Verdict: Side-by-side breakdown using the Bull Rankings model. HRMY scored 88.5, IONS scored 19.3 — HRMY leads.
Compare another set
HRMY
Harmony Biosciences Holdings, Inc.
Biotechnology · Quality-Growth
88.5
$40.28 · $2.3B
fundamentals as of
Score gap
69.2
HRMY leads
IONS
Ionis Pharmaceuticals, Inc.
Biotechnology · Quality-Growth
19.3
$45.28 · $7.5B
fundamentals as of
At a glance · who leads each dimension, on the model's own rules
Fastest growthIONS+33.8%
Strongest balance sheetHRMY0.16
Highest qualityHRMY79 / 100
Largest discount to fair valueHRMY-71%
Side by side · every name on one set of axes
The model, pillar by pillar (0–100 each)
HRMY
stronger →← stronger
IONS
79
Qualityreturns · margins · balance sheet
12
95
Growthrevenue & earnings expansion
77
92
Valuevaluation vs sector peers
8
HRMY is stronger on 3 of 3 pillars.
Fundamentals, head-to-head
HRMY
IONS
$355mC
FCF
-$568mF
+24.3%A-
Rev
+33.8%A
0.16B+
D/E
4.98D
13.0xA
P/E
—
0.38A
PEG
27.33D
—
P/S
8.6xC+
Winner per row is the stronger grade; where grades tie, the better figure breaks it. A true tie or a missing value shows no highlight.
Valuation · DCF cross-check
HRMY
IONS
71% below
Price vs fair valuelower is cheaper
—
~-15%/yr
Growth the price impliesyr-1 FCF growth, fading to 4% · lower = less priced in
—
+168%
1-yr DCF upside
—
+249%
5-yr DCF upside
—
+413%
10-yr DCF upside
—
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
HRMY
Why this score
Durable high returns
IONS
Why this score
Diluting shareholders
The companies
HRMYHarmony Biosciences Holdings, Inc.
Biotechnology · $40.28 · beta 1.01
Why now
Biotechnology · market cap $2.3b. 7% off the 52-week high of $43.49. Revenue growing +24%, comfortably above the S&P median. PEG 0.38 — paying under fair value for the growth rate. 11 sell-side analysts rate this a Buy with a mean 1-yr target of $47.64 (implying +18% upside).
Moat
Net margin 19% beats the market median by a meaningful margin — the company is keeping more of every revenue dollar than the average S&P constituent. ROE 18% is above 15% — the equity base is compounding at a rate the market struggles to discount accurately. FCF converts 196% of net income — earnings translate cleanly into cash.
Risk
Trial-readout binary — late-stage clinical trials carry approve/reject outcomes that swing valuation 30%+; the equity is effectively a portfolio of these binary events, not a steady cash-flow business.
IONSIonis Pharmaceuticals, Inc.
Biotechnology · $45.28 · beta 0.38
Why now
Biotechnology · market cap $7.5b. Down 48% from 52-week high of $86.74 — deep drawdown territory. Revenue growing +34% — in hypergrowth territory. 22 sell-side analysts rate this a Buy with a mean 1-yr target of $83.64 (implying +85% upside).
Moat
Pharma moat is patent runway + pipeline depth — a single approved molecule funds the next generation of bets. Late-stage trials carry binary readouts that swing valuation 30%+.
Risk
D/E 4.98 is elevated — limits strategic flexibility and raises refinancing exposure if rates stay higher for longer. Free cash flow is negative (-$568m) — capital raises or debt issuance likely required; dilution / leverage risk. Currently unprofitable (margin -64.7%) — path to GAAP profitability is the core thesis risk.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.
Where HRMY and IONS diverge
On the headline score the gap is 69.2 points in favor of HRMY. The widest single difference is Value, where HRMY leads by 84.6 points.
ValueHRMY 92.2 · IONS 7.6HRMY +84.6
QualityHRMY 79.5 · IONS 12.3HRMY +67.2
GrowthHRMY 94.5 · IONS 77.2HRMY +17.3
Pillars run 0–100. Value is judged against each company's own sector, so a Value score is a statement about a company relative to its own industry rather than to the other name here. A wide Value gap usually means the market already prices the difference in quality or growth — which is the trade-off this comparison comes down to.
Common questions
Is HRMY or IONS the better stock?
HRMY scores higher: HRMY 88.5, IONS 19.3 out of 100 on the Bull Rankings quality-growth score, which blends business quality, growth and valuation into one number. A higher score means a stronger business at a more reasonable price — it is not a price target or a recommendation.
Where do HRMY and IONS differ most?
The widest gap is value, where HRMY leads by 85 points on the 0–100 pillar scale. HRMY leads all three pillars, so the gap is broad rather than a single-measure difference.
How are HRMY and IONS scored?
Each carries the same 0–100 quality-growth score used everywhere on the site, built from three pillars — quality (profitability and returns on capital), growth (revenue and earnings), and value (what you pay for them) — combined as a geometric mean, so a weak pillar cannot be papered over by a strong one.
How current is this comparison?
The whole universe is re-scored every trading day after the US market close, so the scores and fundamentals here reflect the latest published edition.