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

Harrow (NASDAQ:HROW)‘s stock had its “buy” rating reiterated by research analysts at BTIG Research in a report issued on Tuesday,Benzinga reports. They presently have a $63.00 target price on the stock. BTIG Research’s price objective would suggest a potential upside of 41.73% from the stock’s previous close.

Several other analysts have also recently weighed in on HROW. B. Riley Financial reiterated a “buy” rating and issued a $65.00 price target (down from $74.00) on shares of Harrow in a report on Tuesday, April 7th. Wall Street Zen downgraded shares of Harrow from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings downgraded shares of Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. Zacks Research raised Harrow from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Finally, Cantor Fitzgerald reduced 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. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Harrow currently has an average rating of “Moderate Buy” and an average target price of $69.43.

Harrow Trading Down 4.7%

Shares of HROW stock opened at $44.45 on Tuesday. The firm has a market cap of $1.66 billion, a P/E ratio of -108.41 and a beta of 0.26. The company has a quick ratio of 2.30, a current ratio of 2.48 and a debt-to-equity ratio of 10.30. Harrow has a 12-month low of $28.54 and a 12-month high of $54.85. The business has a 50-day moving average price of $38.20 and a two-hundred day moving average price of $41.01.

Harrow (NASDAQ:HROW) last released its earnings results on Monday, May 11th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.31). The business had revenue of $44.20 million for the quarter, compared to the consensus estimate 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 business posted ($0.38) EPS. Equities analysts anticipate that Harrow will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Harrow

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HROW. Penn Capital Management Company LLC boosted its holdings in Harrow by 20.5% in the 4th quarter. Penn Capital Management Company LLC now owns 392,067 shares of the company’s stock worth $19,257,000 after buying an additional 66,589 shares during the period. State of Alaska Department of Revenue raised its holdings in Harrow by 807.4% during the fourth quarter. State of Alaska Department of Revenue now owns 15,807 shares of the company’s stock valued at $774,000 after acquiring an additional 14,065 shares during the period. Jefferson Bridge Capital LLC purchased a new position in shares of Harrow in the fourth quarter valued at about $2,587,000. Vanguard Group Inc. lifted its position in shares of Harrow by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 1,921,683 shares of the company’s stock valued at $94,162,000 after acquiring an additional 50,889 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in shares of Harrow by 8.5% in the fourth quarter. Rice Hall James & Associates LLC now owns 361,998 shares of the company’s stock worth $17,738,000 after acquiring an additional 28,303 shares during the period. Hedge funds and other institutional investors own 72.76% of the company’s stock.

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.