Harrow (NASDAQ:HROW) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Harrow (NASDAQ:HROW) from a sell rating to a hold rating in a research note released on Saturday morning.

Other equities research analysts have also recently issued research reports about the stock. BTIG Research reaffirmed 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. Cantor Fitzgerald reduced their price objective on shares of Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Finally, Zacks Research lowered Harrow from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Harrow presently has an average rating of “Moderate Buy” and an average price target of $69.43.

Harrow Stock Performance

HROW stock opened at $39.47 on Friday. The company has a debt-to-equity ratio of 19.70, a current ratio of 2.24 and a quick ratio of 2.08. The business has a 50-day moving average price of $41.07 and a 200 day moving average price of $39.83. The company has a market capitalization of $1.48 billion, a P/E ratio of -39.47 and a beta of 0.28. Harrow has a 1-year low of $28.54 and a 1-year high of $54.85.

Harrow (NASDAQ:HROW) last issued 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 return on equity of 38.00% and a negative net margin of 13.51%. As a group, equities research analysts forecast that Harrow will post 0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Harrow news, insider Amir Shojaei sold 11,250 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were 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 in the company, valued at approximately $450,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.80% of the company’s stock.

Institutional Trading of Harrow

A number of institutional investors have recently modified their holdings of HROW. BlackRock Inc. purchased a new position in shares of Harrow in the 2nd quarter worth approximately $116,373,000. Bamco Inc. NY purchased a new stake in Harrow during the second quarter valued at approximately $34,373,000. Jupiter Topco LLC purchased a new stake in Harrow during the second quarter valued at approximately $24,596,000. Rice Hall James & Associates LLC acquired a new stake in Harrow in the second quarter valued at approximately $16,459,000. Finally, Dimensional Fund Advisors LP boosted its stake in 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 acquiring an additional 208,972 shares in the last quarter. 72.76% of the stock is currently owned by 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.