Harrow (NASDAQ:HROW) Rating Lowered to Strong Sell at Zacks Research

Harrow (NASDAQ:HROW) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday, Zacks reports.

HROW has been the topic of several other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Harrow in a research report on Friday, October 16th. BTIG Research reissued a “buy” rating and set a $63.00 price target on shares of Harrow in a research report on Wednesday, October 7th. Wall Street Zen upgraded Harrow from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Leerink Partners assumed coverage on Harrow in a research note on Wednesday, September 9th. They set an “outperform” rating and a $45.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Harrow presently has an average rating of “Moderate Buy” and an average target price of $66.17.

Harrow Trading Up 0.7%

NASDAQ:HROW opened at $28.75 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. Harrow has a fifty-two week low of $26.96 and a fifty-two week high of $54.85. The firm’s 50 day moving average is $32.13 and its two-hundred day moving average is $38.13.

Harrow (NASDAQ:HROW) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.28). Harrow had a negative net margin of 13.51% and a negative return on equity of 38.00%. The company had revenue of $70.66 million during the quarter, compared to analyst estimates of $70.35 million. On average, equities research analysts predict that Harrow will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at Harrow

In other Harrow news, insider Amir Shojaei sold 11,250 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $40.00, for a total transaction of $450,000.00. Following the completion of the sale, the insider directly owned 11,250 shares in the company, valued at $450,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Harrow

Hedge funds have recently made changes to their positions in the business. Pictet Asset Management Holding SA lifted its holdings in shares of Harrow by 13.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 5,711 shares of the company’s stock valued at $201,000 after acquiring an additional 655 shares in the last quarter. KBC Group NV purchased a new stake in Harrow during the 1st quarter worth $31,000. China Universal Asset Management Co. Ltd. boosted its position in Harrow by 15.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,840 shares of the company’s stock worth $215,000 after purchasing an additional 908 shares during the period. Sterling Capital Management LLC increased its holdings in Harrow by 836.8% in the 3rd quarter. Sterling Capital Management LLC now owns 1,068 shares of the company’s stock valued at $33,000 after purchasing an additional 954 shares in the last quarter. Finally, First Bancorp Inc ME acquired a new stake in Harrow in the 2nd quarter valued at $64,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.

About Harrow

Harrow, Inc is an ophthalmic pharmaceutical company focused on developing, acquiring, and commercializing prescription therapies for eye care. The company’s portfolio addresses conditions and procedures involving the ocular surface, anterior segment, and retina, with products intended for use by ophthalmologists and other eye-care professionals.

Harrow’s commercial products include VEVYE, a cyclosporine ophthalmic solution for the treatment of dry eye disease, and IHEEZO, a chloroprocaine hydrochloride ophthalmic gel used for ocular surface anesthesia during ophthalmic procedures.