Harrow, Inc. (NASDAQ:HROW) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Harrow, Inc. (NASDAQ:HROW) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $69.4286.

HROW has been the subject of several recent research reports. B. Riley Financial reiterated a “buy” rating and issued a $65.00 price objective (down from $74.00) on shares of Harrow in a research report on Tuesday, April 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a report on Monday. BTIG Research reissued a “buy” rating and set a $63.00 price objective on shares of Harrow in a research report on Tuesday. Zacks Research raised Harrow from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Finally, Wall Street Zen cut shares of Harrow from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th.

Insider Buying and Selling at Harrow

In related news, Director Adrienne L. Graves bought 1,000 shares of the business’s stock in a transaction on Monday, May 18th. The stock was acquired at an average price of $31.07 per share, with a total value of $31,070.00. Following the transaction, the director owned 1,000 shares in the company, valued at approximately $31,070. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Andrew R. Boll acquired 3,500 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $29.90 per share, with a total value of $104,650.00. Following the acquisition, the chief financial officer directly owned 814,679 shares of the company’s stock, valued at $24,358,902.10. This trade represents a 0.43% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 12.80% of the company’s stock.

Hedge Funds Weigh In On Harrow

Several institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of Harrow by 102.5% during the 1st quarter. Royal Bank of Canada now owns 9,813 shares of the company’s stock worth $261,000 after purchasing an additional 4,967 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Harrow by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,146 shares of the company’s stock worth $483,000 after purchasing an additional 790 shares in the last quarter. Strs Ohio purchased a new position in shares of Harrow during the first quarter valued at $149,000. Legal & General Group Plc increased its position in Harrow by 12.4% during the 2nd quarter. Legal & General Group Plc now owns 30,753 shares of the company’s stock valued at $939,000 after purchasing an additional 3,384 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Harrow by 9.3% during the second quarter. Rhumbline Advisers now owns 46,969 shares of the company’s stock valued at $1,434,000 after purchasing an additional 3,994 shares in the last quarter. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Harrow Stock Performance

Shares of NASDAQ HROW opened at $41.88 on Friday. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -102.14 and a beta of 0.26. Harrow has a 1-year low of $28.54 and a 1-year high of $54.85. The stock’s 50-day moving average is $38.97 and its 200 day moving average is $40.87. The company has a current ratio of 2.48, a quick ratio of 2.30 and a debt-to-equity ratio of 10.30.

Harrow (NASDAQ:HROW) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.31). The business had revenue of $44.20 million during the quarter, compared to analysts’ expectations 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 last year, the company posted ($0.38) EPS. On average, sell-side analysts anticipate that Harrow will post 0.29 EPS for the current fiscal year.

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.