Harrow’s (HROW) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Harrow (NASDAQ:HROW) in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a $63.00 price objective on the stock.

HROW has been the topic of a number of other reports. Cantor Fitzgerald cut their price target on Harrow from $91.00 to $88.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Zacks Research upgraded shares of Harrow from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. B. Riley Financial reissued a “buy” rating and set a $65.00 target price (down from $74.00) on shares of Harrow in a research note on Tuesday, April 7th. Weiss Ratings cut shares of Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen downgraded shares of Harrow from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Harrow presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.43.

Harrow Stock Down 2.2%

Shares of NASDAQ:HROW opened at $41.88 on Tuesday. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -102.14 and a beta of 0.26. The company has a debt-to-equity ratio of 10.30, a current ratio of 2.48 and a quick ratio of 2.30. The business’s 50-day moving average is $38.97 and its 200-day moving average is $40.87. Harrow has a 1 year low of $28.54 and a 1 year high of $54.85.

Harrow (NASDAQ:HROW) last released its earnings results on Monday, May 11th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.31). The business had revenue of $44.20 million for the quarter, compared to analyst estimates of $52.43 million. Harrow had a positive return on equity of 19.59% and a negative net margin of 5.57%.During the same period in the prior year, the business earned ($0.38) EPS. Equities research analysts predict that Harrow will post 0.29 earnings per share for the current year.

Insider Activity at Harrow

In other news, CFO Andrew R. Boll bought 3,500 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of $29.90 per share, for a total transaction of $104,650.00. Following the acquisition, the chief financial officer directly owned 814,679 shares in the company, valued at approximately $24,358,902.10. This trade represents a 0.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Adrienne L. Graves bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average price of $31.07 per share, for a total transaction of $31,070.00. Following the completion of the acquisition, the director owned 1,000 shares in the company, valued at $31,070. This represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Harrow by 56.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company’s stock valued at $20,428,000 after purchasing an additional 208,972 shares during the last quarter. Luxor Capital Group LP raised its stake in shares of Harrow by 22.0% in the first quarter. Luxor Capital Group LP now owns 1,119,400 shares of the company’s stock worth $39,470,000 after purchasing an additional 201,859 shares during the last quarter. Bank of America Corp DE raised its stake 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 worth $6,519,000 after purchasing an additional 155,258 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Harrow by 967.6% in the second quarter. Invesco Ltd. now owns 150,948 shares of the company’s stock valued at $4,610,000 after purchasing an additional 136,809 shares in the last quarter. Finally, UBS Group AG lifted its holdings in shares of Harrow by 82.0% in the fourth quarter. UBS Group AG now owns 222,362 shares of the company’s stock valued at $10,896,000 after purchasing an additional 100,160 shares in the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

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.