H.C. Wainwright Starts Harrow Health (HROW) at Buy

H.C. Wainwright analyst Yi Chen initiates coverage on Harrow Health (NASDAQ: HROW) with a Buy rating and a price target of $57.00.

The analyst comments "Rapid growth driven by a portfolio of branded ophthalmic products. Harrow is a commercial-stage company focused on the development and commercialization of ophthalmic pharmaceutical products for the U.S. market. The company owns U.S. commercial rights to a portfolio of approximately 16 branded products. Of note, Harrow acquired all its branded products when they are largely derisked—in the final stages of development or already progressing toward FDA approval; or already approved but underappreciated by the current owner. This strategy has proven successful for the company’s topline growth. Total revenue grew 22% YoY to $88.6M in 2022 and 47% YoY to $130.2M in 2023. We project 2024 revenue to be $191.8M, representing 47% YoY growth. We believe the company would continue to make meaningful and sensible acquisitions to enrich its ophthalmic product offerings. Current lead products include VEVYE for dry eye disease, IHEEZO for ocular surface anesthesia, and TRIESENCE for vitreous visualization. We are initiating coverage with a Buy rating and 12-month price target of $57 per share."

For an analyst ratings summary and ratings history on Harrow Health click here. For more ratings news on Harrow Health click here.

Shares of Harrow Health closed at $30.89 yesterday.

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