Raymond James says buy Harmony on weakness after ‘low quality’ short report

Raymond James analyst Danielle Brill reiterates an Outperform rating on Harmony Biosciences after a short report was published, stating that the report is "an intimidating 366 pages long," but "lacks substance." The short thesis of the "low quality" report is "pretty much baseless" given that the report believes the FDA failed to do their jobs, but the firm sees "zero indication of that" and believes Wakix’s safety profile is not an issue based on its own diligence with prescribers. QTc prolongation is already a known effect of pitolisant, is included on the label as a warning, and "is – and has been – a major focus for the FDA," the analyst added.