Harrow (NASDAQ:HROW) Shares Gap Up – What’s Next?

Harrow, Inc. (NASDAQ:HROW)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $31.37, but opened at $32.57. Harrow shares last traded at $34.97, with a volume of 84,110 shares changing hands.

Analysts Set New Price Targets

HROW has been the topic of several recent analyst reports. Cantor Fitzgerald started coverage on Harrow in a research report on Friday. They set an “overweight” rating and a $76.00 target price on the stock. William Blair began coverage on shares of Harrow in a research note on Tuesday, June 10th. They set an “outperform” rating for the company. BTIG Research assumed coverage on shares of Harrow in a research report on Thursday, June 12th. They issued a “buy” rating and a $62.00 target price on the stock. HC Wainwright boosted their target price on shares of Harrow from $57.00 to $60.00 and gave the company a “buy” rating in a report on Monday, May 12th. Finally, B. Riley cut their price target on shares of Harrow from $69.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Harrow presently has a consensus rating of “Buy” and an average target price of $63.83.

Harrow Trading Up 11.3%

The company has a market capitalization of $1.28 billion, a PE ratio of -62.37 and a beta of 0.41. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.85 and a current ratio of 0.91. The business has a fifty day moving average price of $29.03 and a 200 day moving average price of $28.79.

Harrow (NASDAQ:HROW) last posted its earnings results on Thursday, May 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.40). The business had revenue of $47.83 million for the quarter, compared to analyst estimates of $57.00 million. Harrow had a negative return on equity of 25.01% and a negative net margin of 10.19%. Analysts expect that Harrow, Inc. will post -0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Harrow

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Voya Investment Management LLC increased its holdings in Harrow by 4,035.5% in the 1st quarter. Voya Investment Management LLC now owns 381,461 shares of the company’s stock valued at $10,147,000 after purchasing an additional 372,237 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Harrow by 7.2% in the first quarter. Rhumbline Advisers now owns 42,975 shares of the company’s stock worth $1,143,000 after buying an additional 2,879 shares during the period. Strs Ohio acquired a new stake in shares of Harrow in the first quarter valued at about $149,000. Dynamic Technology Lab Private Ltd grew its stake in shares of Harrow by 34.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 16,908 shares of the company’s stock valued at $450,000 after buying an additional 4,358 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Harrow by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,146 shares of the company’s stock valued at $483,000 after buying an additional 790 shares during the period. Institutional investors and hedge funds own 72.76% of the company’s stock.

Harrow Company Profile

Harrow, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company was formerly known as Imprimis Pharmaceuticals, Inc and changed its name to Harrow Health, Inc in December 2018. Harrow Health, Inc was incorporated in 2006 and is headquartered in Nashville, Tennessee.