Harrow Health price target raised to $22 from $17 at B. Riley

B. Riley analyst Sahil Kazmi raised the firm’s price target on Harrow Health to $22 from $17 and keeps a Buy rating on the shares following the acquisition of five FDA-approved, ophthalmology focused branded pharmaceutical products from Novartis. The transaction is not only directly synergistic and complementary to Harrow’s existing portfolio, but also "quite timely" as the company should be able to leverage its ongoing launch preparation activities for recently approved surface ocular anesthetic Iheezo to optimize the commercialization plans of the newly acquired products as well, Kazmi tells investors in a research note.