Mizuho reiterated its Outperform rating and $50.00 price target for Harmony Biosciences. The firm issued the update after reviewing trial transcripts regarding patent litigation for the company’s primary drug, Wakix.
Analysts labeled recent downgrades following the February 2026 trial as premature and unjustified. Mizuho now views Harmony as a slight favorite in the ongoing legal proceedings.
The firm maintains its base-case assumption for a Wakix loss of exclusivity in 2030. Patent protection for the drug remains the critical driver for Harmony’s future revenue streams.