BTIG Research Reiterates Buy Rating for Harrow (NASDAQ:HROW)

Harrow (NASDAQ:HROW)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a research note issued on Tuesday,Benzinga reports. They currently have a $63.00 price target on the stock. BTIG Research’s price objective indicates a potential upside of 47.09% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Zacks Research upgraded Harrow from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Wall Street Zen lowered shares of Harrow from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Cantor Fitzgerald cut their price target on shares of Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. B. Riley Financial reiterated a “buy” rating and issued a $65.00 price objective (down from $74.00) on shares of Harrow in a research note on Tuesday, April 7th. Finally, Weiss Ratings downgraded shares of Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 22nd. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Harrow currently has an average rating of “Moderate Buy” and an average target price of $69.43.

Harrow Stock Performance

NASDAQ HROW opened at $42.83 on Tuesday. The company has a current ratio of 2.48, a quick ratio of 2.30 and a debt-to-equity ratio of 10.30. The business’s 50 day moving average is $38.75 and its two-hundred day moving average is $40.93. Harrow has a 12-month low of $28.54 and a 12-month high of $54.85. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -104.46 and a beta of 0.26.

Harrow (NASDAQ:HROW) last posted its quarterly 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 period in the prior year, the business earned ($0.38) earnings per share. Research analysts expect that Harrow will post 0.29 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Harrow

Several institutional investors and hedge funds have recently modified their holdings of HROW. Vanguard Group Inc. lifted its stake in Harrow by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 1,921,683 shares of the company’s stock valued at $94,162,000 after buying an additional 50,889 shares in the last quarter. Luxor Capital Group LP increased its position in Harrow by 22.0% during the first quarter. Luxor Capital Group LP now owns 1,119,400 shares of the company’s stock worth $39,470,000 after buying an additional 201,859 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Harrow by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 785,089 shares of the company’s stock worth $38,477,000 after acquiring an additional 9,445 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Harrow by 56.4% in the first quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company’s stock worth $20,428,000 after acquiring an additional 208,972 shares during the last quarter. Finally, Penn Capital Management Company LLC lifted its position in shares of Harrow by 20.5% in the fourth quarter. Penn Capital Management Company LLC now owns 392,067 shares of the company’s stock valued at $19,257,000 after acquiring an additional 66,589 shares in the last quarter. 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.