Harrow, Inc. (NASDAQ:HROW) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Harrow, Inc. (NASDAQ:HROW) have been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $69.4286.

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a report on Monday, July 20th. Wall Street Zen lowered Harrow from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Cantor Fitzgerald dropped their price target on Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Finally, BTIG Research restated a “buy” rating and issued a $63.00 price target on shares of Harrow in a research note on Tuesday, July 21st.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Harrow during the fourth quarter worth $26,000. KBC Group NV acquired a new position in Harrow in the first quarter valued at $31,000. Raymond James Financial Inc. acquired a new position in Harrow in the second quarter valued at $48,000. SBI Securities Co. Ltd. boosted its position in Harrow by 393.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company’s stock valued at $52,000 after acquiring an additional 846 shares during the last quarter. Finally, State of Wyoming bought a new stake in Harrow during the second quarter valued at $72,000. 72.76% of the stock is owned by institutional investors and hedge funds.

Harrow Stock Up 0.6%

NASDAQ:HROW opened at $40.70 on Tuesday. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -99.27 and a beta of 0.28. Harrow has a twelve month low of $28.54 and a twelve month high of $54.85. The stock’s 50 day moving average price is $40.47 and its two-hundred day moving average price is $40.02. The company has a quick ratio of 2.30, a current ratio of 2.48 and a debt-to-equity ratio of 10.30.

Harrow (NASDAQ:HROW) last issued its earnings results on Monday, August 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.16). The firm had revenue of $70.66 million during the quarter, compared to analyst estimates of $70.35 million. Harrow had a negative net margin of 5.57% and a positive return on equity of 19.59%. Equities research analysts expect that Harrow will post 0.29 earnings per share for the current fiscal year.

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.