Harrow (NASDAQ:HROW) Shares Up 10.2% – Time to Buy?

Harrow, Inc. (NASDAQ:HROW) was up 10.2% during trading on Wednesday . The stock traded as high as $44.20 and last traded at $44.28. Approximately 253,703 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 547,382 shares. The stock had previously closed at $40.17.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. B. Riley reiterated a “buy” rating and set a $74.00 target price (up previously from $70.00) on shares of Harrow in a research report on Wednesday, October 1st. BTIG Research reiterated a “buy” rating and issued a $63.00 target price on shares of Harrow in a research report on Wednesday, September 24th. LADENBURG THALM/SH SH upped their price target on shares of Harrow from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. HC Wainwright boosted their price objective on shares of Harrow from $64.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Finally, Zacks Research lowered shares of Harrow from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Harrow currently has a consensus rating of “Moderate Buy” and an average price target of $71.43.

Harrow Price Performance

The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -444.91 and a beta of 0.07. The company has a debt-to-equity ratio of 5.21, a current ratio of 2.72 and a quick ratio of 2.52. The stock’s 50 day simple moving average is $40.20 and its two-hundred day simple moving average is $36.39.

Harrow (NASDAQ:HROW) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. The firm had revenue of $71.64 million during the quarter, compared to analysts’ expectations of $73.70 million. Harrow had a positive return on equity of 28.71% and a negative net margin of 1.99%. On average, analysts forecast that Harrow, Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harrow

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP bought a new position in Harrow in the 1st quarter valued at about $32,000. Raymond James Financial Inc. bought a new position in shares of Harrow in the second quarter valued at approximately $48,000. State of Alaska Department of Revenue purchased a new position in shares of Harrow during the third quarter valued at approximately $83,000. State of Wyoming bought a new stake in Harrow during the first quarter worth $97,000. Finally, Tower Research Capital LLC TRC raised its position in Harrow by 345.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,373 shares of the company’s stock valued at $103,000 after buying an additional 2,615 shares during the last quarter. 72.76% of the stock is currently owned by institutional investors and hedge funds.

About Harrow

Harrow, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company was formerly known as Imprimis Pharmaceuticals, Inc and changed its name to Harrow Health, Inc in December 2018. Harrow Health, Inc was incorporated in 2006 and is headquartered in Nashville, Tennessee.