Harmony Biosciences (HRMY)
Market Price (2/26/2026): $28.2 | Market Cap: $1.6 BilSector: Health Care | Industry: Biotechnology
Harmony Biosciences (HRMY)
Market Price (2/26/2026): $28.2Market Cap: $1.6 BilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.1%, FCF Yield is 18% | Weak multi-year price returns2Y Excs Rtn is -54%, 3Y Excs Rtn is -113% | Key risksHRMY key risks include [1] its substantial dependence on a single product, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -31% | Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.42 | |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 27% | ||
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 36%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 36% | ||
| Low stock price volatilityVol 12M is 44% | ||
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.1%, FCF Yield is 18% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -31% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 27% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 36%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 36% |
| Low stock price volatilityVol 12M is 44% |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies. |
| Weak multi-year price returns2Y Excs Rtn is -54%, 3Y Excs Rtn is -113% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.42 |
| Key risksHRMY key risks include [1] its substantial dependence on a single product, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Strong WAKIX Performance and Positive 2026 Guidance Offset by Q4 2025 Earnings Miss. Harmony Biosciences reported a 21% year-over-year increase in net revenues for Q4 2025, reaching $243.8 million, driven by the continued demand for its flagship drug WAKIX. The company also reiterated robust guidance for 2026 WAKIX net revenue, projecting between $1.0 billion and $1.04 billion, aiming for "blockbuster" status. However, this positive outlook was tempered by a significant miss on Q4 2025 adjusted earnings per share (EPS), which came in at $0.57 per diluted share against analyst estimates of $0.84 to $0.91. This disparity between strong revenue growth and an EPS miss created a balancing effect on the stock's movement, especially after the Q4 results were announced on February 24, 2026.
2. Consistent Bullish Analyst Sentiment and Price Targets. Throughout the specified period, Wall Street analysts maintained a largely positive outlook on Harmony Biosciences, with a consensus of "Buy" or "Strong Buy" ratings from multiple firms. Average 12-month price targets ranged from $45.25 to $51.60, implying significant upside from the stock's trading levels. While some individual price target adjustments occurred, and UBS downgraded the stock from "Buy" to "Neutral" in February 2026 (while still raising its target to $46), this sustained optimistic analyst sentiment provided a consistent floor and underlying support for the stock, preventing a prolonged downturn.
Show more
Stock Movement Drivers
Fundamental Drivers
The -1.3% change in HRMY stock from 10/31/2025 to 2/25/2026 was primarily driven by a -4.0% change in the company's Net Income Margin (%).| (LTM values as of) | 10312025 | 2252026 | Change |
|---|---|---|---|
| Stock Price ($) | 28.57 | 28.19 | -1.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 773 | 826 | 6.9% |
| Net Income Margin (%) | 23.4% | 22.5% | -4.0% |
| P/E Multiple | 9.1 | 8.7 | -3.7% |
| Shares Outstanding (Mil) | 57 | 58 | -0.1% |
| Cumulative Contribution | -1.3% |
Market Drivers
10/31/2025 to 2/25/2026| Return | Correlation | |
|---|---|---|
| HRMY | -1.3% | |
| Market (SPY) | 1.6% | 13.7% |
| Sector (XLV) | 9.4% | 14.8% |
Fundamental Drivers
The -19.9% change in HRMY stock from 7/31/2025 to 2/25/2026 was primarily driven by a -33.8% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 2252026 | Change |
|---|---|---|---|
| Stock Price ($) | 35.18 | 28.19 | -19.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 745 | 826 | 10.9% |
| Net Income Margin (%) | 20.5% | 22.5% | 9.6% |
| P/E Multiple | 13.2 | 8.7 | -33.8% |
| Shares Outstanding (Mil) | 57 | 58 | -0.4% |
| Cumulative Contribution | -19.9% |
Market Drivers
7/31/2025 to 2/25/2026| Return | Correlation | |
|---|---|---|
| HRMY | -19.9% | |
| Market (SPY) | 10.0% | 16.8% |
| Sector (XLV) | 21.6% | 15.2% |
Fundamental Drivers
The -27.3% change in HRMY stock from 1/31/2025 to 2/25/2026 was primarily driven by a -51.4% change in the company's P/E Multiple.| (LTM values as of) | 1312025 | 2252026 | Change |
|---|---|---|---|
| Stock Price ($) | 38.77 | 28.19 | -27.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 682 | 826 | 21.1% |
| Net Income Margin (%) | 18.0% | 22.5% | 25.0% |
| P/E Multiple | 18.0 | 8.7 | -51.4% |
| Shares Outstanding (Mil) | 57 | 58 | -1.2% |
| Cumulative Contribution | -27.3% |
Market Drivers
