Needham lowered the firm’s price target on Harmony Biosciences (HRMY) to $48 from $49 and keeps a Buy rating on the shares. Feedback from an expert call and positive pivotal data from Takeda (TAK) underscore that OX2R agonists will impact use of other daytime treatments like Harmony’s Wakix, the analyst tells investors in a research note. As such, Needham increased the rate of Wakix’s market share decline in narcolepsy type I.
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