Harrow, Inc. (NASDAQ:HROW) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Harrow, Inc. (NASDAQ:HROW) have received a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $69.4286.

A number of analysts have recently issued reports on HROW shares. Weiss Ratings cut shares of Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. BTIG Research reissued a “buy” rating and issued a $63.00 price target on shares of Harrow in a report on Tuesday, May 12th. Cantor Fitzgerald reduced their price objective on Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. B. Riley Financial restated a “buy” rating and set a $65.00 price objective (down from $74.00) on shares of Harrow in a report on Tuesday, April 7th. Finally, Zacks Research raised Harrow from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd.

Harrow Stock Up 4.5%

HROW opened at $44.88 on Friday. Harrow has a 1-year low of $28.54 and a 1-year high of $54.85. The stock’s fifty day simple moving average is $37.90 and its 200 day simple moving average is $41.08. The company has a current ratio of 2.48, a quick ratio of 2.30 and a debt-to-equity ratio of 10.30. The stock has a market cap of $1.67 billion, a PE ratio of -109.46 and a beta of 0.26.

Harrow (NASDAQ:HROW) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.31). Harrow had a positive return on equity of 19.59% and a negative net margin of 5.57%.The company had revenue of $44.20 million for the quarter, compared to the consensus estimate of $52.43 million. During the same period last year, the firm earned ($0.38) earnings per share. As a group, research analysts expect that Harrow will post 0.29 earnings per share for the current year.

Insider Buying and Selling at Harrow

In other news, Director Adrienne L. Graves acquired 1,000 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were purchased at an average cost of $31.07 per share, with a total value of $31,070.00. Following the acquisition, the director directly owned 1,000 shares in the company, valued at $31,070. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Andrew R. Boll acquired 3,500 shares of the stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $29.90 per share, for a total transaction of $104,650.00. Following the transaction, the chief financial officer directly owned 814,679 shares in the company, valued at approximately $24,358,902.10. This trade represents a 0.43% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 12.80% of the company’s stock.

Hedge Funds Weigh In On Harrow

A number of hedge funds have recently bought and sold shares of the business. Penn Capital Management Company LLC boosted its holdings in Harrow by 20.5% in the 4th quarter. Penn Capital Management Company LLC now owns 392,067 shares of the company’s stock valued at $19,257,000 after purchasing an additional 66,589 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Harrow by 807.4% during the fourth quarter. State of Alaska Department of Revenue now owns 15,807 shares of the company’s stock worth $774,000 after purchasing an additional 14,065 shares during the period. Jefferson Bridge Capital LLC acquired a new stake in shares of Harrow in the fourth quarter valued at approximately $2,587,000. Rice Hall James & Associates LLC boosted its stake in shares of Harrow by 8.5% in the fourth quarter. Rice Hall James & Associates LLC now owns 361,998 shares of the company’s stock valued at $17,738,000 after buying an additional 28,303 shares during the period. Finally, Vanguard Group Inc. increased its stake in Harrow by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 1,921,683 shares of the company’s stock worth $94,162,000 after acquiring an additional 50,889 shares during the period. 72.76% of the stock is owned by institutional investors.

Harrow Company Profile

Harrow Health, Inc (NASDAQ: HROW) is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.