Harrow, Inc. (NASDAQ:HROW) Stock Rated “Moderate Buy” by Wall Street Brokerages

Harrow, Inc. (NASDAQ:HROW) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $66.17.

Several research analysts recently issued reports on the company. BTIG Research reaffirmed a “buy” rating and set a $63.00 target price on shares of Harrow in a research report on Wednesday, October 7th. Leerink Partners began coverage on Harrow in a research note on Wednesday, September 9th. They set an “outperform” rating and a $45.00 price target on the stock. Zacks Research upgraded shares of Harrow from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Harrow in a research report on Friday, October 16th. Finally, Wall Street Zen upgraded shares of Harrow from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th.

Insider Activity

In other news, insider Amir Shojaei sold 11,250 shares of Harrow stock in a transaction 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 completion of the sale, the insider directly owned 11,250 shares in the company, valued at approximately $450,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 12.80% of the company’s stock.

Hedge Funds Weigh In On Harrow

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Harrow in the second quarter worth about $116,373,000. Bamco Inc. NY acquired a new stake in shares of Harrow during the second quarter worth about $34,373,000. Jupiter Topco LLC purchased a new stake in Harrow in the second quarter valued at approximately $24,596,000. Rice Hall James & Associates LLC purchased a new stake in Harrow in the second quarter valued at approximately $16,459,000. Finally, Dimensional Fund Advisors LP boosted its position in Harrow by 56.4% in the first quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company’s stock valued at $20,428,000 after buying an additional 208,972 shares during the last quarter. 72.76% of the stock is owned by institutional investors and hedge funds.

Harrow Stock Performance

Shares of HROW opened at $28.44 on Friday. Harrow has a 12 month low of $26.96 and a 12 month high of $54.85. The stock has a fifty day moving average price of $33.97 and a 200-day moving average price of $37.05. The company has a current ratio of 2.24, a quick ratio of 2.08 and a debt-to-equity ratio of 19.70. The firm has a market cap of $1.07 billion, a PE ratio of -28.44 and a beta of 0.19.

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

Harrow Company Profile

Harrow, Inc is an ophthalmic pharmaceutical company focused on developing, acquiring, and commercializing prescription therapies for eye care. The company’s portfolio addresses conditions and procedures involving the ocular surface, anterior segment, and retina, with products intended for use by ophthalmologists and other eye-care professionals.

Harrow’s commercial products include VEVYE, a cyclosporine ophthalmic solution for the treatment of dry eye disease, and IHEEZO, a chloroprocaine hydrochloride ophthalmic gel used for ocular surface anesthesia during ophthalmic procedures.