Harrow, Inc. (NASDAQ:HROW) Receives $68.50 Consensus Price Target from Analysts

Harrow, Inc. (NASDAQ:HROW) has been given a consensus rating of “Moderate Buy” by the nine research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $68.50.

A number of equities analysts have recently issued reports on HROW shares. BTIG Research reiterated a “buy” rating and issued a $63.00 price objective on shares of Harrow in a report on Wednesday, September 24th. Craig Hallum upped their price objective on Harrow from $54.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. B. Riley reiterated a “buy” rating and issued a $74.00 price objective (up from $70.00) on shares of Harrow in a report on Wednesday, October 1st. Zacks Research cut Harrow from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Finally, Cantor Fitzgerald started coverage on Harrow in a report on Friday, July 11th. They issued an “overweight” rating and a $76.00 price objective for the company.

Institutional Investors Weigh In On Harrow

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP bought a new stake in shares of Harrow in the 1st quarter valued at about $32,000. Raymond James Financial Inc. bought a new stake in shares of Harrow in the 2nd quarter valued at about $48,000. State of Wyoming bought a new stake in shares of Harrow in the 1st quarter valued at about $97,000. Tower Research Capital LLC TRC lifted its stake in shares of Harrow by 345.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,373 shares of the company’s stock valued at $103,000 after acquiring an additional 2,615 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Harrow in the 1st quarter valued at about $149,000. Institutional investors own 72.76% of the company’s stock.

Harrow Price Performance

Harrow stock opened at $40.01 on Wednesday. The business has a 50-day simple moving average of $40.86 and a 200 day simple moving average of $33.04. Harrow has a 52 week low of $20.85 and a 52 week high of $59.23. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -160.04 and a beta of 0.27.

Harrow (NASDAQ:HROW) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $0.03 earnings per share (EPS) for the quarter. Harrow had a negative return on equity of 2.18% and a negative net margin of 4.49%.The firm had revenue of $22.12 million during the quarter. Harrow has set its Q2 2023 guidance at EPS. On average, research analysts forecast that Harrow will post -0.53 earnings per share 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.