Mizuho Lifts Harmony Biosciences Target to $50, Citing Confidence in Fragile X Trial

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) is one of the best cheap growth stocks to buy according to analysts. On August 11, 2025, Mizuho Securities raised its price target on Harmony Biosciences from $48 to $50 while maintaining an Outperform rating on the stock.

The update came following investor meetings that, according to the firm, increased their confidence in Harmony’s ongoing Phase 3 trial of ZYN002 for Fragile X syndrome. Based on the updated outlook, Mizuho adjusted its probability-of-success estimate for the trial to 60%.

Mizuho Lifts Harmony Biosciences Target to $50, Citing Confidence in Fragile X Trial

Photo by Myriam Zilles on Unsplash

The ZYN002 trial is a key pipeline focus for Harmony and represents one of its more advanced late-stage programs. A successful outcome could help the company diversify beyond its lead asset, WAKIX®, and strengthen its position in neurological rare disease markets. While no further timeline details were provided in the rating note, the trial’s topline data is expected within the current quarter.

Harmony Biosciences Holdings Inc. (NASDAQ:HRMY), headquartered in Plymouth Meeting, Pennsylvania, is a commercial-stage pharmaceutical company focused on central nervous system disorders. Its lead product, WAKIX® (pitolisant), is FDA-approved for the treatment of excessive daytime sleepiness or cataplexy in adult patients with narcolepsy.

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Disclosure: None.