William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on HROW stock, giving a Buy rating yesterday.
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Lachlan Hanbury Brown has given his Buy rating due to a combination of factors including Harrow Health’s strong performance in specific product lines and effective cost management. Despite a slight reduction in full-year revenue guidance, the company demonstrated robust growth in its Iheezo product, which exceeded expectations and is on track to surpass its annual target. The high reorder rate and influx of new accounts, particularly in the retina segment, indicate strong market acceptance and potential for continued growth.
Additionally, while Vevye’s revenue was slightly below expectations, the company showed positive trends in volume, prescriber growth, and market share. The management’s strategic moves, such as securing additional coverage and expanding partnerships, are expected to bolster future performance. These factors, combined with lower-than-expected operating expenses leading to a positive net income, underpin the Buy rating as they suggest a promising outlook for Harrow Health.
Hanbury Brown covers the Healthcare sector, focusing on stocks such as ARS Pharmaceuticals, Ocular Therapeutix, and Harrow Health. According to TipRanks, Hanbury Brown has an average return of 13.6% and a 57.89% success rate on recommended stocks.