Mizuho lowered the firm’s price target on Harmony Biosciences (HRMY) to $35 from $50 and keeps an Outperform rating on the shares. The firm cites the company’s negative Phase data for ZYN002 in fragile X syndrome for the target cut. However, Mizuho still sees a favorable risk/reward for the shares given the optionality with Harmony’s remaining pipeline.
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