spawns/iStock via Getty Images Nashville, Tennessee-based eyecare company Harrow ( NASDAQ: HROW ) continued its recent momentum on Thursday to reach a new 52-week high, adding to its over ~150% YTD rise. The upsurge comes after the maker of ophthalmology-focused medications reported strong Q2 results early this month, sending its stock more than 50% higher in reaction. While HROW’s net loss expanded ~53% YoY to $6.
4M during the quarter, its revenue surged ~46% YoY to $48.9M, indicating ~42% YoY sequential growth, thanks mainly to its ocular anesthetic Iheezo and dry eye disease therapy Vevye. CNBC’s host Jim Cramer featured the company as part of his evening show “ Mad Money ” on Wednesday.
“I’m not ready to chase Harrow ( HROW ) on long-term assumptions at this point, that (sic) are more guesses than estimates at this time,” Cramer said on his show. “I keep following the company. I will look at progress going forward, but for now, I am just not ready to chase the stock,” he added.
Meanwhile, on Wednesday, Seeking Alpha analyst Naysay Analysis launched Harrow ( HROW ) with a Strong Sell rating and a price target of $4. More on Harrow Health Borrowing Cash To Burn It: The Curious Case Of Harrow Harrow: Bulls On Parade Harrow, Inc. (HROW) Q2 2024 Earnings Call Transcript Harrow Health Q2 2024 Earnings Preview Biggest stock movers today: NVDA, DJT, ACN, and more.