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

Shares of Harrow, Inc. (NASDAQ:HROW) have been given a consensus rating of “Moderate Buy” by the eleven analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $69.4286.

Several equities analysts have recently issued reports on HROW shares. Weiss Ratings cut Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 22nd. Nomura cut Harrow to a “neutral” rating in a research report on Wednesday, March 18th. Zacks Research raised Harrow from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Wall Street Zen lowered Harrow from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, BTIG Research reissued a “buy” rating and set a $63.00 price objective on shares of Harrow in a research note on Tuesday, May 12th.

Insider Buying and Selling at Harrow

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HROW. Royal Bank of Canada raised its position in Harrow by 102.5% during the first quarter. Royal Bank of Canada now owns 9,813 shares of the company’s stock valued at $261,000 after buying an additional 4,967 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Harrow by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,146 shares of the company’s stock valued at $483,000 after buying an additional 790 shares during the period. Strs Ohio acquired a new position in Harrow during the first quarter valued at $149,000. Legal & General Group Plc raised its position in Harrow by 12.4% during the second quarter. Legal & General Group Plc now owns 30,753 shares of the company’s stock valued at $939,000 after buying an additional 3,384 shares during the period. Finally, Rhumbline Advisers raised its position in Harrow by 9.3% during the second quarter. Rhumbline Advisers now owns 46,969 shares of the company’s stock valued at $1,434,000 after buying an additional 3,994 shares during the period. 72.76% of the stock is owned by institutional investors and hedge funds.

Harrow Price Performance

HROW opened at $42.87 on Monday. Harrow has a 12 month low of $28.54 and a 12 month high of $54.85. The company has a debt-to-equity ratio of 10.30, a current ratio of 2.48 and a quick ratio of 2.30. The stock has a market cap of $1.60 billion, a P/E ratio of -104.56 and a beta of 0.28. The stock’s 50 day moving average price is $36.56 and its 200 day moving average price is $41.64.

Harrow (NASDAQ:HROW) last posted its earnings results on Monday, May 11th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.31). Harrow had a negative net margin of 5.57% and a positive return on equity of 19.59%. The business had revenue of $44.20 million during the quarter, compared to analyst estimates of $52.43 million. During the same quarter in the prior year, the business earned ($0.38) earnings per share. As a group, research analysts predict that Harrow will post 0.29 earnings per share for the current year.

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.