Cantor Fitzgerald raised the firm’s price target on Harmony Biosciences (HRMY) to $58 from $51 and keeps an Overweight rating on the shares. Harmony reported Q3 WAKIX revenue of $186M, above consensus estimates, and the firm tells investors in a research note that the franchise has growth potential even in a market with new and generic oxybates. Harmony is set to meet at least the midpoint of the reiterated FY24 revenue guidance of $700M-$720M with Q4 only needing $196.5M, Cantor says, adding that WAKIX is well-positioned to reach adult $1B potential in narcolepsy alone.
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Read More on HRMY:
- Harmony Biosciences price target raised to $59 from $56 at Oppenheimer
- Harmony Biosciences: Strong Q3 and Future Growth
- Harmony Biosciences announces 8M share offering of common stock for holders
- Harmony Biosciences reports Q3 adjusted EPS $1.03, consensus 66c
- Harmony Biosciences still sees 2024 product revenue $700M-$720M