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Investing.com - Mizuho (NYSE:MFG) has raised its price target on Harmony Biosciences Holdings Inc. (NASDAQ:HRMY) to $50.00 from $48.00 while maintaining an Outperform rating on the stock. The company, currently trading at $34.19, shows strong financial health with an InvestingPro Overall Score of 3.7 (GREAT) and maintains a favorable P/E ratio of 10.8x.
The price target increase follows recent investor meetings with Harmony (JO:HARJ) Biosciences management, which took place shortly after the company’s second-quarter 2025 results and ahead of upcoming Phase 3 clinical trial data for ZYN002 in Fragile X Syndrome (FXS).
Mizuho noted that investors were "generally positive" on the Harmony Biosciences story during these meetings, with discussions covering all elements of the company’s businesses.
The firm cited increased confidence in a positive outcome for the upcoming Phase 3 trial for ZYN002, which was a key focus during the investor meetings.
As a result of this increased confidence, Mizuho has raised its probability of success assumption for ZYN002 to 60% from the previous 50%, driving the price target increase that implies approximately 50% upside potential for the stock.
In other recent news, Harmony Biosciences Holdings reported its second-quarter 2025 earnings, revealing a notable performance. The company achieved an earnings per share (EPS) of $0.92, surpassing analyst expectations of $0.72 by 27.78%. However, the company’s revenue slightly missed projections, coming in at $200.5 million compared to the anticipated $204.59 million. These financial results reflect mixed outcomes for the company, with a strong EPS but a shortfall in revenue. Despite this earnings beat, the stock experienced a pre-market decline, indicating varied investor reactions. Analysts had projected different outcomes for the company’s financial performance, and these results provide insight into the current state of Harmony Biosciences. The company’s performance in the recent quarter continues to be a point of interest for investors and analysts alike.
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