1/31/2025 to 2/25/2026| Return | Correlation | |
|---|---|---|
| HRMY | -27.3% | |
| Market (SPY) | 16.2% | 24.3% |
| Sector (XLV) | 8.9% | 24.7% |
Fundamental Drivers
The -41.5% change in HRMY stock from 1/31/2023 to 2/25/2026 was primarily driven by a -52.3% change in the company's P/E Multiple.| (LTM values as of) | 1312023 | 2252026 | Change |
|---|---|---|---|
| Stock Price ($) | 48.17 | 28.19 | -41.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 401 | 826 | 106.1% |
| Net Income Margin (%) | 38.8% | 22.5% | -42.1% |
| P/E Multiple | 18.3 | 8.7 | -52.3% |
| Shares Outstanding (Mil) | 59 | 58 | 2.9% |
| Cumulative Contribution | -41.5% |
Market Drivers
1/31/2023 to 2/25/2026| Return | Correlation | |
|---|---|---|
| HRMY | -41.5% | |
| Market (SPY) | 76.9% | 24.4% |
| Sector (XLV) | 23.9% | 21.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HRMY Return | 18% | 29% | -41% | 7% | 9% | -25% | -22% |
| Peers Return | -25% | 30% | 20% | -6% | 40% | -0% | 54% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 83% |
Monthly Win Rates [3] | |||||||
| HRMY Win Rate | 42% | 58% | 50% | 58% | 58% | 0% | |
| Peers Win Rate | 52% | 58% | 52% | 47% | 60% | 30% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| HRMY Max Drawdown | -29% | -22% | -65% | -11% | -25% | -28% | |
| Peers Max Drawdown | -40% | -22% | -18% | -24% | -19% | -9% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: JAZZ, AXSM, ALKS, NBIX, ACAD.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/25/2026 (YTD)
How Low Can It Go
| Event | HRMY | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -68.5% | -25.4% |
| % Gain to Breakeven | 217.2% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -30.5% | -33.9% |
| % Gain to Breakeven | 44.0% | 51.3% |
| Time to Breakeven | 482 days | 148 days |
Compare to JAZZ, AXSM, ALKS, NBIX, ACAD
In The Past
Harmony Biosciences's stock fell -68.5% during the 2022 Inflation Shock from a high on 12/5/2022. A -68.5% loss requires a 217.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Harmony Biosciences (HRMY)
AI Analysis | Feedback
A younger Jazz Pharmaceuticals, specializing in treatments for narcolepsy and other rare neurological conditions.
Like a Sarepta Therapeutics, but focused on rare neurological disorders instead of muscular dystrophies.
AI Analysis | Feedback
- Wakix (pitolisant): An oral medication approved to treat excessive daytime sleepiness (EDS) and cataplexy in adult patients with narcolepsy.
AI Analysis | Feedback
Harmony Biosciences (HRMY) primarily sells its pharmaceutical products to other companies within the healthcare supply chain, rather than directly to individuals. While Harmony Biosciences does not explicitly name its major customers in its public filings, their SEC reports (e.g., 10-K) indicate that they distribute their products through a limited number of specialty pharmacies and third-party logistics providers. These filings also reveal significant customer concentration, with one customer accounting for approximately 70% of the company's gross product sales in 2023, and another for approximately 19%. Based on the typical pharmaceutical industry distribution model, these major customers are highly likely to be large pharmaceutical wholesalers and specialty distributors that manage the logistics and distribution of medications to pharmacies, hospitals, and other healthcare providers. The most probable candidates for such major customers in the U.S. pharmaceutical market include:- Cencora (formerly AmerisourceBergen) (Symbol: NYSE: ABC)
- McKesson Corporation (Symbol: NYSE: MCK)
- Cardinal Health (Symbol: NYSE: CAH)
AI Analysis | Feedback
- Bioprojet SCR
- Fareva Amboise
AI Analysis | Feedback
Jeffrey M. Dayno, M.D., President and Chief Executive Officer
Dr. Jeffrey M. Dayno is the President and Chief Executive Officer of Harmony Biosciences, having been appointed to the role in January 2023. He previously served as the Interim President and CEO since January 2023, and as Chief Medical Officer and Executive Vice President since the company's founding in 2017. A nationally recognized expert in neuroscience, Dr. Dayno is responsible for overseeing Harmony's business growth, which includes the acquisitions of Zynerba Pharmaceuticals in 2023 and Epygenix Therapeutics, Inc. in 2024. He played a critical role in the FDA approval of Harmony's key asset, WAKIX (pitolisant), and helped shape the company's commercial strategy. Before joining Harmony, Dr. Dayno spent 10 years in clinical and academic medicine as a neurologist, followed by over 25 years in the pharmaceutical industry, holding leadership roles at companies such as Merck & Co., Cephalon, and ViroPharma. Harmony Biosciences was established by Paragon Biosciences, LLC, a global life science leader that creates, builds, and funds innovative biology-based companies.
