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

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

Several equities analysts have commented on HROW shares. B. Riley Financial reaffirmed a “buy” rating and issued a $65.00 price objective (down from $74.00) on shares of Harrow in a research report on Tuesday, April 7th. Weiss Ratings lowered shares of Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. Wall Street Zen cut shares of Harrow from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Cantor Fitzgerald reduced 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. Finally, Zacks Research upgraded shares of Harrow from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd.

Insider Transactions at Harrow

In related 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 cost of $31.07 per share, with a total value of $31,070.00. Following the completion of the transaction, the director owned 1,000 shares in the company, valued at $31,070. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew R. Boll acquired 3,500 shares of the company’s stock in a transaction that occurred on 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 $24,358,902.10. This represents a 0.43% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 12.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Harrow

Several large investors have recently modified their holdings of HROW. Dimensional Fund Advisors LP boosted its stake 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 valued at $20,428,000 after purchasing an additional 208,972 shares in the last quarter. Luxor Capital Group LP lifted its stake in shares of Harrow by 22.0% during the 1st quarter. Luxor Capital Group LP now owns 1,119,400 shares of the company’s stock worth $39,470,000 after purchasing an additional 201,859 shares during the last quarter. Bank of America Corp DE boosted its position in Harrow by 266.8% during the second quarter. Bank of America Corp DE now owns 213,448 shares of the company’s stock valued at $6,519,000 after purchasing an additional 155,258 shares in the last quarter. Invesco Ltd. boosted its position in Harrow by 967.6% during the second quarter. Invesco Ltd. now owns 150,948 shares of the company’s stock valued at $4,610,000 after purchasing an additional 136,809 shares in the last quarter. Finally, UBS Group AG grew its stake in Harrow by 82.0% in the fourth quarter. UBS Group AG now owns 222,362 shares of the company’s stock valued at $10,896,000 after purchasing an additional 100,160 shares during the last quarter. Institutional investors own 72.76% of the company’s stock.

Harrow Stock Down 1.7%

Shares of NASDAQ:HROW opened at $43.71 on Friday. Harrow has a 1 year low of $28.54 and a 1 year high of $54.85. The business has a 50 day simple moving average of $38.49 and a two-hundred day simple moving average of $40.97. The firm has a market capitalization of $1.63 billion, a PE ratio of -106.61 and a beta of 0.26. The company has a debt-to-equity ratio of 10.30, a current ratio of 2.48 and a quick ratio of 2.30.

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

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.