New York State Common Retirement Fund Raises Stock Position in Harrow, Inc. $HROW

New York State Common Retirement Fund boosted its position in Harrow, Inc. (NASDAQ:HROW) by 1,944.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,789 shares of the company’s stock after purchasing an additional 203,333 shares during the quarter. New York State Common Retirement Fund owned about 0.58% of Harrow worth $10,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Blackhawk Capital Partners LLC purchased a new stake in shares of Harrow in the 3rd quarter valued at about $5,272,000. Divisadero Street Capital Management LP purchased a new position in shares of Harrow during the second quarter worth about $4,293,000. Brookstone Capital Management increased its position in shares of Harrow by 232.5% in the third quarter. Brookstone Capital Management now owns 45,775 shares of the company’s stock worth $2,205,000 after purchasing an additional 32,009 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Harrow by 4.7% in the second quarter. Geode Capital Management LLC now owns 810,803 shares of the company’s stock worth $24,765,000 after purchasing an additional 36,724 shares during the last quarter. Finally, Calamos Advisors LLC purchased a new stake in Harrow in the third quarter valued at approximately $1,088,000. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on HROW shares. HC Wainwright boosted their price target on shares of Harrow from $64.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Harrow in a research note on Thursday, January 22nd. Zacks Research cut Harrow from a “strong-buy” rating to a “hold” rating in a report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $94.00 target price on shares of Harrow in a research note on Tuesday, November 11th. Finally, LADENBURG THALM/SH SH lifted their price target on shares of Harrow from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Harrow has an average rating of “Moderate Buy” and an average price target of $71.43.

Harrow Price Performance

HROW opened at $47.19 on Wednesday. The company has a debt-to-equity ratio of 5.21, a current ratio of 2.72 and a quick ratio of 2.52. Harrow, Inc. has a 1 year low of $20.85 and a 1 year high of $54.85. The stock’s 50 day simple moving average is $46.84 and its 200 day simple moving average is $41.76. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -471.85 and a beta of 0.07.

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