Harrow Health (NASDAQ:HROW) Downgraded by TheStreet

Harrow Health (NASDAQ:HROWGet Rating) was downgraded by equities research analysts at TheStreet from a “c-” rating to a “d+” rating in a research note issued to investors on Thursday, TheStreetRatingsTable reports.

HROW has been the subject of several other reports. Zacks Investment Research raised Harrow Health from a “strong sell” rating to a “hold” rating in a research note on Friday, May 6th. B. Riley boosted their price objective on Harrow Health from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Harrow Health presently has an average rating of “Buy” and an average target price of $14.75.

NASDAQ HROW opened at $5.90 on Thursday. The company has a debt-to-equity ratio of 7.38, a quick ratio of 5.81 and a current ratio of 6.79. The firm has a market cap of $159.48 million, a price-to-earnings ratio of -7.56 and a beta of 0.91. The firm has a 50 day simple moving average of $6.73 and a 200-day simple moving average of $8.09. Harrow Health has a one year low of $5.40 and a one year high of $12.99.

Harrow Health (NASDAQ:HROWGet Rating) last released its earnings results on Thursday, March 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.09). The business had revenue of $20.19 million for the quarter, compared to analyst estimates of $21.35 million. Harrow Health had a negative return on equity of 5.90% and a negative net margin of 26.10%. During the same quarter last year, the company earned $0.07 earnings per share. Equities analysts predict that Harrow Health will post -0.05 EPS for the current fiscal year.

In other Harrow Health news, major shareholder Opaleye Management Inc. acquired 28,557 shares of the company’s stock in a transaction dated Tuesday, April 12th. The shares were acquired at an average price of $6.75 per share, for a total transaction of $192,759.75. Following the acquisition, the insider now owns 3,165,000 shares in the company, valued at approximately $21,363,750. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 12.43% of the company’s stock.

Several institutional investors have recently modified their holdings of HROW. Barclays PLC lifted its holdings in shares of Harrow Health by 119.8% in the 3rd quarter. Barclays PLC now owns 5,412 shares of the company’s stock valued at $49,000 after purchasing an additional 2,950 shares during the last quarter. Bank of America Corp DE lifted its stake in Harrow Health by 466.4% in the fourth quarter. Bank of America Corp DE now owns 4,463 shares of the company’s stock valued at $39,000 after buying an additional 3,675 shares during the last quarter. HighVista Strategies LLC boosted its holdings in shares of Harrow Health by 38.0% in the third quarter. HighVista Strategies LLC now owns 14,211 shares of the company’s stock valued at $129,000 after acquiring an additional 3,911 shares during the period. State Street Corp grew its position in shares of Harrow Health by 5.5% during the first quarter. State Street Corp now owns 86,813 shares of the company’s stock worth $592,000 after acquiring an additional 4,521 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Harrow Health by 14.1% in the 4th quarter. First Trust Advisors LP now owns 39,277 shares of the company’s stock valued at $339,000 after acquiring an additional 4,865 shares during the period. Institutional investors and hedge funds own 44.50% of the company’s stock.

Harrow Health Company Profile (Get Rating)

Harrow Health, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business; and DEXYCU for the treatment of post-operative inflammation. The company also holds equity interests in Surface Ophthalmics, Inc, a clinical-stage pharmaceutical company that focuses on development and commercialization of therapeutics for ocular surface diseases; Melt Pharmaceuticals, Inc, a clinical-stage pharmaceutical company that focused on the development and commercialization of proprietary non-intravenous, sedation, and anesthesia therapeutics for human medical procedures in hospital, outpatient, and in-office settings; and Eton Pharmaceuticals, Inc, a commercial-stage pharmaceutical company that engages in developing and commercializing drug products.

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