Harrow (NASDAQ:HROW) Releases Quarterly Earnings Results, Misses Estimates By $0.39 EPS

Harrow (NASDAQ:HROW) released its quarterly earnings data on Monday. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.39), FiscalAI reports. The firm had revenue of $44.20 million for the quarter, compared to analyst estimates of $52.43 million. Harrow had a positive return on equity of 36.51% and a negative net margin of 1.89%.

Harrow Price Performance

NASDAQ:HROW traded down $0.19 on Monday, hitting $38.04. The company had a trading volume of 1,545,839 shares, compared to its average volume of 678,671. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -223.75 and a beta of 0.34. The company has a current ratio of 2.20, a quick ratio of 2.06 and a debt-to-equity ratio of 4.67. The firm has a 50 day moving average of $38.43 and a two-hundred day moving average of $42.44. Harrow has a 52 week low of $24.50 and a 52 week high of $54.85.

Hedge Funds Weigh In On Harrow

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. bought a new position in Harrow in the 4th quarter valued at approximately $26,000. Raymond James Financial Inc. bought a new position in Harrow in the 2nd quarter valued at approximately $48,000. Larson Financial Group LLC lifted its stake in Harrow by 848.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,162 shares of the company’s stock valued at $104,000 after purchasing an additional 1,934 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Harrow by 345.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,373 shares of the company’s stock valued at $103,000 after purchasing an additional 2,615 shares during the last quarter. Finally, Strs Ohio bought a new position in Harrow in the 1st quarter valued at approximately $149,000. Institutional investors own 72.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Nomura lowered shares of Harrow to a “neutral” rating in a research note on Wednesday, March 18th. Weiss Ratings lowered shares of Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. Cantor Fitzgerald cut their price objective on shares of Harrow from $94.00 to $91.00 and set an “overweight” rating for the company in a report on Wednesday, March 4th. HC Wainwright reissued a “buy” rating and issued a $70.00 price objective on shares of Harrow in a report on Thursday, March 19th. Finally, B. Riley Financial reissued a “buy” rating and issued a $65.00 price objective (down from $74.00) on shares of Harrow in a report on Tuesday, April 7th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Harrow presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.86.

About Harrow

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.