Streetbeat News

HRMY

Harmony Biosciences Holdings, Inc.

https://www.harmonybiosciences.com

Industry

Biotechnology

Harmony Biosciences Holdings, Inc., a commercial-stage pharmaceutical company, develops and commercializes therapies for patients with rare neurological disorders in the United States. Its product, WAKIX is a medication for the treatment of excessive daytime sleepiness in adult patients with narcolepsy. The company was formerly known as Harmony Biosciences II, Inc. and changed its name to Harmony Biosciences Holdings, Inc. in February 2020. Harmony Biosciences Holdings, Inc. was incorporated in 2017 and is based in Plymouth Meeting, Pennsylvania.

Open

34.52

Mkt cap

2B

Volume

220K

High

35.37

P/E Ratio

16.50

52-wk high

41.61

Low

34.28

Div yield

N/A

52-wk low

22.89

US stocks traded lower with the Nasdaq Composite falling over 1% on Friday. Energy shares climbed by 1.7% while information technology shares rose by just 0.1%. Citigroup Inc reported a 9% YoY increase in net revenue to $20.14 billion, beating the consensus of $19.32 billion. Sigma Additive Solutions, Comtech Telecommunications, and SunOpta saw their shares rise after positive news. Outset Medical, SMART Global Holdings, and Harmony Biosciences Holdings saw their shares drop due to negative news.

Portfolio Pulse from Lisa Levin

October 13, 2023 | 4:02 pm

Harmony Biosciences Holdings Inc (NASDAQ:HRMY) announced topline results from the INTUNE Phase 3 study of pitolisant in patients with idiopathic hypersomnia (IH). Approximately 83% of patients responded positively to the treatment, however, no statistically significant difference was observed between pitolisant and placebo groups on the primary endpoint. The safety profile of pitolisant was consistent with previous findings. HRMY shares are down 36.20% at $19.30.

Portfolio Pulse from Vandana Singh

October 13, 2023 | 2:23 pm

Harmony Biosciences reported no statistically significant difference between pitolisant and placebo in its Phase 3 INTUNE study for IH. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:10 pm

Harmony Biosciences has released topline results from the INTUNE Phase 3 study of pitolisant for idiopathic hypersomnia. The study found no statistically significant difference between pitolisant and placebo groups on the Epworth Sleepiness Scale, which was the primary endpoint.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:06 pm

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has completed its acquisition of Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) for $60 million. The deal includes potential additional payments of up to $140 million subject to the achievement of specific milestones. Zynerba is known for its pharmaceutically produced transdermal cannabinoid therapies for orphan neuropsychiatric disorders. Its lead candidate, Zygel, could serve 80,000 U.S. patients diagnosed with Fragile X syndrome and another 80,000 diagnosed with 22q deletion syndrome.

Portfolio Pulse from Jelena Martinovic

October 11, 2023 | 1:25 pm

Harmony Biosciences (NASDAQ:HRMY) has presented new secondary endpoint data from its Phase 2 study evaluating pitolisant for the treatment of excessive daytime sleepiness in Prader-Willi syndrome. The data showed improvements in behavioral disturbances. The company also announced plans to initiate its Phase 3 registrational TEMPO study in Q4 2023. Pitolisant is marketed as WAKIX® in the U.S. and is FDA approved to treat EDS or cataplexy in adult patients with narcolepsy.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 12:07 pm

Mizuho analyst Graig Suvannavejh has reiterated a 'Buy' rating on Harmony Biosciences (NASDAQ:HRMY) and maintained a price target of $54.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 2:39 pm

Harmony Biosciences has received a notice from Novugen Pharma and Lupin, seeking approval to manufacture and sell a generic version of Wakix in the U.S. This information was disclosed in a SEC 8K filing.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 12:12 pm

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has extended the expiration of its tender offer to acquire all outstanding shares of Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) to October 10, 2023. The tender offer was previously set to expire on September 26, 2023. As of September 26, 2023, approximately 32.1% of Zynerba's outstanding common stock has been tendered.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 12:04 pm

Goldman Sachs analyst Corinne Jenkins has maintained a 'Sell' rating on Harmony Biosciences (NASDAQ:HRMY) and lowered the price target from $40 to $31.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 12:30 pm

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