Needham analyst Ami Fadia has maintained their bullish stance on HRMY stock, giving a Buy rating on February 20.
Ami Fadia has given her Buy rating due to a combination of factors that positively influence Harmony Biosciences Holdings’ outlook. One significant reason is the company’s strong financial performance in the fourth quarter of 2024, where the earnings per share exceeded expectations by 16%, driven by reduced selling, general, and administrative expenses and a likely lower tax rate. This financial strength is a positive indicator for potential investors.
Another crucial factor is the strategic settlement with Novugen Pharma regarding the generic entry of Wakix, which is now set for January 2030. This settlement is favorable as it resolves one of the challenges posed by generic competition under the Hatch-Waxman Act. Additionally, the company’s pipeline milestones are progressing as planned, providing further confidence in its future growth prospects. These elements combined create a compelling case for a Buy rating on Harmony Biosciences Holdings’ stock.
In another report released on February 20, Mizuho Securities also maintained a Buy rating on the stock with a $42.00 price target.