Harrow, Inc. (NASDAQ:HROW) Receives $69.43 Consensus PT from Analysts

Harrow, Inc. (NASDAQ:HROW) has received an average rating of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $66.3750.

HROW has been the subject of several research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a research note on Monday, July 20th. Leerink Partners began coverage on Harrow in a report on Wednesday. They issued an “outperform” rating and a $45.00 target price for the company. Zacks Research raised Harrow from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Wall Street Zen upgraded Harrow from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $63.00 price target on shares of Harrow in a research report on Tuesday, August 11th.

Harrow Trading Down 5.7%

NASDAQ HROW opened at $34.48 on Friday. The firm has a 50 day simple moving average of $40.31 and a 200-day simple moving average of $38.77. The company has a debt-to-equity ratio of 19.70, a quick ratio of 2.08 and a current ratio of 2.24. Harrow has a one year low of $28.54 and a one year high of $54.85. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -34.48 and a beta of 0.24.

Harrow (NASDAQ:HROW) last announced its earnings results on Monday, August 10th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.28). The business had revenue of $70.66 million for the quarter, compared to analysts’ expectations of $70.35 million. Harrow had a negative return on equity of 38.00% and a negative net margin of 13.51%.

Insider Activity at Harrow

In related news, insider Amir Shojaei sold 11,250 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $40.00, for a total transaction of $450,000.00. Following the sale, the insider directly owned 11,250 shares in the company, valued at approximately $450,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Penn Capital Management Company LLC raised its holdings in shares of Harrow by 20.5% in the 4th quarter. Penn Capital Management Company LLC now owns 392,067 shares of the company’s stock valued at $19,257,000 after purchasing an additional 66,589 shares in the last quarter. Luxor Capital Group LP grew its stake in shares of 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 purchasing an additional 201,859 shares in the last quarter. Dimensional Fund Advisors LP grew 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 worth $20,428,000 after purchasing an additional 208,972 shares in the last quarter. Rice Hall James & Associates LLC grew its stake in shares of Harrow by 8.5% during the fourth quarter. Rice Hall James & Associates LLC now owns 361,998 shares of the company’s stock worth $17,738,000 after purchasing an additional 28,303 shares in the last quarter. Finally, Blackhawk Capital Partners LLC increased its holdings in Harrow by 27.9% in the first quarter. Blackhawk Capital Partners LLC now owns 172,332 shares of the company’s stock valued at $6,076,000 after buying an additional 37,574 shares during the last quarter. Hedge funds and other institutional investors own 72.76% of the company’s stock.

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.