Harrow, Inc. (NASDAQ:HROW) Stock Has Average Target Price of $66.17

Shares of Harrow, Inc. (NASDAQ:HROW) have received an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $66.17.

A number of brokerages have commented on HROW. BTIG Research restated a “buy” rating and issued a $63.00 price target on shares of Harrow in a research report on Tuesday, August 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a report on Monday, July 20th. Zacks Research raised shares of Harrow from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 9th. Leerink Partners assumed coverage on shares of Harrow in a research note on Wednesday, September 9th. They set an “outperform” rating and a $45.00 target price on the stock. Finally, Wall Street Zen raised shares of Harrow from a “sell” rating to a “hold” rating in a report on Saturday, August 15th.

Insiders Place Their Bets

In other news, insider Amir Shojaei sold 11,250 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $40.00, for a total value of $450,000.00. Following the transaction, the insider directly owned 11,250 shares in the company, valued at $450,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.80% of the company’s stock.

Institutional Trading of Harrow

Institutional investors have recently made changes to their positions in the business. KBC Group NV purchased a new position in shares of Harrow in the first quarter worth $31,000. First Bancorp Inc ME bought a new stake in shares of Harrow in the second quarter worth about $64,000. State of Wyoming purchased a new stake in shares of Harrow in the second quarter worth about $72,000. Freestone Grove Partners LP bought a new stake in Harrow in the 2nd quarter worth approximately $157,000. Finally, Persistent Asset Partners Ltd bought a new stake in Harrow in the 2nd quarter worth approximately $169,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Harrow Stock Performance

Harrow stock opened at $30.48 on Wednesday. Harrow has a 52-week low of $28.54 and a 52-week high of $54.85. The company has a market cap of $1.14 billion, a P/E ratio of -30.48 and a beta of 0.19. The company has a quick ratio of 2.08, a current ratio of 2.24 and a debt-to-equity ratio of 19.70. The business has a 50-day simple moving average of $37.12 and a two-hundred day simple moving average of $37.69.

Harrow (NASDAQ:HROW) last announced its earnings results on Monday, August 10th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.28). The business had revenue of $70.66 million for the quarter, compared to the consensus estimate of $70.35 million. Harrow had a negative net margin of 13.51% and a negative return on equity of 38.00%.

Harrow Company Profile

Harrow, Inc is an ophthalmic pharmaceutical company focused on developing, acquiring, and commercializing prescription products for the treatment of eye conditions. Its portfolio is designed to serve ophthalmologists, optometrists, ambulatory surgery centers, and other eye-care providers across areas including dry eye disease, ocular inflammation, infection, and surgical care.

The company’s products include VEVYE, a cyclosporine ophthalmic emulsion for the treatment of signs and symptoms of dry eye disease, and IHEEZO, an ophthalmic anesthetic used in certain ocular procedures.