Harmony Biosciences Authorized Repurchase Of Up To $125M Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has authorized a repurchase of up to $125M of its common stock. The timing and amount of the repurchase will be based on various factors, including the capital needs of the business and alternative investment opportunities.
August 01, 2023 | 11:56 am
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Harmony Biosciences' stock repurchase program could potentially increase the stock's price in the short term as it reduces the number of shares in circulation.
Stock repurchase programs are often seen as a sign of a company's confidence in its own stock. By reducing the number of shares in circulation, it can increase the earnings per share and potentially boost the stock's price. However, the actual impact will depend on the timing and amount of the repurchase, as well as other market factors.
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