H.C. Wainwright initiated coverage of Harmony Biosciences (HRMY) with a Buy rating and $75 price target Wakix, Harmony’s lead product that is FDA-approved for type 1 and type 2 narcolepsy, is on track to generate revenues of $714M in 2024 and $870M in 2025, the firm estimates. In 2025, the firm expects the franchise to expand to idiopathic hypersomnia, an area of high unmet need with limited treatment options, and for new pitolisant compounds such as gastro-restricted and high-dose to drive revenues to “blockbuster” $1B-plus status by 2030, the analyst tells investors.
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