Harrow (NASDAQ:HROW) Posts Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Harrow (NASDAQ:HROW) issued its quarterly earnings data on Monday. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.22, Zacks reports. Harrow had a negative net margin of 4.49% and a negative return on equity of 2.18%.

Harrow Stock Up 0.6%

Shares of NASDAQ HROW traded up $0.21 during trading hours on Monday, hitting $34.14. The company had a trading volume of 1,530,515 shares, compared to its average volume of 542,326. The stock has a market capitalization of $1.26 billion, a P/E ratio of -136.56 and a beta of 0.19. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 0.78. Harrow has a 1-year low of $20.85 and a 1-year high of $54.19. The firm’s 50 day moving average is $40.74 and its 200-day moving average is $34.69.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. lifted its stake in Harrow by 10.3% in the 2nd quarter. Osaic Holdings Inc. now owns 24,031 shares of the company’s stock valued at $734,000 after purchasing an additional 2,249 shares during the last quarter. Tower Research Capital LLC TRC raised 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 valued at $103,000 after buying an additional 2,615 shares during the period. Engineers Gate Manager LP raised its stake in Harrow by 194.7% in the second quarter. Engineers Gate Manager LP now owns 35,565 shares of the company’s stock valued at $1,086,000 after buying an additional 23,495 shares during the period. Bank of America Corp DE lifted its position in shares of Harrow by 266.8% in the second quarter. Bank of America Corp DE now owns 213,448 shares of the company’s stock valued at $6,519,000 after buying an additional 155,258 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Harrow during the 2nd quarter worth approximately $48,000. Institutional investors own 72.76% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on HROW shares. BTIG Research reissued a “buy” rating and issued a $63.00 price target on shares of Harrow in a research note on Wednesday, September 24th. Craig Hallum lifted their target price on Harrow from $54.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. HC Wainwright restated a “buy” rating and issued a $64.00 target price on shares of Harrow in a research note on Monday, September 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Harrow in a research note on Wednesday, October 8th. Finally, B. Riley reiterated a “buy” rating and issued a $74.00 price objective (up from $70.00) on shares of Harrow in a report on Wednesday, October 1st. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.50.

About Harrow

Harrow, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company was formerly known as Imprimis Pharmaceuticals, Inc and changed its name to Harrow Health, Inc in December 2018. Harrow Health, Inc was incorporated in 2006 and is headquartered in Nashville, Tennessee.