Oppenheimer analyst Andreas Argyrides raised the price target on Harmony Biosciences Holdings Inc. (NASDAQ: HRMY) to $72.00 (from $62.00) while maintaining a Outperform rating.

The analyst comments "HRMY shares closed higher on 4/21 (+9% vs. XBI -1%), as we speculate that the company's recent patent litigation defending Wakix helped dispel bears that expected LOE before 2030. We highlight our unwavering stance on expecting Wakix LOE into 2030, as HRMY has always appeared well-positioned in our view to defend Wakix IP, given 1) settlements achieved with six-out-of-seven generic filers, and the current AET Pharma/Sandoz lawsuit over US11,623,920 marking progress toward settling with the seventh and last filer; 2) the PTAB's decision to decline EPRx twice already for HRMY's polymorph patent (US8,207,197), speaking to the strength and robustness of other Wakix IP; and 3) steady progress toward pediatric exclusivity, with Ph3 PWS data in 2H26. We increase our PT to $72 from $62 prior."