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

Harrow (NASDAQ:HROW)‘s stock had its “buy” rating reissued by BTIG Research in a report released on Tuesday,Benzinga reports. They presently have a $63.00 target price on the stock. BTIG Research’s target price would suggest a potential upside of 117.02% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Harrow in a report on Thursday, March 19th. Nomura downgraded Harrow to a “neutral” rating in a report on Wednesday, March 18th. Zacks Research raised Harrow from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Finally, B. Riley Financial reaffirmed a “buy” rating and set a $65.00 price target (down from $74.00) on shares of Harrow in a report on Tuesday, April 7th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.86.

Harrow Price Performance

NASDAQ HROW opened at $29.03 on Tuesday. The business has a 50 day simple moving average of $37.30 and a 200 day simple moving average of $42.33. Harrow has a 52-week low of $24.62 and a 52-week high of $54.85. The company has a debt-to-equity ratio of 4.67, a quick ratio of 2.06 and a current ratio of 2.20. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -70.80 and a beta of 0.34.

Harrow (NASDAQ:HROW) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.31). Harrow had a positive return on equity of 17.50% and a negative net margin of 5.57%.The firm had revenue of $44.20 million for the quarter, compared to analyst estimates of $52.43 million. During the same period last year, the company earned ($0.38) EPS. Analysts anticipate that Harrow will post 0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HROW. Larson Financial Group LLC grew its holdings in shares of Harrow by 13.1% during the fourth quarter. Larson Financial Group LLC now owns 2,446 shares of the company’s stock worth $120,000 after purchasing an additional 284 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Harrow by 2.1% during the second quarter. The Manufacturers Life Insurance Company now owns 16,547 shares of the company’s stock worth $505,000 after purchasing an additional 341 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Harrow by 25.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,800 shares of the company’s stock worth $88,000 after purchasing an additional 369 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Harrow by 0.5% during the fourth quarter. Captrust Financial Advisors now owns 69,959 shares of the company’s stock worth $3,428,000 after purchasing an additional 376 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Harrow by 1.7% during the third quarter. Alliancebernstein L.P. now owns 29,520 shares of the company’s stock worth $1,422,000 after purchasing an additional 500 shares during the last quarter. 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.