Harrow, Inc. (NASDAQ:HROW) Given Average Recommendation of “Moderate Buy” by Analysts

Harrow, Inc. (NASDAQ:HROW) has earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $69.4286.

HROW has been the topic of a number of research reports. Cantor Fitzgerald dropped their price target on Harrow from $91.00 to $88.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of Harrow in a research report on Thursday, March 19th. B. Riley Financial restated a “buy” rating and issued a $65.00 target price (down from $74.00) on shares of Harrow in a research report on Tuesday, April 7th. Nomura cut Harrow to a “neutral” rating in a research report on Wednesday, March 18th. Finally, William Blair restated an “outperform” rating on shares of Harrow in a research report on Tuesday, March 3rd.

Harrow Stock Up 1.4%

Shares of Harrow stock opened at $33.32 on Thursday. The company has a current ratio of 2.48, a quick ratio of 2.30 and a debt-to-equity ratio of 10.30. The business’s 50 day simple moving average is $36.00 and its 200-day simple moving average is $41.85. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -81.27 and a beta of 0.28. Harrow has a twelve month low of $27.75 and a twelve month high of $54.85.

Harrow (NASDAQ:HROW) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.31). The company had revenue of $44.20 million for the quarter, compared to analyst estimates of $52.43 million. Harrow had a positive return on equity of 19.59% and a negative net margin of 5.57%.During the same quarter in the previous year, the company posted ($0.38) earnings per share. Equities research analysts forecast that Harrow will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Andrew R. Boll purchased 3,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $29.90 per share, with a total value of $104,650.00. Following the purchase, the chief financial officer owned 814,679 shares in the company, valued at $24,358,902.10. This trade represents a 0.43% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Adrienne L. Graves purchased 1,000 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were purchased at an average cost of $31.07 per share, with a total value of $31,070.00. Following the completion of the purchase, the director owned 1,000 shares in the company, valued at $31,070. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 12.80% of the company’s stock.

Hedge Funds Weigh In On Harrow

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HROW. Penn Capital Management Company LLC bought a new position in Harrow during the 3rd quarter valued at $15,717,000. Luxor Capital Group LP bought a new position in Harrow during the 3rd quarter valued at $14,807,000. Dimensional Fund Advisors LP boosted its stake in Harrow by 56.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company’s stock valued at $20,428,000 after purchasing an additional 208,972 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Harrow by 1,944.7% during the 3rd quarter. New York State Common Retirement Fund now owns 213,789 shares of the company’s stock valued at $10,300,000 after purchasing an additional 203,333 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Harrow by 266.8% during the 2nd quarter. Bank of America Corp DE now owns 213,448 shares of the company’s stock valued at $6,519,000 after purchasing an additional 155,258 shares in the last quarter. 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.