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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HRMY:
- Harmony Biosciences price target lowered to $55 from $70 at H.C. Wainwright
- Sell Rating for Harmony Biosciences: Setbacks in R&D and Uncertain Pipeline Outlook
- Harmony Biosciences Phase 3 Study Misses Endpoint
- Morning News Wrap-Up: Wednesday’s Biggest Stock Market Stories
- Micron reports Q4 beat, Instagram reports 3B MAUs: Morning Buzz