Commerce Bank Takes Position in Harrow, Inc. $HROW

Commerce Bank bought a new stake in shares of Harrow, Inc. (NASDAQ:HROW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 22,430 shares of the company’s stock, valued at approximately $953,000. Commerce Bank owned about 0.06% of Harrow as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. bought a new stake in Harrow in the fourth quarter worth $26,000. KBC Group NV bought a new position in shares of Harrow during the first quarter valued at about $31,000. Raymond James Financial Inc. bought a new position in shares of Harrow during the second quarter valued at about $48,000. SBI Securities Co. Ltd. grew its stake 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 valued at $52,000 after buying an additional 846 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of Harrow in the second quarter worth about $72,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Insider Buying and Selling

In other Harrow news, insider Amir Shojaei sold 11,250 shares of the company’s stock in a transaction on 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. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.80% of the company’s stock.

Harrow Trading Down 4.8%

NASDAQ HROW opened at $39.33 on Thursday. The stock has a market cap of $1.47 billion, a P/E ratio of -39.33 and a beta of 0.28. Harrow, Inc. has a fifty-two week low of $28.54 and a fifty-two week high of $54.85. The stock has a 50 day simple moving average of $41.48 and a two-hundred day simple moving average of $39.65. The company has a debt-to-equity ratio of 19.70, a quick ratio of 2.08 and a current ratio of 2.24.

Harrow (NASDAQ:HROW) last announced its earnings results on Monday, August 10th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 13.51% and a negative return on equity of 38.00%.

Wall Street Analyst Weigh In

HROW has been the subject of a number of recent research reports. BTIG Research reissued a “buy” rating and issued a $63.00 target price on shares of Harrow in a research note on Tuesday, August 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a research report on Monday, July 20th. Cantor Fitzgerald decreased their price target on Harrow from $91.00 to $88.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Zacks Research downgraded Harrow from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen upgraded Harrow from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Harrow currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.43.

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.