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Harmony Biosciences HoldingsHRMY +1.35%94 Graham Number is $34.16 as of Jun. 2026, which is 1970% above its 10-year median of 1.65. GuruFocus rates HRMY with a GF Score™ of 94/100 and a GF Value™ of $46.81 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 252 Biotechnology companies, Harmony Biosciences Holdings ranks better than 69.05% on this metric.
Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
The historical rank and industry rank for Harmony Biosciences Holdings's Graham Number or its related term are showing as below:
HRMY'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.85 Med: 1.65 Max: 35.82
Current: 1.13
During the past 8 years, the highest Price to Graham Number ratio of Harmony Biosciences Holdings was 35.82. The lowest was 0.85. And the median was 1.65.
HRMY's Price-to-Graham-Number is ranked better than 69.05% of 252
companies
in the Biotechnology industry
Industry Median: 1.725
vs HRMY: 1.13
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Harmony Biosciences Holdings (NAS:HRMY) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
Harmony Biosciences Holdings's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
38.74
/
34.16
=
1.13
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
Harmony Biosciences Holdings Graham Number Related Terms
Harmony Biosciences Holdings Graham Number Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
HRMY vs SION, URGN, PVLA: Graham Number Comparison
For the Biotechnology subindustry, Harmony Biosciences Holdings's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Harmony Biosciences Holdings Price-to-Graham-Number vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Harmony Biosciences Holdings's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Harmony Biosciences Holdings's Price-to-Graham-Number falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Harmony Biosciences Holdings (HRMY) has a Graham Number of $34.16 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Harmony Biosciences Holdings and its competitors. This is 1970% above median its historical median of 1.65. Over the past decade, Harmony Biosciences Holdings' Graham Number has ranged from 0.85 to 35.82. According to the industry distribution chart, Harmony Biosciences Holdings ranks #78 out of 252 companies in the Biotechnology industry, placing it in the top 31%.
Is Harmony Biosciences Holdings' Graham Number too high?
Harmony Biosciences Holdings' current Graham Number of $34.16 is 1970% above median its 10-year median of 1.65. Over the past 10 years, this metric has ranged from a low of 0.85 to a high of 35.82. The Biotechnology industry median Graham Number is 1.73. Harmony Biosciences Holdings' value of $34.16 is 1880.3% above this industry median. Based on the distribution chart, Harmony Biosciences Holdings ranks #78 out of 252 companies in the Biotechnology industry, which is above the industry midpoint. Overall, Harmony Biosciences Holdings has a GF Score™ of 94/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Harmony Biosciences Holdings' Graham Number compare to SION and URGN?
According to the Biotechnology industry distribution chart, Harmony Biosciences Holdings ranks #78 out of 252 companies for Graham Number. This puts Harmony Biosciences Holdings in the upper half of its industry. The industry median Graham Number is 1.73. Harmony Biosciences Holdings' value of $34.16 is 1880.3% above this benchmark. Historically, Harmony Biosciences Holdings' own Graham Number has ranged from 0.85 to 35.82 over the past decade. While the company's 10-year median is 1.65 vs. the industry median of 1.73, Harmony Biosciences Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for a Biotechnology company?
The median Graham Number among Biotechnology companies is 1.73, based on 252 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Harmony Biosciences Holdings's current Graham Number of $34.16 is 1880.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Harmony Biosciences Holdings and its competitors. For the Biotechnology industry, the median Graham Number is 1.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Harmony Biosciences Holdings's current Graham Number is $34.16, which is 1970% above median its own 10-year median of 1.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harmony Biosciences Holdings stock overvalued right now?
Based on GuruFocus' analysis, Harmony Biosciences Holdings (HRMY) is currently considered Modestly Undervalued. The stock's GF Value™ is $46.81, compared to a current price of $38.74 — trading 17.2% below its estimated fair value. The current Graham Number is $34.16, which is 1970% above median its 10-year median of 1.65 and 1880.3% above the Biotechnology industry median of 1.73. Harmony Biosciences Holdings' overall GF Score™ is 94/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Harmony Biosciences Holdings (HRMY), the current Graham Number is $34.16 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Harmony Biosciences Holdings (HRMY) Overvalued in 2026?
Based on GuruFocus' analysis, Harmony Biosciences Holdings stock appears to be undervalued.
The current stock price of $38.74 is trading 17.2% below its estimated GF Value™ of $46.81.
GuruFocus considers Harmony Biosciences Holdings to be Modestly Undervalued.
Key valuation signals for HRMY:
Graham Number: $34.16 (1970% above median its 10-year median of 1.65)
GF Value™: $46.81 vs. price of $38.74 (17.2% below fair value)
Industry Position: 1880.3% above the Biotechnology median (#78 of 252)
No single metric tells the full story. See the HRMY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Harmony Biosciences Holdings Inc is a commercial-stage pharmaceutical company focused on developing and commercializing therapies for patients living with rare neurological diseases who have unmet medical needs. The company has one reportable segment: rare neurological diseases. Its product WAKIX (pitolisant) is a molecule with a novel mechanism of action specifically designed to increase histamine signaling in the brain by binding to H3 receptors and is used for the treatment of cataplexy in adult patients with narcolepsy. The other drug candidates in its pipeline are Pitolisant, HBS-102 (MCHR1 antagonist), BP1.15205 (orexin-2 receptor agonist), ZYN002 (cannabidiol gel), EPX-100 (clemizole hydrochloride), and EPX-200 (lorcaserin), among others.
94GF Score
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