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

Harrow (NASDAQ:HROW) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on the company. Cantor Fitzgerald reduced their price objective on Harrow from $91.00 to $88.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. BTIG Research restated a “buy” rating and issued a $63.00 target price on shares of Harrow in a research report on Tuesday. Wall Street Zen lowered Harrow from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a research report on Monday, July 20th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.43.

Harrow Stock Down 0.2%

HROW opened at $39.36 on Tuesday. The stock has a market cap of $1.48 billion, a PE ratio of -39.36 and a beta of 0.28. The company has a quick ratio of 2.30, a current ratio of 2.48 and a debt-to-equity ratio of 10.30. Harrow has a 52 week low of $28.54 and a 52 week high of $54.85. The business’s fifty day simple moving average is $40.72 and its 200 day simple moving average is $39.92.

Harrow (NASDAQ:HROW) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.28). Harrow had a negative return on equity of 31.83% and a negative net margin of 13.51%.The firm had revenue of $70.66 million for the quarter, compared to the consensus estimate of $69.84 million. As a group, research analysts expect that Harrow will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Harrow

In other news, Director Adrienne L. Graves bought 1,000 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were 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 of the company’s stock, valued at approximately $31,070. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 12.80% of the company’s stock.

Institutional Investors Weigh In On Harrow

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in Harrow during the 4th quarter valued at $26,000. KBC Group NV bought a new stake in Harrow in the 1st quarter worth $31,000. Raymond James Financial Inc. purchased a new position in shares of Harrow in the second quarter valued at about $48,000. SBI Securities Co. Ltd. increased its position in shares of Harrow by 393.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company’s stock valued at $52,000 after acquiring an additional 846 shares during the period. Finally, State of Wyoming bought a new position in shares of Harrow during the second quarter valued at about $72,000. 72.76% of the stock is currently owned by 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.