Harrow (NASDAQ:HROW) Reaches New 1-Year Low – What’s Next?

Harrow, Inc. (NASDAQ:HROW) hit a new 52-week low on Thursday. The company traded as low as $26.67 and last traded at $26.6910, with a volume of 275,080 shares trading hands. The stock had previously closed at $28.75.

Wall Street Analyst Weigh In

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

Harrow Trading Up 3.3%

The company has a quick ratio of 2.08, a current ratio of 2.24 and a debt-to-equity ratio of 19.70. The firm’s 50 day moving average is $31.63 and its two-hundred day moving average is $37.91. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -26.89 and a beta of 0.18.

Harrow (NASDAQ:HROW) last released its quarterly earnings data 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). Harrow had a negative net margin of 13.51% and a negative return on equity of 38.00%. The company had revenue of $70.66 million for the quarter, compared to analyst estimates of $70.35 million. Equities analysts anticipate that Harrow, Inc. will post -0.02 EPS for the current year.

Insiders Place Their Bets

In related news, insider Amir Shojaei sold 11,250 shares of Harrow stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $40.00, for a total value of $450,000.00. Following the sale, the insider directly owned 11,250 shares in the company, valued at $450,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Harrow during the second quarter valued at approximately $116,373,000. Bamco Inc. NY bought a new position in Harrow in the 2nd quarter worth approximately $34,373,000. Jupiter Topco LLC bought a new position in Harrow in the 2nd quarter worth approximately $24,596,000. Rice Hall James & Associates LLC acquired a new stake in Harrow in the 2nd quarter valued at approximately $16,459,000. Finally, Dimensional Fund Advisors LP increased its position in Harrow by 56.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company’s stock valued at $20,428,000 after acquiring an additional 208,972 shares during the period. Institutional investors 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 therapies for eye care. The company’s portfolio addresses conditions and procedures involving the ocular surface, anterior segment, and retina, with products intended for use by ophthalmologists and other eye-care professionals.

Harrow’s commercial products include VEVYE, a cyclosporine ophthalmic solution for the treatment of dry eye disease, and IHEEZO, a chloroprocaine hydrochloride ophthalmic gel used for ocular surface anesthesia during ophthalmic procedures.