Why Harmony Biosciences Stock Is Trading Higher Today

Harmony Biosciences Holdings, Inc. HRMY shares are trading higher on Monday as the stock rebounds after falling Friday on Phase 3 INTUNE study data.
 

What To Know: Shares of Harmony fell last Friday after the company announced topline results from the INTUNE study on pitolisant in patients with idiopathic hypersomnia. Harmony noted no statistically significant difference was observed between pitolisant and placebo on ESS. On Monday, shares recovered by over 11%. 

Additionally, three analysts lowered their price targets on the stock on Monday.

• Raymond James analyst Danielle Brill maintained Harmony Biosciences with a Outperform and lowered the price target from $58 to $26.
• Needham analyst Ami Fadia maintained Harmony Biosciences with a Buy and lowered the price target from $66 to $53.
• Piper Sandler analyst David Amsellem maintained Harmony Biosciences with a Overweight and lowered the price target from $72 to $42.

Related Link: Why DexCom Stock Is Rising During Monday's Session

HRMY Price Action: Shares of HRMY were up 11.6% at $23.56 at the time of publication, according to Benzinga Pro. 

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