Harrow (NASDAQ:HROW) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Harrow (NASDAQ:HROW) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

A number of other research firms have also weighed in on HROW. HC Wainwright boosted their target price on Harrow from $64.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $94.00 target price on shares of Harrow in a report on Tuesday, November 11th. Lake Street Capital raised their price target on shares of Harrow from $42.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, September 29th. LADENBURG THALM/SH SH upped their price objective on shares of Harrow from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $71.43.

Harrow Trading Down 1.2%

Shares of Harrow stock traded down $0.56 during trading on Monday, reaching $46.63. The company’s stock had a trading volume of 94,836 shares, compared to its average volume of 710,434. Harrow has a 52-week low of $20.85 and a 52-week high of $54.85. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -470.70 and a beta of 0.02. The firm’s 50-day moving average is $44.61 and its two-hundred day moving average is $40.43. The company has a quick ratio of 2.52, a current ratio of 2.72 and a debt-to-equity ratio of 5.21.

Harrow (NASDAQ:HROW) last issued its earnings results on Monday, November 10th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Harrow had a negative net margin of 1.99% and a positive return on equity of 28.71%. The company had revenue of $71.64 million for the quarter, compared to analysts’ expectations of $73.70 million. On average, sell-side analysts anticipate that Harrow will post -0.53 earnings per share for the current year.

Institutional Trading of Harrow

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its position in Harrow by 102.5% during the 1st quarter. Royal Bank of Canada now owns 9,813 shares of the company’s stock valued at $261,000 after acquiring an additional 4,967 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Harrow by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,146 shares of the company’s stock valued at $483,000 after purchasing an additional 790 shares in the last quarter. Strs Ohio purchased a new position in shares of Harrow during the first quarter valued at approximately $149,000. Rhumbline Advisers boosted its position in shares of Harrow by 7.2% in the 1st quarter. Rhumbline Advisers now owns 42,975 shares of the company’s stock worth $1,143,000 after purchasing an additional 2,879 shares in the last quarter. Finally, Voya Investment Management LLC boosted its position in shares of Harrow by 4,035.5% in the 1st quarter. Voya Investment Management LLC now owns 381,461 shares of the company’s stock worth $10,147,000 after purchasing an additional 372,237 shares in the last quarter. 72.76% of the stock is owned by hedge funds and other 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.