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Investing.com - BTIG raised its price target on Harrow Health (NASDAQ:HROW) to $63.00 from $62.00 on Thursday, while maintaining a Buy rating on the stock. The new target aligns with the broader analyst consensus, as InvestingPro data shows analyst targets ranging from $42 to $76, suggesting significant upside potential. The company, currently valued at $1.35 billion, has shown strong momentum with a nearly 10% gain in the past week.
The research firm cited management’s reiterated 2025 sales guidance of $280 million as plausible, despite noting a modest decline in VEVYE sales. This decline was attributed to patients transitioning from paying full cost to utilizing the VEVYE-4-ALL program, which reduced the average cost from about $200 to approximately $150. According to InvestingPro, the company has demonstrated strong revenue growth of 47.7% in the last twelve months, maintaining an impressive gross profit margin of 74.6%.
BTIG highlighted Harrow’s strategy of prioritizing patient access through programs like VEVYE-4-ALL and the newly mentioned IHEEZO-4-All initiative, which aims to educate providers about reimbursement opportunities for IHEEZO in intraocular injections for wet age-related macular degeneration.
The firm noted Harrow’s growing position as a "one-stop player" in eye care, evidenced by its recent acquisition of two biosimilars, BYOOVIZ and OPUVIZ, which are administered through eye injections and could potentially be bundled with IHEEZO.
BTIG emphasized Harrow’s business model advantage, leveraging its decade-long commercial relationships with approximately 10,000 doctors and eyecare centers across the United States to facilitate drug adoption through programs like VFA and IFA. While currently not profitable, InvestingPro analysis indicates expected profitability this year, with 12 additional exclusive insights available to subscribers through the comprehensive Pro Research Report.
In other recent news, Harrow Health reported its second-quarter 2025 earnings, with revenue reaching $63.7 million, marking a 30% increase compared to the previous year. However, this revenue figure was slightly below the expectations set by analysts at H.C. Wainwright, who had projected $68.0 million, and other forecasts of $66 million. Despite the revenue shortfall, the company’s earnings per share (EPS) significantly surpassed expectations, coming in at $0.24 against the anticipated $0.01. Harrow Health also reported a net income of $5.0 million, or $0.13 per diluted share, exceeding H.C. Wainwright’s estimate of $1.1 million. Following these results, H.C. Wainwright raised its price target for Harrow Health to $64.00 from $60.00, maintaining a Buy rating. Analysts attribute the company’s strong performance to its strategic initiatives and product growth. These developments have contributed to a positive outlook among investors, despite the revenue miss.
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