Harrow (NASDAQ:HROW) Sets New 1-Year High – Still a Buy?

Harrow, Inc. (NASDAQ:HROW)’s share price reached a new 52-week high on Monday . The company traded as high as $51.53 and last traded at $50.84, with a volume of 118300 shares. The stock had previously closed at $50.09.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $94.00 price target on shares of Harrow in a research report on Tuesday, November 11th. LADENBURG THALM/SH SH lifted their target price on Harrow from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Zacks Research lowered shares of Harrow from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a report on Wednesday, October 8th. Finally, Craig Hallum lifted their price objective on shares of Harrow from $54.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Harrow has an average rating of “Moderate Buy” and a consensus price target of $71.43.

Harrow Stock Performance

The company has a current ratio of 2.72, a quick ratio of 2.52 and a debt-to-equity ratio of 5.21. The company has a market cap of $1.84 billion, a PE ratio of -499.20 and a beta of 0.07. The firm’s 50-day simple moving average is $42.13 and its two-hundred day simple moving average is $39.11.

Harrow (NASDAQ:HROW) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. Harrow had a negative net margin of 1.99% and a positive return on equity of 28.71%. The business had revenue of $71.64 million during the quarter, compared to the consensus estimate of $73.70 million. As a group, research analysts anticipate that Harrow, Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HROW. Quarry LP purchased a new stake in Harrow in the first quarter valued at approximately $32,000. Raymond James Financial Inc. acquired a new stake in Harrow during the 2nd quarter valued at approximately $48,000. State of Alaska Department of Revenue purchased a new stake in shares of Harrow in the 3rd quarter valued at $83,000. Larson Financial Group LLC increased its stake in shares of Harrow by 848.2% in the third quarter. Larson Financial Group LLC now owns 2,162 shares of the company’s stock worth $104,000 after acquiring an additional 1,934 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Harrow by 345.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,373 shares of the company’s stock worth $103,000 after purchasing an additional 2,615 shares during the last quarter. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

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.