Harrow (NASDAQ:HROW) Stock Keeps “Buy” Rating at BTIG Research

Harrow (NASDAQ:HROW)‘s stock had its “buy” rating reiterated by stock analysts at BTIG Research in a note issued to investors on Wednesday, Benzinga reports. They currently have a $63.00 price target on the stock. BTIG Research’s price target would suggest a potential upside of 107.58% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a research report on Monday, July 20th. Wall Street Zen raised shares of Harrow from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Zacks Research raised shares of Harrow from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 9th. Finally, Leerink Partners initiated coverage on shares of Harrow in a research report on Wednesday, September 9th. They set an “outperform” rating and a $45.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Harrow presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.17.

Harrow Trading Down 0.8%

Shares of HROW stock opened at $30.35 on Wednesday. The firm has a market cap of $1.14 billion, a P/E ratio of -30.35 and a beta of 0.19. Harrow has a 1-year low of $28.54 and a 1-year high of $54.85. 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’s 50-day simple moving average is $36.81 and its 200-day simple moving average is $37.63.

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

Insider Transactions at Harrow

In other Harrow news, insider Amir Shojaei sold 11,250 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were 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 of the company’s stock, valued at $450,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.80% of the stock is owned by company insiders.

Institutional Trading of Harrow

Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Harrow during the second quarter worth approximately $116,373,000. Bamco Inc. NY acquired a new stake in shares of Harrow during the second quarter worth approximately $34,373,000. Jupiter Topco LLC acquired a new stake in shares of Harrow during the second quarter worth approximately $24,596,000. Rice Hall James & Associates LLC acquired a new stake in shares of Harrow during the second quarter worth approximately $16,459,000. Finally, Dimensional Fund Advisors LP grew its position 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 worth $20,428,000 after buying an additional 208,972 shares in the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

Harrow Company Profile

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.