Savvy Trades and Investments

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HRMY +.35 to 32.91, analyst commentary -

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Cantor Fitzgerald analyst Charles Duncan lowered the firm's price target on Harmony Biosciences to $71 from $75 and keeps an Overweight rating on the shares. Despite the underperformance due to unforeseen specialty pharmacy-related low inventory levels at the end of Q2, the company reported Q2 was the strongest quarter for new-patient starts, with the highest top-line prescription demand since launch, the analyst tells investors in a research note. Top-line outperformance in FY23 for WAKIX revenues is possible based on reported new-patient starts, average number of patients on drug, and consistency in treatment persistence, the firm contends.

Mizuho lowered the firm's price target on Harmony Biosciences to $54 from $60 and keeps a Buy rating on the shares post the Q2 report. The analyst cites a revised Wakix outlook for the target drop but stays at Buy ahead of the company's Q4 catalysts.