Sandip Kapadia, CPA, MBA, Chief Financial Officer and Chief Administrative Officer
Sandip Kapadia serves as the Chief Financial Officer and Chief Administrative Officer for Harmony Biosciences. He brings over 25 years of experience in the life sciences industry, providing strategic financial oversight and guidance to companies in both the United States and Europe. Most recently, Mr. Kapadia was the Chief Financial Officer at Intercept Pharmaceuticals, Inc. from July 2016 to March 2021, where he significantly contributed to building key functional capabilities, developing and executing financial and capital strategies for commercial launch, and raising over $700 million in various financings. Prior to Intercept, he spent the majority of his career at Novartis and its affiliates, holding various positions, including Chief Financial Officer of North America at Sandoz, Novartis's generic division. Mr. Kapadia is a Certified Public Accountant and holds an MBA from Rutgers University. He currently serves on the board of directors of Passage Bio, Inc., Molecular Partners AG, and VectivBio Holding AG.
Kumar Budur, MD, MS, Chief Medical and Scientific Officer
Dr. Kumar Budur is the Chief Medical and Scientific Officer at Harmony Biosciences. In this role, he leads the company's Research and Development (R&D) strategy and Medical Affairs, overseeing areas such as Clinical Strategy, Clinical Operations, Regulatory Affairs, Pharmacovigilance, Biostatistics, Portfolio Management, and Medical Affairs. Before joining Harmony Biosciences, Dr. Budur held positions of increasing responsibility for approximately six years at both AbbVie and Takeda. He is recognized as an expert in R&D, having overseen programs from late discovery to post-marketing studies and having experience with small molecules, biologics, and drug-device combinations. Dr. Budur was involved with four New Drug Applications (NDAs) and was the lead for the registration clinical trials, submission, and approval process of two NDAs.
Adam Zaeske, MBA, Executive Vice President and Chief Commercial Officer
Adam Zaeske serves as the Executive Vice President and Chief Commercial Officer at Harmony Biosciences. He has over 25 years of experience in building teams and transforming organizations across the US and Europe. His background encompasses a broad range of functions, including marketing, sales, market access, new product planning, and finance. Mr. Zaeske has successfully led and launched products in more than a dozen therapeutic areas, including orphan and cell & gene therapies. Before joining Harmony, he was the Head of Central, South and East Europe for Takeda Pharmaceuticals, where he led a region with over $2 billion USD in revenue and nearly 900 employees. He also previously served as Takeda's Head of Portfolio & Pipeline.
Andrew Serafin, JD, MBA, Chief Strategy Officer
Andrew Serafin is the Chief Strategy Officer at Harmony Biosciences. He is responsible for guiding the company's corporate strategy, business and corporate development initiatives, and alliance management efforts. This includes expanding Harmony's pipeline through the acquisition and licensing of novel rare disease therapies. Mr. Serafin brings 20 years of experience in mergers and acquisitions and corporate legal counseling within the pharmaceutical, broader healthcare, and technology sectors. He holds a Bachelor of Science degree from the University of Illinois, a Juris Doctor from the Loyola University Chicago School of Law, and a Master of Business Administration from the Northwestern University Kellogg School of Management.
AI Analysis | Feedback
The primary business risks for Harmony Biosciences (HRMY) revolve around its reliance on its flagship product, market competition, and the inherent challenges of pharmaceutical development.
