In a report released yesterday, Thomas Shrader from BTIG maintained a Buy rating on Harrow Health, with a price target of $63.00.
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Thomas Shrader has given his Buy rating due to a combination of factors that highlight Harrow Health’s promising growth prospects. The company has updated its revenue guidance, indicating a strategic focus on accelerating growth for its major products. Notably, VEVYE has shown significant potential, capturing about 10% of the DED market and expected to reach peak sales of $500 million. This growth is supported by ongoing reimbursement efforts and a new contract that will cover tens of millions of lives by 2026.
Additionally, IHEEZO has demonstrated strong performance, with expectations of capturing a substantial market share in both private and academic settings. The enthusiasm from key opinion leaders suggests a broader adoption of the product, which could lead to higher sales than initially projected. Furthermore, the MELT franchise is seen as a valuable asset with potential applications across various medical procedures, offering protection against reimbursement capitation. These factors, combined with a solid financial position, underpin Shrader’s positive outlook on Harrow Health’s stock.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $69.00 price target.