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Fly News Breaks for March 14, 2019
AGN, HROW
Mar 14, 2019 | 09:10 EDT
Lake Street analyst Brooks O'Neil views the post-earnings selloff yesterday in shares of Harrow Health (HROW) as an overreaction. He views the company's Q4 results as "solid" and affirms a Buy rating on the shares with a $10 price target. The core ophthalmology business is growing nicely while the Project 15 businesses "will drive significant shareholder value," O'Neil tells investors in a research note. Management highlighted an effort to resolve outstanding litigation this year, and one key case with Allergan (AGN) is due for trial before mid-year, the analyst adds. He believes risks related to this case are fully reflected in the company's valuation. In addition, the judge has ruled against Allergan in a similar case, says O'Neil.
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