Harmony Biosciences Holdings, Inc. (HRMY) reported earnings of 55 cents per share for Q1 2026, missing the Zacks Consensus Estimate of 76 cents, down from 78 cents in the previous year. Net product revenues were $215.4 million, a 17% year-over-year increase but falling short of the expected $222 million. The company cited seasonal market access challenges as contributing factors. As of Q1 2026, Harmony had approximately 8,600 patients on therapy and $870.5 million in cash on its balance sheet.
For 2026, Harmony reiterated its guidance for Wakix net revenues between $1.0 billion and $1.04 billion, with sales projected at $1.009 billion and earnings at $3.20 per share. The stock currently trades at a forward P/E ratio of 10.38, significantly lower than the Zacks sub-industry average of 44.24. However, concerns arise from the company’s dependence on a single product for revenue, leading to a cautious outlook despite operating strength.
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