The Chart of the Day belongs to the eye care pharmaceutical company Harrow (HROW) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 8/9 the stock gained 20.76%.
Harrow, Inc., an eyecare pharmaceutical company, engages in the discovery, development, and commercialization of ophthalmic pharmaceutical products. The company offers ImprimisRx, an ophthalmology-focused compounded medications. It also provides IHEEZO, a chloroprocaine hydrochloride ophthalmic gel; ophthalmic solutions, including IOPIDINE, VEVYE, and ZERVIATE; MAXITROL eye drops; ILEVRO and NEVANAC, a non-steroidal and anti-inflammatory eye drop for pain and inflammation associated with cataract surgery; VIGAMOX, a fluoroquinolone antibiotic eye drop for the treatment of bacterial conjunctivitis; MAXIDEX and FLAREX, a steroid eye drop for steroid-responsive inflammatory conditions of the palpebral and bulbar conjunctiva, cornea, and anterior segment of the globe and the eye; TRIESENCE, a steroid injection for the treatment of ophthalmic diseases and for visualization during vitrectomy; and NATACYN, a sterile, antifungal drug for the treatment of fungal blepharitis, conjunctivitis, and keratitis. In addition, it offers TOBRADEX ST, a tobramycin and dexamethasone ophthalmic suspension; VERKAZIA cyclosporine ophthalmic emulsion; NEVANAC, a non-steroidal, anti-inflammatory eye drop; and FRESHKOTE preservative free (PF) is a lubricant eye drop. The company was formerly known as Harrow Health, Inc. and changed its name to Harrow, Inc. in September 2023. Harrow, Inc. was founded in 1998 and is headquartered in Nashville, Tennessee.
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Barchart Technical Indicators:
- 100% technical buy signals
- 177.78+ Weighted Alpha
- .77 - 60 month Beta
- 174.34% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 14 new highs and up 77.58% in the last month
- Relative Strength Index 80.72%
- Technical support level at $42.72
- Recently traded at $43.40 with 50 day moving average of $27.38
Fundamental Factors:
- Market Cap $1.56 billion
- Revenue expected to grow 49.50% this year and another 41.20% next year
- Earnings estimated to increase 23.70% this year, an additional 227.30% next year and continue to compound at an annual rate of 15.00% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analyst gave 4 strong buy opinions on the stock
- Analysts' price targets are between $44.80 and $50.00 with a consensus of $46.20
- Value Line gives the stock its above average rating of 2
- CFRAs MarketScope rates the stock a hold
- MorningStar rates the stock an average 3 star with Fair Value at $49.59 or 10% under valued
- 2,720 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
