HROW - Harrow: Merits A Buy On Sales Potential

2024-05-02 12:20:24 ET

Summary

• Harrow, Inc. shares have dropped 45% since spring 2023, but the launch of Iheezo and Vevye suggest a potential rebound.
• Iheezo, an ocular anesthetic, has a substantial market opportunity and is expected to drive significant revenue for Harrow.
• Vevye, a dry eye therapy, also has a significant total addressable market and has shown promising early returns since its launch.
• A full investment analysis around Harrow follows in the paragraphs below.

Shares of ophthalmology-focused specialty pharmaceutical concern Harrow, Inc. ( HROW ) are down some 45% since their highs in the spring of 2023. However, they seem likely to rebound as the market starts to look at the potential for Iheezo. Its launch and that of dry eye therapy Vevye suggest that the company's FY24 net revenue outlook of $180 million plus might be very conservative. In addition, the recent insider and beneficial owner buying also merited a deeper dive....

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