ALKS

Harmony Biosciences (HRMY) has outperformed the market with a 27.6% share surge over six months, driven by robust Wakix sales growth of 24% to $476.7 million in H1 2026 and promising pipeline candidates BP-205 and EPX-100. The company maintains its $1.0-$1.04B full-year revenue guidance and has $962.5M in cash to fund development. However, competition from Jazz Pharmaceuticals' Xywav and Alkermes' Lumryz, along with patent litigation risks, present headwinds.

Four central nervous system (CNS) pharmaceutical companies—Axsome Therapeutics, Neurocrine Biosciences, Alkermes, and Acadia Pharmaceuticals—are highlighted as relevant investment opportunities ahead of World Mental Health Day. All four companies carry a Zacks Rank #3 (Hold) rating and have strong CNS portfolios with meaningful revenue growth in H1 2026, supported by expanding pipelines addressing psychiatric and neurological disorders.

The global substance use disorder treatment market is projected to grow from $11.6 billion in 2025 to $14.6 billion by 2030, with a compound annual growth rate of 4.6%. Growth is driven by long-acting therapies, telemedicine expansion, drug innovation, and increased government interventions, though challenges include low treatment penetration and stigma.