Harmony Biosciences Holdings, Inc. (NASDAQ: HRMY) is considered one of the 7 most undervalued pot stocks to buy according to analysts. Mizuho reaffirmed its “Outperform” rating on Harmony and maintained a price target of $48, following Harmony’s presentation of preclinical data for BP1.15205 at the SLEEP 2025 conference.

BP1.15205, Harmony Biosciences’ investigational orexin-2 receptor (OX2R) agonist, demonstrated “significant wake-promoting and cataplexy-suppressing effects” in a mouse model of narcolepsy type 1. Mizuho noted the drug’s favorable efficacy and safety profiles, positioning it as a potent orexin candidate compared to competitors. Harmony’s orexin candidate shows promise for becoming a best-in-class asset in its category.

Harmony Biosciences is a biotech firm making strides in the cannabis sector with the development of ZYN-002, a pharmaceutically manufactured, synthetic CBD gel for rare neuropsychiatric conditions. The company is also working on a cannabinoid-based drug formulated as a gel for transdermal delivery. Mizuho’s near-term focus remains on the Phase 3 readout for ZYN-002 in Fragile X Syndrome.

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Read more at Yahoo Finance: Mizuho Reaffirms “Outperform” on Harmony Biosciences (HRMY) for BP1.15205 Data