Harrow (NASDAQ:HROW) Posts Quarterly Earnings Results

Harrow (NASDAQ:HROW) announced its quarterly earnings data on Monday. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06, FiscalAI reports. Harrow had a negative net margin of 13.51% and a negative return on equity of 38.00%. The firm had revenue of $99.30 million during the quarter, compared to analyst estimates of $98.59 million.

Harrow Stock Up 2.2%

Shares of HROW traded up $0.58 on Monday, reaching $27.47. The stock had a trading volume of 1,162,138 shares, compared to its average volume of 691,479. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -27.47 and a beta of 0.18. The company has a debt-to-equity ratio of 19.70, a quick ratio of 2.08 and a current ratio of 2.24. The company has a 50-day simple moving average of $31.43 and a 200-day simple moving average of $37.82. Harrow has a 12-month low of $25.76 and a 12-month high of $54.85.

Insider Buying and Selling at Harrow

In related news, insider Amir Shojaei sold 11,250 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $40.00, for a total value of $450,000.00. Following the sale, the insider directly owned 11,250 shares of the company’s stock, valued at $450,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

HROW has been the subject of several analyst reports. BTIG Research restated a “buy” rating and set a $63.00 price target on shares of Harrow in a research report on Wednesday, October 7th. Wall Street Zen upgraded Harrow from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Zacks Research lowered Harrow from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Harrow in a research note on Friday, October 16th. Finally, Leerink Partners initiated coverage on Harrow in a research report on Wednesday, September 9th. They issued an “outperform” rating and a $45.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Harrow has a consensus rating of “Moderate Buy” and a consensus price target of $66.17.

About Harrow

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.