Analyst Ami Fadia from Needham maintained a Buy rating on Harmony Biosciences Holdings (HRMY – Research Report) and decreased the price target to $49.00 from $50.00.
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Ami Fadia’s rating is based on several positive indicators for Harmony Biosciences Holdings. The company reported first-quarter sales for Wakix that aligned with market expectations, while its earnings per share (EPS) exceeded consensus estimates by a significant margin. This EPS beat was attributed to an improved gross margin and reduced research and development expenses, despite an increase in selling, general, and administrative costs.
Additionally, the number of patients using Wakix has been steadily increasing, which supports the company’s revenue growth prospects. Harmony Biosciences also maintained its revenue guidance for the fiscal year 2025, which suggests confidence in its financial outlook. Furthermore, the company is making strategic moves to extend its patent portfolio, potentially securing its market position for the long term. These factors collectively underpin the Buy rating given by Ami Fadia.
According to TipRanks, Fadia is a 2-star analyst with an average return of 0.0% and a 41.87% success rate. Fadia covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Biogen, and Jazz Pharmaceuticals.
In another report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $44.00 price target.