HRMY Stock Forecast & Price Target

Harmony Biosciences Holdings Inc. possesses a compelling growth outlook, driven primarily by increasing sales of WAKIX, projected to exceed $700 million by 2024, as its advantages in safety and convenience broaden the patient population. Management's strategic focus on its orphan drug pipeline, which includes promising candidates for various rare neurological disorders, positions the company favorably for future growth, particularly with the anticipated NDA filing for pitolisant-GR in early 2026. Furthermore, positive results from the recent bioequivalence study of pitolisant-GR suggest improved patient adherence due to enhanced tolerability, reinforcing Harmony’s potential to solidify its market position in neurology.

Harmony Biosciences Holdings Inc.'s outlook is clouded by disappointing clinical trial results, particularly the failure of the pivotal Phase 3 RECONNECT trial for ZYN002, which did not meet its primary endpoint due to an unexpectedly high placebo response. Additionally, the company faces significant risks, including potential competition in the sodium oxybate market that could hinder the growth of WAKIX, and the possibility of slower-than-expected new patient additions for this product. Furthermore, the success of ongoing clinical trials for other drug candidates remains uncertain, adding further pressure to the company’s financial performance and market position.