William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on HROW stock, giving a Buy rating on August 8.
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Lachlan Hanbury Brown has given his Buy rating due to a combination of factors including Harrow Health’s strong operational efficiency and strategic partnerships. Despite the company’s revenue coming in slightly below expectations, Harrow Health managed to exceed bottom-line estimates with a reported net income of $5.0 million, which was a significant improvement over the anticipated net loss. This was largely attributed to lower-than-expected operating expenses.
Moreover, the company’s strategic alliance with Apollo Care is expected to enhance Vevye’s distribution network and insurance coverage, potentially stabilizing or increasing net prices in the future. Additionally, the rebound in Iheezo’s performance, with prescription volumes and net prices exceeding expectations, further supports the positive outlook. These elements collectively contribute to the confidence in Harrow Health’s growth prospects, justifying the Buy rating.