Harmony Biosciences (HRMY) vs Liquidia (LQDA)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Harmony Biosciences (HRMY) has outperformed Liquidia (LQDA) over the past year, gaining 49.1% versus a gain of 16.4%. Over five years, LQDA leads with a +775.6% price change compared with +0.5% for HRMY. Liquidia is the larger company by market cap ($2.46 billion vs $2.34 billion), about 1.1 times the size.
On valuation, Harmony Biosciences trades at a lower forward P/E (5.7x vs 11.8x for Liquidia). Harmony Biosciences converts more of its revenue into profit, with a net margin of 18.3% versus -43.5%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | HRMY | LQDA |
|---|---|---|
| Share price | $40.18 | $27.47 |
| Market cap | $2.34B | $2.46B |
| 1-day change | +1.46% | -1.96% |
| YTD return | +5.83% | -18.76% |
| 1-year return | +49.10% | +16.36% |
| 5-year return | +0.51% | +775.63% |
| P/E ratio (TTM) | 12.96 | 19.76 |
| Forward P/E | 5.74 | 11.85 |
| EPS (TTM) | $3.10 | $1.39 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $868.45M | $158.32M |
| Revenue growth (YoY) | +21.51% | +1031.18% |
| Net income (latest FY) | $158.69M | $-68.92M |
| Gross margin | 77.16% | — |
| Operating margin | 24.00% | -32.45% |
| Net margin | 18.27% | -43.53% |
| 52-week high | $43.49 | $93.61 |
| 52-week low | $25.52 | $21.94 |
| Distance from 52-week high | -7.61% | -70.65% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +18.57% | +80.81% |
| Average volume | 892.55K | 2.47M |
| Shares outstanding | 58.24M | 89.51M |
| Employees | 293 | 216 |
| Sector | Health Care | Health Care |
| Industry | Biotechnology: Pharmaceutical Preparations | Biotechnology: Pharmaceutical Preparations |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- HRMY has outperformed LQDA by 32.7 percentage points over the past year.
- Liquidia trades at a higher earnings multiple (19.8x vs 13.0x trailing P/E).
- Harmony Biosciences is more profitable, keeping 18.3 cents of every revenue dollar as net income versus -43.5 cents for Liquidia.
- Liquidia grew revenue faster in its latest fiscal year (+1031.18% vs +21.51%).
About Harmony Biosciences
HRMY stock →Harmony Biosciences Holdings, Inc., a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.
Health Care · Biotechnology: Pharmaceutical Preparations · 293 employees
About Liquidia
LQDA stock →Liquidia Corporation, a biopharmaceutical company, develops, manufactures, and commercializes various products for rare cardiopulmonary diseases in the United States. The company's lead product candidates include YUTREPIA, an inhaled dry powder formulation of treprostinil for the treatment of pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD).
Health Care · Biotechnology: Pharmaceutical Preparations · 216 employees
HRMY vs LQDA FAQ
Which is bigger, Harmony Biosciences or Liquidia?
Liquidia (LQDA) is larger, with a market capitalization of $2.46B compared with $2.34B for Harmony Biosciences (HRMY).
Which stock has performed better over the past year, HRMY or LQDA?
HRMY returned +49.10% over the past 12 months, compared with +16.36% for LQDA (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, HRMY or LQDA?
HRMY has the lower trailing P/E at 13.0, versus 19.8 for LQDA. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Are Harmony Biosciences and Liquidia in the same industry?
Yes. Both are classified in the Biotechnology: Pharmaceutical Preparations industry within the Health Care sector.