Lake Street Capital Increases Harrow Health (NASDAQ:HROW) Price Target to $24.00

Harrow Health (NASDAQ:HROWGet Rating) had its price target raised by Lake Street Capital from $17.00 to $24.00 in a research note released on Tuesday morning, The Fly reports.

Separately, B. Riley boosted their price target on shares of Harrow Health from $17.00 to $22.00 in a report on Thursday, January 5th.

Harrow Health Stock Performance

Shares of HROW opened at $15.52 on Tuesday. Harrow Health has a 1 year low of $5.40 and a 1 year high of $15.59. The company has a market cap of $420.19 million, a price-to-earnings ratio of -18.70 and a beta of 0.24. The company has a debt-to-equity ratio of 83.80, a quick ratio of 3.20 and a current ratio of 3.49. The firm has a fifty day moving average of $12.85 and a 200-day moving average of $10.66.

Harrow Health (NASDAQ:HROWGet Rating) last announced its quarterly earnings results on Monday, November 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.08). Harrow Health had a negative net margin of 25.50% and a negative return on equity of 11.57%. The firm had revenue of $22.82 million for the quarter, compared to analyst estimates of $23.39 million. As a group, equities analysts anticipate that Harrow Health will post -0.66 earnings per share for the current year.

Insider Activity at Harrow Health

In related news, CFO Andrew R. Boll acquired 2,500 shares of the business’s stock in a transaction that occurred on Thursday, December 22nd. The shares were acquired at an average cost of $13.54 per share, for a total transaction of $33,850.00. Following the completion of the purchase, the chief financial officer now directly owns 255,063 shares in the company, valued at $3,453,553.02. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Harrow Health news, CEO Mark L. Baum purchased 25,000 shares of the company’s stock in a transaction on Thursday, December 22nd. The shares were purchased at an average cost of $13.39 per share, for a total transaction of $334,750.00. Following the completion of the transaction, the chief executive officer now owns 1,432,141 shares in the company, valued at $19,176,367.99. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew R. Boll purchased 2,500 shares of the company’s stock in a transaction on Thursday, December 22nd. The stock was acquired at an average price of $13.54 per share, for a total transaction of $33,850.00. Following the completion of the transaction, the chief financial officer now owns 255,063 shares of the company’s stock, valued at approximately $3,453,553.02. The disclosure for this purchase can be found here. Insiders have purchased a total of 29,360 shares of company stock worth $393,561 over the last ninety days. 14.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Harrow Health

Several hedge funds and other institutional investors have recently bought and sold shares of HROW. Tower Research Capital LLC TRC raised its position in Harrow Health by 530.7% in the third quarter. Tower Research Capital LLC TRC now owns 2,756 shares of the company’s stock worth $33,000 after acquiring an additional 2,319 shares in the last quarter. Barclays PLC raised its position in Harrow Health by 44.3% in the third quarter. Barclays PLC now owns 3,560 shares of the company’s stock worth $43,000 after acquiring an additional 1,093 shares in the last quarter. Captrust Financial Advisors bought a new stake in Harrow Health in the second quarter worth about $51,000. Envestnet Asset Management Inc. bought a new stake in Harrow Health in the first quarter worth about $70,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Harrow Health in the second quarter worth about $78,000. 56.47% of the stock is currently owned by institutional investors.

Harrow Health Company Profile

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Harrow Health, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company also holds equity interests in Surface Ophthalmics, Inc, a clinical-stage pharmaceutical company that focuses on the 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.

Further Reading

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