Harrow (NASDAQ:HROW) Stock Rating Reaffirmed as “Buy” by BTIG Research

Harrow (NASDAQ:HROW)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a report issued on Wednesday, Benzinga reports. They currently have a $63.00 price objective on the stock. BTIG Research’s target price would suggest a potential upside of 110.70% from the company’s current price.

Several other brokerages have also recently issued reports on HROW. Wall Street Zen upgraded Harrow from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Leerink Partners assumed coverage on Harrow in a research note on Wednesday, September 9th. They set an “outperform” rating and a $45.00 target price for the company. Zacks Research upgraded Harrow from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 9th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a research note on Monday, July 20th. Seven equities research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.17.

Harrow Trading Down 1.5%

Shares of HROW stock opened at $29.90 on Wednesday. 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 firm has a market cap of $1.12 billion, a PE ratio of -29.97 and a beta of 0.19. The company has a 50-day moving average of $36.81 and a two-hundred day moving average of $37.63. Harrow has a 1-year low of $28.54 and a 1-year high of $54.85.

Harrow (NASDAQ:HROW) last released its earnings results on Monday, August 10th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.28). The firm had revenue of $70.66 million during the quarter, compared to analyst estimates of $70.35 million. Harrow had a negative net margin of 13.51% and a negative return on equity of 38.00%.

Insiders Place Their Bets

In other Harrow news, insider Amir Shojaei sold 11,250 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $40.00, for a total value of $450,000.00. Following the completion of the sale, the insider 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.80% of the company’s stock.

Institutional Investors Weigh In On Harrow

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HROW. BlackRock Inc. acquired a new position in Harrow during the second quarter worth $116,373,000. Bamco Inc. NY purchased a new stake in shares of Harrow in the second quarter valued at $34,373,000. Jupiter Topco LLC acquired a new stake in shares of Harrow during the second quarter valued at $24,596,000. Rice Hall James & Associates LLC acquired a new stake in shares of Harrow during the second quarter valued at $16,459,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Harrow by 56.4% during 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 during the last quarter. Hedge funds and other institutional investors own 72.76% of the company’s stock.

About Harrow

Harrow, Inc is an ophthalmic pharmaceutical company focused on developing, acquiring, and commercializing prescription products for the treatment of eye conditions. Its portfolio is designed to serve ophthalmologists, optometrists, ambulatory surgery centers, and other eye-care providers across areas including dry eye disease, ocular inflammation, infection, and surgical care.

The company’s products include VEVYE, a cyclosporine ophthalmic emulsion for the treatment of signs and symptoms of dry eye disease, and IHEEZO, an ophthalmic anesthetic used in certain ocular procedures.