From Nasdaq, Inc.:

Harmony Biosciences Holdings (NASDAQ: HRMY) stock took a hit on the first trading day of 2024, falling nearly 5% after an analyst at Bank of America recommended a sell with a price target of $30 per share. The concerns stem from a lack of “high-impact catalysts” and the impending loss of exclusivity of its only FDA-approved product, Wakix, scheduled for August 2026. While Harmony is profitable, the downgrade may impact investor sentiment on its prospects. Bank of America is an advertising partner of The Ascent, a Motley Fool company. The Motley Fool has positions in and recommends Bank of America. The views expressed are those of the author and not necessarily Nasdaq, Inc.



Read more: Why Harmony Biosciences Stock Got Slammed Today