Harrow (NASDAQ:HROW) Trading Up 7.1% on Analyst Upgrade

Harrow, Inc. (NASDAQ:HROW)’s share price was up 7.1% on Tuesday after B. Riley raised their price target on the stock from $65.00 to $70.00. B. Riley currently has a buy rating on the stock. Harrow traded as high as $50.05 and last traded at $49.38. Approximately 182,400 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 490,351 shares. The stock had previously closed at $46.09.

Other research analysts have also issued reports about the stock. William Blair started coverage on shares of Harrow in a research note on Tuesday, June 10th. They issued an “outperform” rating on the stock. BTIG Research raised their target price on shares of Harrow from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 14th. HC Wainwright raised their target price on shares of Harrow from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. Cantor Fitzgerald began coverage on shares of Harrow in a research note on Friday, July 11th. They issued an “overweight” rating and a $76.00 target price on the stock. Finally, Zacks Research lowered shares of Harrow from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.33.

Institutional Trading of Harrow

Several institutional investors have recently made changes to their positions in HROW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Harrow by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,356 shares of the company’s stock valued at $582,000 after buying an additional 585 shares during the period. ProShare Advisors LLC raised its position in shares of Harrow by 30.8% during the 4th quarter. ProShare Advisors LLC now owns 10,289 shares of the company’s stock valued at $345,000 after buying an additional 2,421 shares during the period. Two Sigma Investments LP raised its position in shares of Harrow by 483.2% during the 4th quarter. Two Sigma Investments LP now owns 150,355 shares of the company’s stock valued at $5,044,000 after buying an additional 124,574 shares during the period. Two Sigma Advisers LP raised its position in shares of Harrow by 30.4% during the 4th quarter. Two Sigma Advisers LP now owns 38,200 shares of the company’s stock valued at $1,282,000 after buying an additional 8,900 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Harrow by 89.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,940 shares of the company’s stock valued at $2,078,000 after buying an additional 29,262 shares during the period. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Harrow Trading Up 6.0%

The stock has a market cap of $1.81 billion, a PE ratio of -195.40 and a beta of 0.33. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.58 and a current ratio of 0.62. The company’s 50-day moving average price is $37.78 and its 200 day moving average price is $30.92.

Harrow (NASDAQ:HROW) last released its quarterly earnings results on Monday, August 11th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.01 by $0.23. The firm had revenue of $63.74 million for the quarter, compared to analyst estimates of $64.23 million. Harrow had a negative net margin of 4.49% and a negative return on equity of 2.18%. Harrow has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Harrow, Inc. will post -0.53 EPS for the current fiscal year.

About Harrow

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.