- High Dependence on WAKIX (Pitolisant): Harmony Biosciences is substantially dependent on the commercial success of WAKIX (pitolisant), which currently serves as its primary revenue source. Any factors leading to a decline in WAKIX sales, such as increased competition, unexpected safety issues, or failure to secure approval for new indications, could significantly impact the company's financial performance and revenue generation.
- Intense Market Competition: Harmony Biosciences operates in a highly competitive biopharmaceutical sector, particularly within the narcolepsy treatment market. The company faces ongoing competition from established pharmaceutical companies like Jazz Pharmaceuticals and Avadel Pharmaceuticals, as well as from emerging innovative therapies, including new orexin receptor 2 agonists under development by companies such as Alkermes and Takeda. The potential emergence of generic alternatives to existing treatments also poses a competitive threat. This competitive landscape could pressure WAKIX's market share and pricing.
- Clinical Trial Failures and Regulatory Setbacks: Harmony Biosciences' future growth and diversification heavily rely on the successful development and regulatory approval of pipeline assets and new indications for WAKIX. The company has experienced setbacks, including the failure of a Phase 3 study for ZYN002 in Fragile X syndrome and a Refusal to File letter from the FDA for a supplemental New Drug Application for pitolisant in idiopathic hypersomnia. Such failures and delays in clinical trials or regulatory processes can hinder product diversification, delay market entry, and negatively affect future revenue potential and investor confidence.
AI Analysis | Feedback
The clear emerging threat for Harmony Biosciences is the potential market entry of Axsome Therapeutics' AXS-12.
AXS-12 is an investigational drug for the treatment of narcolepsy, directly targeting the same indication as Harmony Biosciences' primary product, WAKIX (pitolisant). Axsome Therapeutics is currently conducting a Phase 3 trial (SYMPHONY) for AXS-12, with topline results expected in the second half of 2024. If successful, AXS-12 could offer a new treatment option for narcolepsy, potentially with a different efficacy or safety profile, which could compete directly for market share with WAKIX.
AI Analysis | Feedback
Harmony Biosciences (HRMY) primarily focuses on rare neurological disorders, with its main product being WAKIX® (pitolisant) tablets. The company's operations and revenue generation are conducted within the United States. Here's an overview of the addressable markets for their main products and services:WAKIX® (pitolisant)
WAKIX is approved by the U.S. Food and Drug Administration (FDA) for the treatment of excessive daytime sleepiness (EDS) or cataplexy in adult patients with narcolepsy, and for the treatment of EDS in pediatric patients 6 years of age and older with narcolepsy.- U.S. Narcolepsy Therapeutics Market: The U.S. narcolepsy therapeutics market was valued at approximately $1.186 billion in 2023 and is projected to reach around $1.867 billion by 2030. Another estimate places the U.S. narcolepsy therapeutics market at $1.018 billion in 2024, growing to approximately $2.166 billion by 2034. The market opportunity for diagnosed narcolepsy patients in the U.S. is approximately 80,000 individuals.
- Global Idiopathic Hypersomnia Treatment Market: The global idiopathic hypersomnia treatment market reached $1.5 billion in 2024 and is expected to grow to $2.8 billion by 2031. North America holds a significant share, dominating the idiopathic hypersomnia treatment market with 50.5% in 2024.
AI Analysis | Feedback
Harmony Biosciences (HRMY) is expected to drive future revenue growth over the next 2-3 years through several key strategic initiatives:- Sustained Market Penetration and Increased Patient Base for WAKIX in Narcolepsy: Harmony Biosciences continues to report strong demand and a growing patient base for its flagship product, WAKIX (pitolisant), for the treatment of narcolepsy. The company has consistently achieved record quarterly increases in the average number of patients on WAKIX, and management expects the drug to reach "blockbuster status," generating over $1 billion in annual revenue in narcolepsy alone.
- Launch of Next-Generation Pitolisant Formulations and Expansion into New Indications: Harmony Biosciences is advancing new formulations of pitolisant, including Pitolisant GR (gastro-resistant) and Pitolisant HD (high-dose/optimized pharmacokinetic profile). These next-generation formulations are designed to offer improved characteristics and extend the product's lifecycle, with patent protection for Pitolisant GR expected out to 2044. Additionally, the company is evaluating pitolisant for new indications, such as idiopathic hypersomnia, with Phase 3 trials for Pitolisant HD in this area expected to commence in Q4 2025.
