Why Harmony Biosciences Stock Got Mashed on Monday
Key Points
This, despite the move being expected.
The company's new CEO will take up the post at the beginning of next year.
- 10 stocks we like better than Harmony Biosciences ›
Harmony Biosciences (NASDAQ: HRMY) is getting a new leader, but investors aren't happy about it. On news of a major C-Suite change, they eagerly sold shares in the pharmaceutical company to leave it with more than a 5% loss on Monday.
New boss incoming
That morning, Harmony announced that its current COO and member of its board, Peter Anastasiou, is to become CEO, effective Jan. 1, 2027. In a planned succession, he will replace the healthcare company's current chief, Jeffrey Dayno, who will stay with Harmony in an advisory role throughout that year.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
Image source: Getty Images.
In the press release announcing the move, Harmony signaled a "steady as she goes" approach. The company stated that it will stick with its current strategic priorities, including further development of its molecule, pitolisant (approved by the Food and Drug Administration under the brand name Wakix for certain sleep disorders), and advancement of its pipeline.
In addition to detailing the CEO change, Harmony also reiterated its full-year net revenue guidance for Wakix. The drug should maintain its blockbuster status, with net revenue of $1 billion to $1.04 billion. The company added that its assumptions for hitting key commercial and pipeline milestones remain unchanged.
Rite of passage?
Personally, I'm not seeing much in that press release to be gloomy about.
That said, change can be hard for investors, particularly when an outgoing CEO has led a company to success -- as in the case of Dayno, who deserves significant credit in the development of Wakix (he was chief medical officer at the time). I'd probably take this opportunity to load up on the still high-potential Harmony at a discount.
Should you buy stock in Harmony Biosciences right now?
Before you buy stock in Harmony Biosciences, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Harmony Biosciences wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $379,123!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,408,822!*
Now, it’s worth noting Stock Advisor’s total average return is 950% — a market-crushing outperformance compared to 215% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
See the 10 stocks »
*Stock Advisor returns as of October 12, 2026.
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Recommended Articles
