Harmony Biosciences downgraded to Hold from Buy at Truist

Truist analyst Danielle Brill downgraded Harmony Biosciences (HRMY) to Hold from Buy with no price target following the conclusion of its bench trial versus Paragraph IV filer AET Pharma. Judge Hall shared initial post-trial thoughts and how she was likely to rule, which the firm thinks “does not bode well” for Harmony, says the analyst, who believes the Wakix franchise “faces substantial risk” and sees a high likelihood that generics will enter the market before 2029