In a report released today, Ami Fadia from Needham reiterated a Buy rating on Harmony Biosciences Holdings, with a price target of $41.00.
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Ami Fadia has given her Buy rating due to a combination of factors that suggest potential for future growth despite recent setbacks. The primary reason for maintaining a positive outlook on Harmony Biosciences Holdings is the company’s ability to generate shareholder value through continued success with Wakix, a key product in their portfolio. The management’s execution on this front is seen as a strong driver for the company’s performance.
Additionally, the company’s robust pipeline, which includes multiple opportunities for development, and a solid financial position further support the Buy rating. While the recent Phase 3 study results for ZYN002 in Fragile X Syndrome were disappointing, these were not entirely unexpected and do not overshadow the company’s overall potential. The analyst believes that the company’s strategic focus and financial health position it well for future success.
Fadia covers the Healthcare sector, focusing on stocks such as Biogen, Jazz Pharmaceuticals, and Immuneering. According to TipRanks, Fadia has an average return of 13.2% and a 49.89% success rate on recommended stocks.
In another report released on September 12, UBS also maintained a Buy rating on the stock with a $50.00 price target.