Mizuho lowered the firm’s price target on Harmony Biosciences (HRMY) to $42 from $52 and keeps an Outperform rating on the shares. The firm updated the company’s model to reflect the FDA refusal to file letter for Wakix in idiopathic hypersomnia. Beyond Harmony’s reporting of Q4 results next week, Mizuho looks to the potential of positive Phase 3 data for ZYN-002 in fragile X syndrome as a “rallying point for the story.”
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