Harrow (NASDAQ:HROW) Posts Earnings Results

Harrow (NASDAQ:HROW) issued its quarterly earnings data on Monday. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06, FiscalAI reports. Harrow had a negative return on equity of 38.00% and a negative net margin of 13.51%. The company had revenue of $99.30 million during the quarter, compared to analysts’ expectations of $98.59 million.

Harrow Price Performance

Shares of HROW stock opened at $27.47 on Tuesday. The stock’s fifty day moving average is $31.43 and its 200-day moving average is $37.82. The company has a debt-to-equity ratio of 19.70, a quick ratio of 2.08 and a current ratio of 2.24. The stock has a market capitalization of $1.03 billion, a PE ratio of -27.47 and a beta of 0.18. Harrow has a 52 week low of $25.76 and a 52 week high of $54.85.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on HROW shares. Wall Street Zen upgraded shares of Harrow from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a research report on Friday, October 16th. Leerink Partners began coverage on shares of Harrow in a research note on Wednesday, September 9th. They set an “outperform” rating and a $45.00 price objective on the stock. Zacks Research lowered shares of Harrow from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 3rd. Finally, BTIG Research reaffirmed a “buy” rating and set a $63.00 price objective on shares of Harrow in a report on Wednesday, October 7th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.17.

Insider Activity

In related news, insider Amir Shojaei sold 11,250 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $40.00, for a total transaction of $450,000.00. Following the transaction, the insider owned 11,250 shares in the company, valued at $450,000. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 12.80% of the stock is owned by corporate insiders.

About Harrow

Harrow is a pharmaceutical company focused on developing, acquiring and commercializing treatments for eye conditions. Its portfolio includes prescription ophthalmic medicines used in areas such as dry eye disease, eye inflammation and pain management, as well as products used in eye surgery and clinical settings.

The company markets branded products including VEVYE, a treatment for dry eye disease, and IHEEZO, an ophthalmic anesthetic gel. Through its ImprimisRx subsidiary, Harrow also provides compounded medications and related services for ophthalmology practices and patients.

Harrow, formerly known as Harrow Health, is headquartered in Nashville, Tennessee, and primarily serves the U.S.