Harrow (NASDAQ:HROW) Sets New 12-Month Low – Time to Sell?

Shares of Harrow, Inc. (NASDAQ:HROW) reached a new 52-week low during trading on Friday. The company traded as low as $27.00 and last traded at $29.16, with a volume of 650795 shares. The stock had previously closed at $30.52.

Analyst Ratings Changes

A number of brokerages have issued reports on HROW. Leerink Partners started coverage on shares of Harrow in a report on Wednesday, September 9th. They issued an “outperform” rating and a $45.00 target price for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a research note on Monday, July 20th. Zacks Research upgraded Harrow from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 9th. Wall Street Zen raised Harrow from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, BTIG Research reaffirmed a “buy” rating and set a $63.00 price objective on shares of Harrow in a report on Wednesday. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.17.

Harrow Stock Performance

The company has a current ratio of 2.24, a quick ratio of 2.08 and a debt-to-equity ratio of 19.70. The firm has a market capitalization of $1.11 billion, a PE ratio of -29.23 and a beta of 0.19. The stock’s 50 day moving average price is $36.48 and its two-hundred day moving average price is $37.58.

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

Insider Buying and Selling at Harrow

In other news, insider Amir Shojaei sold 11,250 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $40.00, for a total value of $450,000.00. Following the completion of the transaction, the insider directly owned 11,250 shares of the company’s stock, valued at $450,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.80% of the stock is currently owned by company insiders.

Institutional Trading of Harrow

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Harrow in the 2nd quarter valued at about $116,373,000. Bamco Inc. NY acquired a new stake in shares of Harrow during the 2nd quarter worth about $34,373,000. Jupiter Topco LLC purchased a new stake in shares of Harrow during the second quarter worth about $24,596,000. Rice Hall James & Associates LLC purchased a new stake in shares of Harrow during the second quarter worth about $16,459,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Harrow by 56.4% in the first quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company’s stock valued at $20,428,000 after buying an additional 208,972 shares during the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

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.