Harrow, Inc. (NASDAQ:HROW) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Harrow, Inc. (NASDAQ:HROW) have received an average rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $69.4286.

HROW has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Harrow in a report on Monday, July 20th. BTIG Research reissued a “buy” rating and issued a $63.00 target price on shares of Harrow in a report on Tuesday, August 11th. Cantor Fitzgerald dropped their target price on shares of Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Zacks Research downgraded shares of Harrow from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded shares of Harrow from a “sell” rating to a “hold” rating in a report on Saturday, August 15th.

Insider Buying and Selling at Harrow

In other news, insider Amir Shojaei sold 11,250 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $40.00, for a total transaction of $450,000.00. Following the completion of the transaction, the insider owned 11,250 shares in the company, valued at $450,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 12.80% of the stock is currently owned by insiders.

Hedge Funds 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 position in Harrow during the 4th quarter valued at approximately $26,000. KBC Group NV purchased a new stake in shares of Harrow during the 1st quarter worth approximately $31,000. SBI Securities Co. Ltd. raised its holdings in shares of Harrow by 393.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company’s stock worth $52,000 after acquiring an additional 846 shares in the last quarter. First Bancorp Inc ME bought a new position in shares of Harrow during the 2nd quarter valued at approximately $64,000. Finally, Raymond James Financial Inc. bought a new position in shares of Harrow during the 2nd quarter valued at approximately $48,000. 72.76% of the stock is owned by institutional investors.

Harrow Stock Performance

NASDAQ:HROW opened at $38.54 on Friday. The stock has a 50-day moving average price of $40.85 and a 200 day moving average price of $39.23. The stock has a market capitalization of $1.44 billion, a P/E ratio of -38.54 and a beta of 0.24. Harrow has a 12-month low of $28.54 and a 12-month high of $54.85. The company has a current ratio of 2.24, a quick ratio of 2.08 and a debt-to-equity ratio of 19.70.

Harrow (NASDAQ:HROW) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.28). Harrow had a negative return on equity of 38.00% and a negative net margin of 13.51%.The business had revenue of $70.66 million during the quarter, compared to analysts’ expectations of $70.35 million.

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.