Harrow (NASDAQ:HROW) Reaches New 12-Month High – What’s Next?

Harrow, Inc. (NASDAQ:HROW) reached a new 52-week high on Monday . The company traded as high as $51.53 and last traded at $50.84, with a volume of 118300 shares. The stock had previously closed at $50.09.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Lake Street Capital boosted their price target on shares of Harrow from $42.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $94.00 price target on shares of Harrow in a research note on Tuesday, November 11th. BTIG Research reiterated a “buy” rating and set a $63.00 price objective on shares of Harrow in a research note on Wednesday, September 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a research report on Wednesday, October 8th. Finally, Zacks Research cut Harrow from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Harrow presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.43.

Harrow Trading Up 0.8%

The business has a fifty day moving average price of $41.78 and a two-hundred day moving average price of $38.83. The company has a current ratio of 2.72, a quick ratio of 2.52 and a debt-to-equity ratio of 5.21. The firm has a market capitalization of $1.87 billion, a PE ratio of -505.22 and a beta of 0.07.

Harrow (NASDAQ:HROW) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The business had revenue of $71.64 million during the quarter, compared to analysts’ expectations of $73.70 million. Harrow had a positive return on equity of 28.71% and a negative net margin of 1.99%. Analysts expect that Harrow, Inc. will post -0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HROW. Quarry LP purchased a new stake in Harrow during the 1st quarter worth about $32,000. Raymond James Financial Inc. acquired a new stake in Harrow in the second quarter valued at approximately $48,000. State of Alaska Department of Revenue purchased a new position in Harrow in the third quarter worth approximately $83,000. State of Wyoming acquired a new position in Harrow during the 1st quarter worth approximately $97,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Harrow by 345.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,373 shares of the company’s stock valued at $103,000 after purchasing an additional 2,615 shares during the last quarter. 72.76% of the stock is currently owned by hedge funds and other 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.