Harrow Health (HROW – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Yi Chen from H.C. Wainwright reiterated a Buy rating on the stock and has a $57.00 price target.
Yi Chen has given his Buy rating due to a combination of factors including Harrow Health’s impressive financial performance and strategic initiatives. The company reported better-than-expected preliminary financial results for the fourth quarter and full year of 2024, with revenue and net income surpassing projections. This strong financial performance is further supported by management’s optimistic outlook for 2025, anticipating over 40% revenue growth.
Additionally, Harrow Health’s launch of the VEVYE Access for All program is seen as a strategic move to enhance patient access and affordability, potentially accelerating market adoption of their eye drop product, VEVYE. The program’s innovative approach, including no prior authorization requirements and expedited prescription fulfillment, positions VEVYE to become a leading treatment for dry eye disease. Furthermore, the company’s valuation, supported by a comparable universe analysis and justified by its successful business strategy, aligns with a 12-month price target of $57, despite potential risks such as market uptake and debt servicing challenges.