Harrow’s (HROW) Buy Rating Reaffirmed at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Harrow (NASDAQ:HROW) in a research report released on Tuesday morning,Benzinga reports. They currently have a $63.00 price objective on the stock.

Several other equities research analysts have also recently commented on HROW. Zacks Research upgraded Harrow from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Nomura lowered Harrow to a “neutral” rating in a report on Wednesday, March 18th. Cantor Fitzgerald lowered their target price on Harrow from $94.00 to $91.00 and set an “overweight” rating on the stock in a report on Wednesday, March 4th. B. Riley Financial reaffirmed a “buy” rating and set a $65.00 price objective (down from $74.00) on shares of Harrow in a research note on Tuesday, April 7th. Finally, Weiss Ratings lowered Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $69.86.

Harrow Price Performance

Shares of NASDAQ HROW opened at $29.03 on Tuesday. The company has a current ratio of 2.20, a quick ratio of 2.06 and a debt-to-equity ratio of 4.67. Harrow has a twelve month low of $24.62 and a twelve month high of $54.85. The stock has a 50 day moving average of $37.30 and a two-hundred day moving average of $42.33. The stock has a market cap of $1.08 billion, a P/E ratio of -70.80 and a beta of 0.34.

Harrow (NASDAQ:HROW) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.31). Harrow had a negative net margin of 5.57% and a positive return on equity of 17.50%. The firm had revenue of $44.20 million during the quarter, compared to analysts’ expectations of $52.43 million. During the same quarter in the prior year, the firm posted ($0.38) EPS. On average, research analysts forecast that Harrow will post 0.48 earnings per share for the current year.

Hedge Funds Weigh In On Harrow

Several institutional investors and hedge funds have recently added to or reduced their stakes in HROW. Blackhawk Capital Partners LLC bought a new stake in Harrow during the 3rd quarter worth approximately $5,272,000. Penn Capital Management Company LLC acquired a new position in shares of Harrow in the 3rd quarter valued at $15,717,000. LJI Wealth Management LLC acquired a new position in shares of Harrow in the 3rd quarter valued at $1,445,000. Luxor Capital Group LP bought a new stake in shares of Harrow in the 3rd quarter valued at $14,807,000. Finally, Lumbard & Kellner LLC bought a new stake in shares of Harrow in the 3rd quarter valued at $4,281,000. 72.76% of the stock is currently 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.