- Advancement and Potential Commercialization of Novel Pipeline Assets: Harmony Biosciences is diversifying its pipeline beyond the current pitolisant franchise by developing new product candidates. A significant driver is BP1.15205, a highly potent and selective oral orexin-2 receptor agonist, which is an investigational compound for narcolepsy and other sleep/wake disorders. The first subject for BP1.15205 is expected to be dosed in Q4 2025. The company has also expanded its focus into rare epilepsies through strategic acquisitions, adding assets like EPX-100, which is in registrational Phase 3 trials. These new pipeline programs aim to address unmet medical needs in various neurological disorders and offer substantial future revenue potential.
AI Analysis | Feedback
Share Repurchases
- Harmony Biosciences' Board of Directors authorized a share repurchase program of up to $125 million on August 1, 2023.
Share Issuance
- Harmony Biosciences completed its initial public offering (IPO) on August 21, 2020, issuing 6,151,162 shares of common stock at $24.00 per share, resulting in gross proceeds of $147.6 million.
- Shares issued amounted to $2.1 million for the quarter ended June 2025.
- As of September 30, 2025, diluted shares outstanding were 58,717,910.
Capital Expenditures
- Capital expenditures were $0.30 million in 2021, $0.17 million in 2022, $37 million in 2023, and $34 million in 2024.
Latest Trefis Analyses
Trade Ideas
Select ideas related to HRMY.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 01302026 | ABT | Abbott Laboratories | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 5.0% | 5.0% | -1.0% |
| 01302026 | VEEV | Veeva Systems | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -13.5% | -13.5% | -15.7% |
| 01162026 | BIIB | Biogen | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 16.0% | 16.0% | 0.0% |
| 01162026 | BMRN | BioMarin Pharmaceutical | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 12.5% | 12.5% | 0.0% |
| 01162026 | DOCS | Doximity | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -40.9% | -40.9% | -42.4% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 81.09 |
| Mkt Cap | 6.7 |
| Rev LTM | 1,284 |
| Op Inc LTM | 292 |
| FCF LTM | 394 |
| FCF 3Y Avg | 291 |
| CFO LTM | 419 |
| CFO 3Y Avg | 313 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 16.9% |
| Rev Chg 3Y Avg | 25.9% |
| Rev Chg Q | 19.8% |
| QoQ Delta Rev Chg LTM | 4.7% |
| Op Mgn LTM | 16.6% |
| Op Mgn 3Y Avg | 18.5% |
| QoQ Delta Op Mgn LTM | -0.6% |
| CFO/Rev LTM | 30.4% |
| CFO/Rev 3Y Avg | 25.2% |
| FCF/Rev LTM | 27.9% |
| FCF/Rev 3Y Avg | 23.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 6.7 |
| P/S | 3.7 |
| P/EBIT | 9.6 |
| P/E | 11.9 |
| P/CFO | 9.0 |
| Total Yield | 4.9% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 5.8% |
| D/E | 0.0 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -6.6% |
| 3M Rtn | 2.5% |
| 6M Rtn | 0.5% |
| 12M Rtn | 21.2% |
| 3Y Rtn | 30.0% |
| 1M Excs Rtn | -6.6% |
| 3M Excs Rtn | 2.0% |
| 6M Excs Rtn | -5.0% |
| 12M Excs Rtn | 1.8% |
| 3Y Excs Rtn | -42.5% |
FDA Approved Drugs Data
Expand for More| Post-Approval Fwd Returns | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| FDA App # | Brand Name | Generic Name | Dosage Form | FDA Approval | 3M Rtn | 6M Rtn | 1Y Rtn | 2Y Rtn | Total Rtn |
| NDA211150 | WAKIX | pitolisant hydrochloride | tablet | 8142019 | |||||
Price Behavior
| Market Price | $28.19 | |
