Harmony Biosciences Holdings, Inc. (HRMY) stock plummeted 5% intraday on Wednesday, amid concerns raised by analysts about the company's pipeline and potential generic competition risks.
Bank of America Securities analyst Jason Gerberry reiterated a Sell rating on Harmony Biosciences, citing worries about the company's pipeline and the possibility of generic competition for its key products in the future.
The sharp decline in Harmony Biosciences' stock price appears to be a reaction to the analyst's cautious outlook, which highlighted pipeline concerns and potential generic competition risks as major headwinds for the biopharmaceutical company.
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