BTIG Research Reiterates “Buy” Rating for Harrow (NASDAQ:HROW)

Harrow (NASDAQ:HROW)‘s stock had its “buy” rating reissued by BTIG Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $63.00 target price on the stock. BTIG Research’s price objective would indicate a potential upside of 117.02% from the stock’s previous close.

A number of other research firms have also commented on HROW. Weiss Ratings lowered Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. Zacks Research raised Harrow from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Cantor Fitzgerald cut their price objective on Harrow from $94.00 to $91.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 4th. Nomura lowered Harrow to a “neutral” rating in a research note on Wednesday, March 18th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $65.00 price objective (down from $74.00) on shares of Harrow in a research note on Tuesday, April 7th. Eight 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.86.

Harrow Price Performance

Harrow stock opened at $29.03 on Tuesday. The stock’s 50 day moving average is $37.30 and its 200 day moving average is $42.33. The company has a debt-to-equity ratio of 4.67, a current ratio of 2.20 and a quick ratio of 2.06. The firm has a market cap of $1.08 billion, a P/E ratio of -70.80 and a beta of 0.34. Harrow has a one year low of $24.62 and a one year high of $54.85.

Harrow (NASDAQ:HROW) last posted 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). The company had revenue of $44.20 million during the quarter, compared to analyst estimates of $52.43 million. Harrow had a positive return on equity of 17.50% and a negative net margin of 5.57%.During the same period in the prior year, the firm earned ($0.38) earnings per share. As a group, research analysts expect that Harrow will post 0.48 EPS for the current year.

Hedge Funds Weigh In On Harrow

Institutional investors have recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. acquired a new position in Harrow in the fourth quarter valued at approximately $26,000. KBC Group NV acquired a new position in shares of Harrow during the first quarter worth approximately $31,000. SBI Securities Co. Ltd. raised its position in shares of Harrow by 393.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company’s stock worth $52,000 after purchasing an additional 846 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Harrow during the second quarter worth approximately $48,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Harrow during the third quarter worth approximately $83,000. 72.76% of the stock is owned by institutional investors and hedge funds.

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.