Advocate Group LLC Takes Position in Harrow, Inc. $HROW

Advocate Group LLC purchased a new stake in Harrow, Inc. (NASDAQ:HROW) in the second quarter, Holdings Channel.com reports. The fund purchased 8,824 shares of the company’s stock, valued at approximately $269,000.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Harrow by 2,401.2% in the 1st quarter. GAMMA Investing LLC now owns 6,278 shares of the company’s stock valued at $1,670,000 after purchasing an additional 6,027 shares in the last quarter. HighTower Advisors LLC increased its holdings in Harrow by 30.5% during the 1st quarter. HighTower Advisors LLC now owns 13,217 shares of the company’s stock valued at $352,000 after acquiring an additional 3,090 shares in the last quarter. Maridea Wealth Management LLC purchased a new position in Harrow during the 2nd quarter valued at about $202,000. Voya Investment Management LLC increased its holdings in Harrow by 4,035.5% during the 1st quarter. Voya Investment Management LLC now owns 381,461 shares of the company’s stock valued at $10,147,000 after acquiring an additional 372,237 shares in the last quarter. Finally, Braidwell LP increased its holdings in Harrow by 5.5% during the 1st quarter. Braidwell LP now owns 956,839 shares of the company’s stock valued at $25,452,000 after acquiring an additional 49,800 shares in the last quarter. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HROW shares. BTIG Research restated a “buy” rating and set a $63.00 target price on shares of Harrow in a report on Wednesday, September 24th. Lake Street Capital raised their target price on shares of Harrow from $42.00 to $70.00 and gave the company a “buy” rating in a report on Monday, September 29th. B. Riley restated a “buy” rating and set a $74.00 target price (up from $70.00) on shares of Harrow in a report on Wednesday, October 1st. Zacks Research downgraded shares of Harrow from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a report on Wednesday. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.50.

Harrow Stock Performance

HROW stock opened at $37.48 on Friday. Harrow, Inc. has a fifty-two week low of $20.85 and a fifty-two week high of $59.23. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $1.39 billion, a P/E ratio of -149.92 and a beta of 0.27. The company has a 50-day simple moving average of $40.30 and a 200 day simple moving average of $32.64.

Harrow (NASDAQ:HROW) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $0.03 earnings per share (EPS) for the quarter. The firm had revenue of $22.12 million for the quarter. Harrow had a negative return on equity of 2.18% and a negative net margin of 4.49%. Harrow has set its Q2 2023 guidance at EPS. Sell-side analysts predict that Harrow, Inc. will post -0.53 earnings per share for the current fiscal year.

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.