Harmony Biosciences Holdings, Inc. (HRMY) Expands WAKIX With FDA Nod for Prader-Willi

We recently compiled a list of the 11 Cheap Biotech Stocks to Buy According to Hedge Funds. Harmony Biosciences Holdings, Inc. stands ninth among them,

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) is a commercial-stage biopharmaceutical company focused on therapies for rare neurological diseases. Its flagship product, WAKIX (pitolisant), treats excessive daytime sleepiness and cataplexy in adults with narcolepsy and recently received FDA approval for Prader-Willi Syndrome, expanding its patient base. The company aims to surpass $1 billion in narcolepsy-related revenue by 2030, supported by patient growth, label expansions including pediatric use, and next-generation formulations.

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)’s late-stage pipeline is strong, with ongoing and upcoming Phase 3 trials targeting Prader-Willi Syndrome and Fragile X Syndrome. Given its expanding addressable market and robust clinical development, HRMY is increasingly being mentioned among cheap biotech stocks to buy, as investors seek undervalued opportunities with significant upside. Preclinical data for BP1.15205, a potential best-in-class orexin-2 agonist, showed promising wake-promoting and cataplexy-suppressing effects, with human trials expected to begin in late 2025.

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) is currently considered undervalued relative to its growth potential. Analysts project approximately 45% upside as pipeline progress, market opportunities, and label expansions drive long-term growth. The business will participate in the 2025 Cantor Global Healthcare Conference in September, highlighting continued engagement with investors and the broader healthcare sector.

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Disclosure: None.