Harmony Biosciences patent news ‘clear positive,’ says Mizuho

Mizuho analyst Graig Suvannavejh keeps a Buy rating on Harmony Biosciences with a $54 price target after the U.S. Patent and Trademark Office dismissed a patent challenge that was recently initiated by Scorpion Capital. The news is a “clear positive” for both Harmony the company and the shares, the analyst tells investors in a research note. The decision removes “one of several key overhangs that are likely keeping a lid on recent stock performance,” the analyst tells investors in a research note.