4. Harrow Health, Inc. (NASDAQ:HROW)
Number of Hedge Fund Holders: 13
Share Price as of October 17: $12.05
Harrow Health, Inc. (NASDAQ:HROW) is a California-based ophthalmic-focused healthcare company that owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company also holds equity interests in multiple clinical-stage pharmaceutical companies. Harrow Health, Inc. (NASDAQ:HROW) is one of the top low price pharma stocks to invest in.
On October 3, Lake Street analyst Brooks O’Neil said he is optimistic about Harrow Health, Inc. (NASDAQ:HROW), as “last week was big” with the company announcing the availability of Fortisite and FDA approval of AMP-100, now branded as Iheezo. He believes there is “a big market” for Fortisite, a compounded antibiotic formulation that can be used to treat eye infections, and expects the drug to be priced at over $100 per bottle. Similarly, the analyst noted that Iheezo has a “very big market” and thinks the price tag for a single dose can be in the range of $500. O’Neil, who would “definitely encourage investors to buy this stock now,” reiterated a Buy rating and a $17 price target on Harrow Health, Inc. (NASDAQ:HROW) shares.
According to Insider Monkey’s data, 13 hedge funds were long Harrow Health, Inc. (NASDAQ:HROW) at the end of June 2022, with collective stakes worth $78.2 million, compared to 13 funds in the prior quarter worth $50.2 million.
Here is what SRK Capital has to say about Harrow Health, Inc. (NASDAQ:HROW) in its Q2 2022 investor letter:
“I have written about Harrow Health in my previous two letters to you, but I find it necessary to continue to explain my thought process in order to convey my conviction in the company. During periods of negative performance, I believe it is more vital than ever that our partners understand my thought process in order for you to adequately discern what it is that I do as your manager. HROW is our largest position, our largest detractor year to date, and the opportunity I am most excited about over the next six months.
Harrow Health is an ophthalmology focused healthcare company. The core business, ImprimisRx, is a compounding pharmacy that customizes medications to the needs of eye care physicians and their patients. It is estimated that north of 90% of ophthalmologists and optometrists use compounded formulations in their practice. Physicians choose to work with ImprimisRx because they are the largest and most trusted compounding pharmacy in the eye care market and have achieved this by solving pain points for physicians and their patients, where others could not satisfy their needs…” (Click here to see the full text)
