Harrow (NASDAQ:HROW) Shares Down 4.4% – Time to Sell?

Harrow, Inc. (NASDAQ:HROW)’s share price dropped 4.4% during trading on Wednesday . The company traded as low as $44.55 and last traded at $45.60. Approximately 186,130 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 609,366 shares. The stock had previously closed at $47.72.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. B. Riley reiterated a “buy” rating and issued a $74.00 price target (up previously from $70.00) on shares of Harrow in a research note on Wednesday, October 1st. HC Wainwright lifted their price objective on shares of Harrow from $64.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Craig Hallum raised their price target on Harrow from $54.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Cantor Fitzgerald restated an “overweight” rating and set a $94.00 target price on shares of Harrow in a research report on Tuesday, November 11th. Finally, BTIG Research restated a “buy” rating and set a $63.00 price objective on shares of Harrow in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Harrow has a consensus rating of “Moderate Buy” and an average price target of $71.43.

Harrow Price Performance

The company has a debt-to-equity ratio of 5.21, a quick ratio of 2.52 and a current ratio of 2.72. The firm has a fifty day simple moving average of $45.88 and a 200 day simple moving average of $41.03. The company has a market capitalization of $1.75 billion, a PE ratio of -472.06 and a beta of 0.02.

Harrow (NASDAQ:HROW) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. Harrow had a positive return on equity of 28.71% and a negative net margin of 1.99%.The firm had revenue of $71.64 million for the quarter, compared to analyst estimates of $73.70 million. Equities analysts anticipate that Harrow, Inc. will post -0.53 EPS for the current year.

Hedge Funds Weigh In On Harrow

Institutional investors have recently bought and sold shares of the business. Teacher Retirement System of Texas increased its holdings in shares of Harrow by 4.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 8,478 shares of the company’s stock valued at $259,000 after acquiring an additional 332 shares during the period. The Manufacturers Life Insurance Company grew its stake in Harrow by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 16,547 shares of the company’s stock valued at $505,000 after purchasing an additional 341 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Harrow by 1.7% in the third quarter. Alliancebernstein L.P. now owns 29,520 shares of the company’s stock worth $1,422,000 after purchasing an additional 500 shares in the last quarter. Pale Fire Capital SE lifted its position in shares of Harrow by 6.8% during the second quarter. Pale Fire Capital SE now owns 8,683 shares of the company’s stock valued at $265,000 after buying an additional 550 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Harrow by 6.8% in the 4th quarter. SG Americas Securities LLC now owns 9,382 shares of the company’s stock valued at $460,000 after buying an additional 601 shares in the last quarter. 72.76% of the stock is owned by hedge funds and other 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.