Harrow (NASDAQ:HROW) Downgraded by Zacks Research to “Hold”

Harrow (NASDAQ:HROW) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts also recently commented on HROW. HC Wainwright boosted their target price on shares of Harrow from $64.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a research report on Thursday, January 22nd. LADENBURG THALM/SH SH raised their price objective on shares of Harrow from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $94.00 target price on shares of Harrow in a research note on Tuesday, November 11th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.43.

Harrow Trading Up 5.1%

HROW stock opened at $47.19 on Monday. Harrow has a 1-year low of $20.85 and a 1-year high of $54.85. The company has a current ratio of 2.72, a quick ratio of 2.52 and a debt-to-equity ratio of 5.21. The business’s 50 day moving average is $46.84 and its 200-day moving average is $41.76. The firm has a market cap of $1.75 billion, a P/E ratio of -471.85 and a beta of 0.07.

Harrow (NASDAQ:HROW) last posted its earnings results on Monday, November 10th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. The business had revenue of $71.64 million during the quarter, compared to the consensus estimate of $73.70 million. Harrow had a positive return on equity of 28.71% and a negative net margin of 1.99%. Equities analysts anticipate that Harrow will post -0.53 earnings per share for the current fiscal year.

Institutional Trading of Harrow

Several hedge funds have recently modified their holdings of HROW. Vanguard Group Inc. boosted its position in shares of Harrow by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 1,921,683 shares of the company’s stock worth $94,162,000 after purchasing an additional 50,889 shares during the last quarter. Geode Capital Management LLC lifted its stake in Harrow by 4.7% in the second quarter. Geode Capital Management LLC now owns 810,803 shares of the company’s stock valued at $24,765,000 after buying an additional 36,724 shares during the period. Marshall Wace LLP boosted its holdings in Harrow by 31.5% during the second quarter. Marshall Wace LLP now owns 564,876 shares of the company’s stock worth $17,251,000 after buying an additional 135,202 shares during the last quarter. Penn Capital Management Company LLC bought a new position in Harrow during the third quarter worth about $15,717,000. Finally, Luxor Capital Group LP acquired a new position in shares of Harrow during the 3rd quarter worth about $14,807,000. 72.76% of the stock is owned by institutional investors.

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.