Harrow, Inc. (NASDAQ:HROW) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Harrow, Inc. (NASDAQ:HROW) have earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $69.4286.

A number of equities research analysts recently issued reports on HROW shares. Zacks Research raised shares of Harrow from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. B. Riley Financial reaffirmed a “buy” rating and set a $65.00 price target (down from $74.00) on shares of Harrow in a research note on Tuesday, April 7th. Weiss Ratings downgraded shares of Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. BTIG Research reaffirmed a “buy” rating and set a $63.00 price target on shares of Harrow in a research note on Tuesday, May 12th. Finally, Cantor Fitzgerald decreased their price target on shares of Harrow from $91.00 to $88.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th.

Harrow Price Performance

Harrow stock opened at $42.07 on Monday. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -102.61 and a beta of 0.28. The firm’s fifty day moving average is $37.05 and its 200 day moving average is $41.59. The company has a quick ratio of 2.30, a current ratio of 2.48 and a debt-to-equity ratio of 10.30. Harrow has a 52-week low of $28.54 and a 52-week high of $54.85.

Harrow (NASDAQ:HROW) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.31). The business had revenue of $44.20 million for the quarter, compared to analysts’ expectations of $52.43 million. Harrow had a negative net margin of 5.57% and a positive return on equity of 19.59%. During the same period in the previous year, the company earned ($0.38) EPS. Sell-side analysts forecast that Harrow will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Harrow

In other news, Director Adrienne L. Graves bought 1,000 shares of Harrow stock in a transaction dated Monday, May 18th. The shares were acquired at an average price of $31.07 per share, with a total value of $31,070.00. Following the completion of the purchase, the director owned 1,000 shares in the company, valued at $31,070. The trade was a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Andrew R. Boll bought 3,500 shares of Harrow stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $29.90 per share, for a total transaction of $104,650.00. Following the purchase, the chief financial officer owned 814,679 shares of the company’s stock, valued at approximately $24,358,902.10. This trade represents a 0.43% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 12.80% of the company’s stock.

Institutional Investors Weigh In On Harrow

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC raised its stake in shares of Harrow by 13.1% in the fourth quarter. Larson Financial Group LLC now owns 2,446 shares of the company’s stock valued at $120,000 after acquiring an additional 284 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of 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 acquiring an additional 341 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Harrow by 25.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,800 shares of the company’s stock valued at $88,000 after acquiring an additional 369 shares during the period. Captrust Financial Advisors raised its stake in shares of Harrow by 0.5% in the fourth quarter. Captrust Financial Advisors now owns 69,959 shares of the company’s stock valued at $3,428,000 after acquiring an additional 376 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Harrow by 1.7% in the third quarter. Alliancebernstein L.P. now owns 29,520 shares of the company’s stock valued at $1,422,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 72.76% of the company’s stock.

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.