Harrow (NASDAQ:HROW) Stock Price Down 6% – Should You Sell?

Harrow, Inc. (NASDAQ:HROW)’s stock price traded down 6% during mid-day trading on Friday . The company traded as low as $48.13 and last traded at $47.9550. 163,659 shares were traded during trading, a decline of 77% from the average session volume of 717,948 shares. The stock had previously closed at $51.04.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HROW shares. HC Wainwright boosted their price target on shares of Harrow from $64.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Lake Street Capital lifted their price objective on shares of Harrow from $42.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, September 29th. BTIG Research reissued a “buy” rating and set a $63.00 target price on shares of Harrow in a research note on Wednesday, September 24th. LADENBURG THALM/SH SH raised their price target on shares of Harrow from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Finally, B. Riley reaffirmed a “buy” rating and set a $74.00 price target (up previously from $70.00) on shares of Harrow in a report on Wednesday, October 1st. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Harrow has a consensus rating of “Moderate Buy” and a consensus target price of $71.43.

Harrow Stock Down 8.3%

The stock has a market cap of $1.73 billion, a P/E ratio of -467.75 and a beta of 0.02. The company has a current ratio of 2.72, a quick ratio of 2.52 and a debt-to-equity ratio of 5.21. The stock’s 50-day moving average is $44.14 and its 200-day moving average is $40.14.

Harrow (NASDAQ:HROW) last released its quarterly earnings results on Monday, November 10th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $71.64 million for the quarter, compared to the consensus estimate of $73.70 million. Harrow had a negative net margin of 1.99% and a positive return on equity of 28.71%. As a group, research analysts anticipate that Harrow, Inc. will post -0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Harrow

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Harrow by 4.7% during the 2nd quarter. Geode Capital Management LLC now owns 810,803 shares of the company’s stock valued at $24,765,000 after purchasing an additional 36,724 shares during the period. Marshall Wace LLP boosted its stake in Harrow by 31.5% during the second quarter. Marshall Wace LLP now owns 564,876 shares of the company’s stock valued at $17,251,000 after buying an additional 135,202 shares in the last quarter. Voya Investment Management LLC grew its holdings in Harrow by 4,035.5% during the first quarter. Voya Investment Management LLC now owns 381,461 shares of the company’s stock worth $10,147,000 after acquiring an additional 372,237 shares during the period. Penn Capital Management Company LLC bought a new stake in Harrow in the third quarter worth about $15,717,000. Finally, Luxor Capital Group LP acquired a new stake in Harrow in the 3rd quarter valued at about $14,807,000. 72.76% of the stock is owned by institutional investors.

Harrow Company Profile

Harrow Health, Inc (NASDAQ: HROW) is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.