Brokerages Set Harrow, Inc. (NASDAQ:HROW) Target Price at $71.43

Shares of Harrow, Inc. (NASDAQ:HROW) have received an average rating of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $71.4286.

A number of analysts have recently weighed in on the company. Zacks Research upgraded Harrow from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a research note on Thursday. Lake Street Capital raised their target price on Harrow from $42.00 to $70.00 and gave the company a “buy” rating in a report on Monday, September 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $94.00 price target on shares of Harrow in a report on Tuesday, November 11th. Finally, B. Riley restated a “buy” rating and set a $74.00 price objective (up from $70.00) on shares of Harrow in a research report on Wednesday, October 1st.

Institutional Investors Weigh In On Harrow

A number of hedge funds have recently made changes to their positions in the stock. Penn Capital Management Company LLC bought a new stake in shares of Harrow during the 3rd quarter valued at approximately $15,717,000. Luxor Capital Group LP acquired a new stake in Harrow in the third quarter valued at approximately $14,807,000. New York State Common Retirement Fund grew its stake in shares of Harrow by 1,944.7% during the third quarter. New York State Common Retirement Fund now owns 213,789 shares of the company’s stock worth $10,300,000 after buying an additional 203,333 shares during the last quarter. Diametric Capital LP acquired a new position in shares of Harrow during the second quarter worth $4,748,000. Finally, Bank of America Corp DE increased its holdings in shares of Harrow by 266.8% during the second quarter. Bank of America Corp DE now owns 213,448 shares of the company’s stock worth $6,519,000 after buying an additional 155,258 shares in the last quarter. 72.76% of the stock is currently owned by institutional investors and hedge funds.

Harrow Stock Performance

Shares of HROW opened at $44.47 on Friday. The firm has a market cap of $1.65 billion, a P/E ratio of -444.66 and a beta of 0.02. Harrow has a twelve month low of $20.85 and a twelve month high of $54.85. The firm’s 50 day moving average price is $46.28 and its two-hundred day moving average price is $41.33. The company has a debt-to-equity ratio of 5.21, a quick ratio of 2.52 and a current ratio of 2.72.

Harrow (NASDAQ:HROW) last announced its earnings results on Monday, November 10th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. Harrow had a positive return on equity of 28.71% and a negative net margin of 1.99%.The business had revenue of $71.64 million for the quarter, compared to analyst estimates of $73.70 million. On average, analysts forecast that Harrow will post -0.53 EPS for the current fiscal year.

About Harrow

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.