Harmony Biosciences Holdings, Inc. (HRMY) shares soared 10% in the last trading session to close at $36.84. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.2% gain over the past four weeks.
Harmony Biosciences stock gained primarily due to stronger-than-expected preliminary second-quarter 2026 results and continued confidence in its growth outlook. The company reported preliminary second-quarter 2026 Wakix (pitolisant) net product revenue of approximately $261 million, a record quarterly high, up 30% year over year and 21% sequentially. Robust demand for Wakix and strong commercial execution led Harmony to reaffirm its full-year 2026 net product revenue guidance of $1.0 billion to $1.04 billion.
This company is expected to post quarterly earnings of $0.87 per share in its upcoming report, which represents a year-over-year change of +27.9%. Revenues are expected to be $252.54 million, up 26% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Harmony Biosciences, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HRMY going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Harmony Biosciences belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Syndax Pharmaceuticals (SNDX), closed the last trading session 1.6% higher at $22.64. Over the past month, SNDX has returned 15.4%.
For Syndax, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.45. This represents a change of +45.8% from what the company reported a year ago. Syndax currently has a Zacks Rank of #2 (Buy).
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This article originally published on Zacks Investment Research (zacks.com).