Harrow (NASDAQ:HROW) Stock Rating Upgraded by Zacks Research

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

HROW has been the topic of several other reports. Cantor Fitzgerald dropped their price target on Harrow from $91.00 to $88.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Leerink Partners started coverage on Harrow in a research report on Wednesday. They set an “outperform” rating and a $45.00 price objective for the company. Wall Street Zen raised Harrow from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. BTIG Research reiterated a “buy” rating and issued a $63.00 target price on shares of Harrow in a report on Tuesday, August 11th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a research report on Monday, July 20th. Nine research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Harrow currently has a consensus rating of “Moderate Buy” and an average target price of $66.38.

Harrow Price Performance

Shares of NASDAQ:HROW opened at $36.58 on Wednesday. The company’s fifty day moving average is $40.47 and its two-hundred day moving average is $38.80. 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 12-month low of $28.54 and a 12-month high of $54.85. The company has a market cap of $1.37 billion, a P/E ratio of -36.58 and a beta of 0.24.

Harrow (NASDAQ:HROW) last released 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). The business had revenue of $70.66 million during the quarter, compared to analysts’ expectations of $70.35 million. Harrow had a negative net margin of 13.51% and a negative return on equity of 38.00%.

Insider Activity at Harrow

In other news, insider Amir Shojaei sold 11,250 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $40.00, for a total value of $450,000.00. Following the transaction, the insider directly owned 11,250 shares of the company’s stock, valued at approximately $450,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Harrow

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Harrow in the second quarter worth approximately $116,373,000. California State Teachers Retirement System lifted its stake in Harrow by 4,039.5% in the second quarter. California State Teachers Retirement System now owns 1,615,177 shares of the company’s stock valued at $68,597,000 after acquiring an additional 1,576,158 shares during the last quarter. Bamco Inc. NY acquired a new stake in Harrow in the second quarter valued at approximately $34,373,000. Jupiter Topco LLC acquired a new stake in Harrow in the second quarter valued at approximately $24,596,000. Finally, Rice Hall James & Associates LLC bought a new stake in Harrow in the second quarter worth approximately $16,459,000. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

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.