Harrow, Inc. (NASDAQ:HROW) Receives $69.43 Average PT from Analysts

Shares of Harrow, Inc. (NASDAQ:HROW) have been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $69.4286.

Several analysts have commented on the company. Zacks Research upgraded Harrow from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Cantor Fitzgerald dropped their price objective on shares of Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Wall Street Zen lowered shares of Harrow from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings cut shares of Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 22nd. Finally, B. Riley Financial restated a “buy” rating and issued a $65.00 target price (down from $74.00) on shares of Harrow in a report on Tuesday, April 7th.

Insider Buying and Selling

In related news, CFO Andrew R. Boll acquired 3,500 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $29.90 per share, with a total value of $104,650.00. Following the purchase, the chief financial officer directly owned 814,679 shares of the company’s stock, valued at approximately $24,358,902.10. This represents a 0.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Adrienne L. Graves acquired 1,000 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were purchased at an average price of $31.07 per share, with a total value of $31,070.00. Following the completion of the acquisition, the director owned 1,000 shares in the company, valued at approximately $31,070. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Harrow by 56.4% during the first quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company’s stock valued at $20,428,000 after acquiring an additional 208,972 shares during the period. Luxor Capital Group LP raised its holdings in shares of Harrow by 22.0% in the 1st quarter. Luxor Capital Group LP now owns 1,119,400 shares of the company’s stock worth $39,470,000 after purchasing an additional 201,859 shares during the period. Bank of America Corp DE raised its holdings in shares of Harrow by 266.8% in the 2nd quarter. Bank of America Corp DE now owns 213,448 shares of the company’s stock worth $6,519,000 after purchasing an additional 155,258 shares during the period. Invesco Ltd. lifted its stake in shares of Harrow by 967.6% in the 2nd quarter. Invesco Ltd. now owns 150,948 shares of the company’s stock valued at $4,610,000 after purchasing an additional 136,809 shares in the last quarter. Finally, UBS Group AG lifted its stake in shares of Harrow by 82.0% in the 4th quarter. UBS Group AG now owns 222,362 shares of the company’s stock valued at $10,896,000 after purchasing an additional 100,160 shares in the last quarter. 72.76% of the stock is owned by hedge funds and other institutional investors.

Harrow Stock Performance

Shares of HROW opened at $46.65 on Friday. Harrow has a fifty-two week low of $28.54 and a fifty-two week high of $54.85. The stock has a fifty day moving average of $38.07 and a two-hundred day moving average of $41.05. The company has a debt-to-equity ratio of 10.30, a quick ratio of 2.30 and a current ratio of 2.48. The company has a market capitalization of $1.74 billion, a PE ratio of -113.78 and a beta of 0.26.

Harrow (NASDAQ:HROW) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.31). The business had revenue of $44.20 million during the quarter, compared to analysts’ expectations of $52.43 million. Harrow had a negative net margin of 5.57% and a positive return on equity of 19.59%. During the same period in the prior year, the firm earned ($0.38) EPS. As a group, analysts forecast that Harrow will post 0.29 EPS for the current year.

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.