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Investing.com - H.C. Wainwright has reiterated its Buy rating and $60.00 price target on Harrow Health (NASDAQ:HROW), currently trading at $36.14, following the company’s announcement of a definitive agreement with Samsung (KS:005930) Bioepis. According to InvestingPro data, the company has shown strong momentum with a 47% return over the past year.
The agreement grants Harrow exclusive U.S. commercial rights to two ophthalmology biosimilars: BYOOVIZ (ranibizumab-nuna), which references LUCENTIS, and OPUVIZ (aflibercept-yszy), which references EYLEA.
Harrow will assume full responsibility for commercializing BYOOVIZ in the U.S. once the transition of commercial rights from the previous holder back to Samsung Bioepis is completed, expected by the end of 2025.
The company plans to use its established commercial infrastructure and national reach to accelerate market uptake of these biosimilars, which are anti-VEGF agents used for treating retinal disorders, particularly wet AMD (NASDAQ:AMD).
The U.S. launch date for OPUVIZ remains undetermined as Regeneron (NASDAQ:REGN) is currently in litigation with multiple manufacturers of EYLEA biosimilars, including Samsung Bioepis.
In other recent news, Harrow Health has entered a definitive agreement with Samsung Bioepis to acquire exclusive U.S. commercial rights to two ophthalmology biosimilars, BYOOVIZ and OPUVIZ. This acquisition will position Harrow in the retinal disease treatment market, which is a significant opportunity in the U.S. The company plans to leverage its established commercial infrastructure to market these biosimilars, providing more affordable alternatives to existing therapies. In financial developments, Harrow Health reported first-quarter 2025 revenue of $47.8 million, marking a 38% year-over-year increase, although it fell short of some analysts’ expectations. Despite this, Harrow’s management remains confident in achieving its revenue target of over $280 million for 2025. Analyst firms such as Cantor Fitzgerald and BTIG have initiated coverage on Harrow Health with positive ratings, highlighting the company’s strategic shift and growth potential in the ophthalmology sector. William Blair also set an Outperform rating, emphasizing the promising growth trajectories of Harrow’s branded products. H.C. Wainwright raised its price target for Harrow Health to $60, maintaining a Buy rating, and noted the significant growth potential of the VEVYE product, which saw a 35% quarter-over-quarter revenue increase.
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