Oppenheimer reiterated an Outperform rating and $70.00 price target for Harmony Biosciences. The company filed a new patent complaint against a generic challenger for its flagship drug, WAKIX.
This legal action asserts U.S. Patent No. 11,945,788 regarding pitolisant manufacturing methods. Analysts believe the move increases litigation complexity and strengthens the likelihood of a settlement.
The filing makes a generic launch unlikely before March 2030. This extended exclusivity secures long-term cash flow following a record second quarter where WAKIX generated $261.3 million in revenue.