Harrow (NASDAQ:HROW) Issues Quarterly Earnings Results

Harrow (NASDAQ:HROW) announced its quarterly earnings data on Monday. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.31), FiscalAI reports. The firm had revenue of $44.20 million for the quarter, compared to analyst estimates of $52.43 million. Harrow had a negative net margin of 5.57% and a positive return on equity of 17.50%. During the same quarter in the prior year, the firm earned ($0.38) earnings per share.

Harrow Stock Performance

Shares of Harrow stock traded up $1.16 during mid-day trading on Wednesday, hitting $30.19. 1,129,827 shares of the stock were exchanged, compared to its average volume of 736,063. Harrow has a 12 month low of $24.62 and a 12 month high of $54.85. The company has a 50-day simple moving average of $37.30 and a 200 day simple moving average of $42.33. The company has a debt-to-equity ratio of 4.67, a quick ratio of 2.06 and a current ratio of 2.20. The company has a market capitalization of $1.13 billion, a P/E ratio of -73.63 and a beta of 0.34.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Weiss Ratings downgraded Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 22nd. Nomura downgraded Harrow to a “neutral” rating in a report on Wednesday, March 18th. William Blair reiterated an “outperform” rating on shares of Harrow in a report on Tuesday, March 3rd. B. Riley Financial reiterated a “buy” rating and set a $65.00 price target (down from $74.00) on shares of Harrow in a report on Tuesday, April 7th. Finally, Cantor Fitzgerald cut their price objective on shares of Harrow from $91.00 to $88.00 and set an “overweight” rating on the stock in a research report on Wednesday. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Harrow presently has a consensus rating of “Moderate Buy” and an average price target of $69.43.

Institutional Investors Weigh In On Harrow

Several large investors have recently modified their holdings of HROW. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Harrow during the 4th quarter worth approximately $26,000. Raymond James Financial Inc. bought a new position in Harrow in the 2nd quarter valued at $48,000. Tower Research Capital LLC TRC lifted its stake in Harrow by 345.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,373 shares of the company’s stock worth $103,000 after purchasing an additional 2,615 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Harrow by 848.2% during the third quarter. Larson Financial Group LLC now owns 2,162 shares of the company’s stock valued at $104,000 after acquiring an additional 1,934 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of Harrow during the first quarter valued at about $149,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.

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.