Harrow, Inc. (NASDAQ:HROW) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Harrow, Inc. (NASDAQ:HROW) have been assigned an average rating of “Moderate Buy” from the eleven brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $69.4286.

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Harrow from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a research note on Monday, July 20th. Cantor Fitzgerald dropped their price objective on Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. BTIG Research reiterated a “buy” rating and set a $63.00 target price on shares of Harrow in a research report on Tuesday, August 11th. Finally, Zacks Research downgraded Harrow from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th.

Insider Buying and Selling

In related news, insider Amir Shojaei sold 11,250 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $40.00, for a total value of $450,000.00. Following the completion of the transaction, the insider owned 11,250 shares of the company’s stock, valued at $450,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Harrow

A number of large investors have recently bought and sold shares of HROW. University of Texas Texas AM Investment Management Co. bought a new position in Harrow in the 4th quarter valued at about $26,000. KBC Group NV bought a new stake in shares of Harrow during the 1st quarter worth approximately $31,000. SBI Securities Co. Ltd. boosted its position in shares of Harrow by 393.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company’s stock worth $52,000 after acquiring an additional 846 shares in the last quarter. First Bancorp Inc ME acquired a new stake in shares of Harrow during the 2nd quarter worth approximately $64,000. Finally, Raymond James Financial Inc. bought a new position in Harrow in the second quarter valued at approximately $48,000. 72.76% of the stock is currently owned by institutional investors and hedge funds.

Harrow Price Performance

Shares of Harrow stock opened at $39.47 on Tuesday. The company has a quick ratio of 2.08, a current ratio of 2.24 and a debt-to-equity ratio of 19.70. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -39.47 and a beta of 0.28. Harrow has a twelve month low of $28.54 and a twelve month high of $54.85. The company has a 50-day simple moving average of $41.07 and a two-hundred day simple moving average of $39.83.

Harrow (NASDAQ:HROW) last announced its earnings results on Monday, August 10th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.28). Harrow had a negative return on equity of 38.00% and a negative net margin of 13.51%.The business had revenue of $70.66 million for the quarter, compared to analyst estimates of $70.35 million. Analysts forecast that Harrow will post 0.11 EPS 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.