

On 9/2/2026, Harmony Biosciences moved +3.9% — HRMY rose on continued momentum after hitting a new 52-week high the prior session, supported by multiple new institutional positions and positive recent analyst coverage including a Wolfe Research Outperform initiation. This is MarketChacha's decoded reason from filings and credible news; it is education, not buy/sell advice.

Is Harmony Biosciences (HRMY) overvalued or fairly valued?

MarketChacha shows Harmony Biosciences's valuation in context — a trailing P/E of about 11.4, a forward P/E of about 5.4, a price-to-book of about 2.2 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Harmony Biosciences's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.82×) from reported figures — education, not a rating.

What is Harmony Biosciences's revenue?

Harmony Biosciences reported revenue of $868.5M for FY2025, with net profit of $158.7M, per official filings.

What is the share price of Harmony Biosciences (HRMY)?

Harmony Biosciences last traded at $38.70 (+2.0% on the day), as of 10/20/2026 — a delayed quote shown for education, not investment advice.

Harmony Biosciences

HRMY · NYSE · Healthcare · United States

Snapshot

TickerHRMY

ExchangeNYSE

SectorHealthcare

IndustryBiotechnology

CountryUnited States

Employees293

HeadquartersPlymouth Meeting, United States

Websitewww.harmonybiosciences.com

Filings tracked17

About Harmony Biosciences

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.

Who owns it

Insiders1.2%
Institutions98.8%
Public & other0.0%

450 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.12.20%
FMR, LLC6.14%
Vanguard Portfolio Management LLC4.95%
American Century Companies Inc4.36%
Dimensional Fund Advisors LP4.11%
Vanguard Capital Management LLC3.61%
LSV Asset Management3.54%
State Street Corporation3.19%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Margin has compressed by about 3.9 points over the period — profitability is trending down.

Cash conversion1.82×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend22.1% → 18.3%

Margin has compressed by about 3.9 points over the period — profitability is trending down.

Return on equity18.2%

Latest ROE of 18.2% — capital is generating a healthy return.

Growth qualityrev 22% · PAT 11%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $281.8M · EPS 1.53

Est. earnings growth +168.0%

Next fiscal year

Rev $1.2B · EPS 7.00

Est. earnings growth +34.1%

Analyst consensus estimates — not the company's own guidance.

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$868.5M

Net margin

18.3%

ROE

18.2%

Revenue CAGR (2y)

+22.2%

Profit CAGR (2y)

+11.0%

EPS (FY2025)

2.71

Net profit (FY2025)

$158.7M

Ask MarketChacha about HRMY

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Why it moved

Sep 2, 2026
HRMY rose on continued momentum after hitting a new 52-week high the prior session, supported by multiple new institutional positions and positive recent analyst coverage including a Wolfe Research Outperform initiation.
source 1 ↗source 2 ↗source 3 ↗· confidence: medium
Sep 1, 2026
No specific company catalyst identified for the move; HRMY rose with broader market/sector momentum following recent analyst coverage and conference participation announcements from late August.
· confidence: low
Aug 4, 2026
Harmony Biosciences reported record Q2 2026 WAKIX revenue of $261.3M (up 30% YoY) along with initial clinical data on its Orexin-2 agonist BP-205 that reinforced its potential best-in-class profile, per the company's Aug 4 press release and 8-K/10-Q filings.
source 1 ↗source 2 ↗· confidence: high
Jul 22, 2026
HRMY fell after a sharp rebound the prior day, with no new company-specific catalyst reported; the move appears tied to ongoing market digestion of the July 16 announcement of record preliminary Q2 revenue, reaffirmed 2026 guidance, and CFO transition.
source 1 ↗source 2 ↗· confidence: medium

Daily moves with the verified reason behind them. Education only — not investment advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$868.5M	$158.7M	2.71	18.3%	18.2%
FY2024	$714.7M	$145.5M	2.51	20.4%	22.1%
FY2023	$582.0M	$128.9M	2.13	22.1%	27.6%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$261.3M	$75.4M	1.28	28.9%
2026Q1	$215.4M	$32.5M	0.55	15.1%
2025Q3	$239.5M	$50.9M	0.87	21.2%
2025Q2	$200.5M	$39.8M	0.68	19.8%
2025Q1	$184.7M	$45.6M	0.78	24.7%
2024Q3	$186.0M	$46.1M	0.79	24.8%
2024Q2	$172.8M	$11.6M	0.20	6.7%
2024Q1	$154.6M	$38.3M	0.67	24.8%
2023Q3	$160.3M	$38.5M	0.63	24.0%
2023Q2	$134.2M	$34.3M	0.56	25.6%
2023Q1	$119.1M	$29.5M	0.48	24.8%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Results of operations, Reg FD disclosure, Exhibits
SEC8/4/2026material
10-Q filing
SEC8/4/2026
8-K — Results of operations, Executive/director change, Reg FD disclosure, Exhibits
SEC7/16/2026material
8-K — Shareholder vote results
SEC5/14/2026material
10-Q filing
SEC5/7/2026
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC5/7/2026material
8-K — Executive/director change, Reg FD disclosure, Exhibits
SEC4/14/2026material
8-K — Executive/director change, Reg FD disclosure, Exhibits
SEC4/2/2026material
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC2/24/2026material
10-K filing
SEC2/24/2026
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC1/12/2026material

2025

8-K — Results of operations, Reg FD disclosure, Exhibits
SEC11/4/2025material
10-Q filing
SEC11/4/2025
8-K — Results of operations, Exhibits
SEC10/23/2025material
8-K — Reg FD disclosure, Exhibits
SEC9/24/2025material
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC8/5/2025material
10-Q filing
SEC8/5/2025

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.