Zacks Research Downgrades Harrow (NASDAQ:HROW) to Hold

Harrow (NASDAQ:HROW) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a report on Thursday, January 22nd. HC Wainwright lifted their price objective on Harrow from $64.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. LADENBURG THALM/SH SH increased their target price on Harrow from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $94.00 target price on shares of Harrow in a report on Tuesday, November 11th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $71.43.

Harrow Trading Up 5.1%

HROW opened at $47.19 on Monday. The firm’s fifty day moving average is $46.84 and its two-hundred day moving average is $41.76. The firm has a market cap of $1.75 billion, a PE ratio of -471.85 and a beta of 0.07. Harrow has a twelve month low of $20.85 and a twelve month high of $54.85. The company has a debt-to-equity ratio of 5.21, a quick ratio of 2.52 and a current ratio of 2.72.

Harrow (NASDAQ:HROW) last released its quarterly earnings data on Monday, November 10th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The business had revenue of $71.64 million during the quarter, compared to analysts’ expectations of $73.70 million. Harrow had a negative net margin of 1.99% and a positive return on equity of 28.71%. Equities research analysts anticipate that Harrow will post -0.53 EPS for the current year.

Institutional Investors Weigh In On Harrow

A number of hedge funds and other institutional investors have recently bought and sold shares of HROW. SBI Securities Co. Ltd. grew its holdings in shares of Harrow by 393.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company’s stock valued at $52,000 after acquiring an additional 846 shares in the last quarter. Simplicity Wealth LLC acquired a new position in Harrow during the fourth quarter valued at approximately $289,000. Pictet Asset Management Holding SA bought a new position in Harrow in the fourth quarter valued at approximately $248,000. UBS Group AG increased its position in shares of Harrow by 82.0% during the 4th quarter. UBS Group AG now owns 222,362 shares of the company’s stock worth $10,896,000 after purchasing an additional 100,160 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 50,889 shares during the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

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.