| Market Cap ($ Bil) | 1.6 | |
| First Trading Date | 08/19/2020 | |
| Distance from 52W High | -30.4% | |
| 50 Days | 200 Days | |
| DMA Price | $36.54 | $34.13 |
| DMA Trend | up | up |
| Distance from DMA | -22.9% | -17.4% |
| 3M | 1YR | |
| Volatility | 48.6% | 43.7% |
| Downside Capture | 228.53 | 109.72 |
| Upside Capture | 56.50 | 64.33 |
| Correlation (SPY) | 17.2% | 24.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.80 | 0.61 | 0.32 | 0.56 | 0.55 | 0.81 |
| Up Beta | 1.53 | -1.03 | -0.12 | 0.66 | 0.47 | 0.54 |
| Down Beta | -0.20 | -0.85 | -1.38 | -0.66 | 0.37 | 0.55 |
| Up Capture | 99% | 193% | 217% | 103% | 56% | 87% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 11 | 21 | 35 | 61 | 124 | 361 |
| Down Capture | 201% | 183% | 62% | 118% | 92% | 107% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 8 | 19 | 24 | 61 | 121 | 381 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HRMY | |
|---|---|---|---|---|
| HRMY | -17.9% | 44.5% | -0.31 | - |
| Sector ETF (XLV) | 8.4% | 17.3% | 0.31 | 26.9% |
| Equity (SPY) | 17.2% | 19.4% | 0.69 | 24.3% |
| Gold (GLD) | 75.4% | 25.7% | 2.16 | -6.3% |
| Commodities (DBC) | 9.7% | 16.9% | 0.38 | 2.2% |
| Real Estate (VNQ) | 7.2% | 16.6% | 0.25 | 27.9% |
| Bitcoin (BTCUSD) | -27.7% | 44.9% | -0.59 | 8.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HRMY | |
|---|---|---|---|---|
| HRMY | -5.4% | 51.3% | 0.09 | - |
| Sector ETF (XLV) | 8.0% | 14.5% | 0.37 | 26.4% |
| Equity (SPY) | 13.6% | 17.0% | 0.63 | 26.9% |
| Gold (GLD) | 23.4% | 17.1% | 1.12 | -3.5% |
| Commodities (DBC) | 10.7% | 19.0% | 0.45 | -1.0% |
| Real Estate (VNQ) | 5.3% | 18.8% | 0.18 | 23.7% |
| Bitcoin (BTCUSD) | 5.1% | 57.1% | 0.31 | 12.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HRMY | |
|---|---|---|---|---|
| HRMY | -2.7% | 53.2% | 0.12 | - |
| Sector ETF (XLV) | 10.9% | 16.5% | 0.54 | 26.2% |
| Equity (SPY) | 15.5% | 17.9% | 0.75 | 26.7% |
| Gold (GLD) | 15.2% | 15.6% | 0.81 | -3.6% |
| Commodities (DBC) | 8.4% | 17.6% | 0.39 | 1.0% |
| Real Estate (VNQ) | 6.6% | 20.7% | 0.28 | 23.3% |
| Bitcoin (BTCUSD) | 66.0% | 66.7% | 1.05 | 11.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/12/2026 | -0.7% | ||
| 10/23/2025 | 12.7% | 11.6% | 27.1% |
| 8/5/2025 | -1.7% | -2.1% | 5.6% |
| 5/6/2025 | 7.0% | 19.0% | 17.4% |
| 1/13/2025 | 7.6% | 15.3% | 11.5% |
| 10/29/2024 | 16.1% | -7.6% | -2.6% |
| 8/6/2024 | 6.2% | 8.1% | 16.6% |
| 2/22/2024 | -4.7% | 0.8% | 1.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 12 | 11 |
| # Negative | 7 | 6 | 7 |
| Median Positive | 7.3% | 9.9% | 16.6% |
| Median Negative | -3.9% | -6.4% | -7.0% |
| Max Positive | 19.4% | 26.5% | 49.2% |
| Max Negative | -11.1% | -9.8% | -12.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 10/29/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 05/03/2022 | 10-Q |
| 12/31/2021 | 02/28/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Dayno, Jeffrey M | PRESIDENT, CEO | Direct | Sell | 12172025 | 40.11 | 25,933 | Form | ||
| 2 | Kapadia, Sandip | CHIEF FINANCIAL OFFICER | Direct | Sell | 12092025 | 39.54 | 20,000 | Form | ||
| 3 | Kapadia, Sandip | CHIEF FINANCIAL OFFICER | Direct | Sell | 11252025 | 35.00 | 3,427 | Form | ||
| 4 | Kapadia, Sandip | CHIEF FINANCIAL OFFICER | Direct | Sell | 8192025 | 36.50 | 21,573 | Form | ||
| 5 | Kapadia, Sandip | CHIEF FINANCIAL OFFICER | Direct | Sell | 4032025 | 32.54 | 6,987 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.