Harmony Biosciences' genetic disorder drug fails to meet main goal in late-stage trial
HRMY's experimental drug for a rare disorder failed late-stage trial. Shares dropped 8% post-announcement, indicating market concern.
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HRMY
Harmony Biosciences Holdings, Inc. · NASDAQ · Healthcare
Price$39.66+1.82% · +$0.71
Market cap2.3BEquity value
P / E12.9Trailing ratio
Volume521.4KLatest session
Market data
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Harmony Biosciences Stock Falls On FDA Setback For Pitolisant In Sleeping Disorder
HRMY received FDA's Refusal to File for pitolisant in IH. 2025 revenue guidance of $820-$860 million remains intact. Phase 3 trial for Pitolisant HD is planned for Q4 2025. Wakix sales rose, with net revenue increasing to $201 million. Analyst maintains 'Buy' but lowers price target from $52 to $50.
View signal analysisNeurology-Focused Harmony Biosciences Gains Confidence With Wakix Sales Surge, Strategic Pipeline Expansion, Bullish Analyst Says
UBS initiated coverage on Harmony with a Buy rating and $56 price target. Wakix sales reached $172.8 million in Q2 2024, growing 29% year-over-year. The patient count on Wakix increased to approximately 6,550 as of June 30, 2024. UBS projects a 19% sales CAGR for Harmony, higher than consensus at 16%. Recent acquisition of Epygenix adds to Harmony's pipeline potential and market reach.
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