Harrow (NASDAQ:HROW) Director Acquires $31,070.00 in Stock

Harrow, Inc. (NASDAQ:HROW) Director Adrienne Graves bought 1,000 shares of the business’s stock in a transaction on Monday, May 18th. The shares were acquired at an average cost of $31.07 per share, for a total transaction of $31,070.00. Following the purchase, the director directly owned 1,000 shares in the company, valued at $31,070. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Harrow Stock Up 6.8%

Shares of Harrow stock opened at $32.96 on Friday. The business’s fifty day moving average price is $36.15 and its two-hundred day moving average price is $41.98. 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 company has a market capitalization of $1.23 billion, a P/E ratio of -80.39 and a beta of 0.34. Harrow, Inc. has a 1-year low of $25.21 and a 1-year high of $54.85.

Harrow (NASDAQ:HROW) last announced its 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). The business had revenue of $44.20 million for the quarter, compared to the consensus estimate of $52.43 million. Harrow had a negative net margin of 5.57% and a positive return on equity of 19.59%. During the same period in the previous year, the firm earned ($0.38) EPS. As a group, research analysts forecast that Harrow, Inc. will post 0.29 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on HROW shares. Zacks Research raised Harrow from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. BTIG Research reissued a “buy” rating and issued a $63.00 price objective on shares of Harrow in a research note on Tuesday, May 12th. Wall Street Zen downgraded Harrow from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. Finally, William Blair reissued an “outperform” rating on shares of Harrow in a research note on Tuesday, March 3rd. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Harrow presently has an average rating of “Moderate Buy” and a consensus target price of $69.43.

Institutional Trading of Harrow

A number of hedge funds and other institutional investors have recently modified their holdings of HROW. Royal Bank of Canada raised its stake in shares of Harrow by 102.5% in the 1st quarter. Royal Bank of Canada now owns 9,813 shares of the company’s stock worth $261,000 after buying an additional 4,967 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Harrow by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,146 shares of the company’s stock worth $483,000 after acquiring an additional 790 shares during the last quarter. Strs Ohio acquired a new position in shares of Harrow in the 1st quarter worth $149,000. Legal & General Group Plc grew its holdings in shares of Harrow by 12.4% in the 2nd quarter. Legal & General Group Plc now owns 30,753 shares of the company’s stock worth $939,000 after acquiring an additional 3,384 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Harrow by 9.3% in the 2nd quarter. Rhumbline Advisers now owns 46,969 shares of the company’s stock worth $1,434,000 after acquiring an additional 3,994 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.