Harrow (NASDAQ:HROW) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Harrow (NASDAQ:HROW) from a hold rating to a strong sell rating in a research note released on Tuesday morning,Zacks.com reports.

A number of other brokerages also recently issued reports on HROW. Wall Street Zen downgraded Harrow from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Cantor Fitzgerald reduced their target price on Harrow from $91.00 to $88.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a research report on Monday, July 20th. Finally, BTIG Research restated a “buy” rating and set a $63.00 price target on shares of Harrow in a report on Tuesday. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Harrow presently has an average rating of “Moderate Buy” and a consensus target price of $69.43.

Harrow Stock Performance

Shares of Harrow stock opened at $39.36 on Tuesday. The company has a quick ratio of 2.30, a current ratio of 2.48 and a debt-to-equity ratio of 10.30. Harrow has a twelve month low of $28.54 and a twelve month high of $54.85. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -39.36 and a beta of 0.28. The company’s fifty day moving average is $40.72 and its 200 day moving average is $39.92.

Harrow (NASDAQ:HROW) last announced its earnings results on Monday, August 10th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.28). The company had revenue of $70.66 million for the quarter, compared to the consensus estimate of $69.84 million. Harrow had a negative return on equity of 31.83% and a negative net margin of 13.51%. Sell-side analysts forecast that Harrow will post 0.29 EPS for the current year.

Insider Buying and Selling at Harrow

In other Harrow news, Director Adrienne L. Graves acquired 1,000 shares of the company’s 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 purchase, the director directly owned 1,000 shares of the company’s stock, valued at $31,070. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.80% of the company’s stock.

Institutional Investors Weigh In On Harrow

A number of hedge funds have recently added to or reduced their stakes in HROW. Larson Financial Group LLC raised its stake in shares of Harrow by 13.1% during the 4th quarter. Larson Financial Group LLC now owns 2,446 shares of the company’s stock valued at $120,000 after purchasing an additional 284 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Harrow by 2.1% in the 2nd 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 period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Harrow by 25.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,800 shares of the company’s stock valued at $88,000 after buying an additional 369 shares in the last quarter. Captrust Financial Advisors grew its holdings in Harrow by 0.5% during the 4th quarter. Captrust Financial Advisors now owns 69,959 shares of the company’s stock valued at $3,428,000 after buying an additional 376 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Harrow by 1.7% during the third quarter. Alliancebernstein L.P. now owns 29,520 shares of the company’s stock valued at $1,422,000 after buying an additional 500 shares during the period. 72.76% of the stock is currently owned by institutional investors.

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.