Harrow (NASDAQ:HROW) Reaches New 52-Week High – Time to Buy?

Shares of Harrow, Inc. (NASDAQ:HROW) reached a new 52-week high on Monday . The company traded as high as $52.93 and last traded at $51.9220, with a volume of 246416 shares. The stock had previously closed at $49.91.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HROW. Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a research report on Wednesday, October 8th. LADENBURG THALM/SH SH lifted their price target on shares of Harrow from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. B. Riley restated a “buy” rating and issued a $74.00 price objective (up previously from $70.00) on shares of Harrow in a research note on Wednesday, October 1st. Craig Hallum raised their price objective on shares of Harrow from $54.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Finally, HC Wainwright upped their target price on shares of Harrow from $64.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.43.

Harrow Stock Performance

The stock has a 50-day moving average of $42.76 and a 200 day moving average of $39.49. The firm has a market capitalization of $1.94 billion, a P/E ratio of -521.10 and a beta of 0.02. The company has a debt-to-equity ratio of 5.21, a quick ratio of 2.52 and a current ratio of 2.72.

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

Institutional Trading of Harrow

Several hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas raised its position in Harrow by 4.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 8,478 shares of the company’s stock worth $259,000 after purchasing an additional 332 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Harrow by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 16,547 shares of the company’s stock valued at $505,000 after acquiring an additional 341 shares during the last quarter. Alliancebernstein L.P. increased its position in Harrow by 1.7% in the third quarter. Alliancebernstein L.P. now owns 29,520 shares of the company’s stock worth $1,422,000 after purchasing an additional 500 shares during the period. Pale Fire Capital SE raised its holdings in Harrow by 6.8% during the 2nd quarter. Pale Fire Capital SE now owns 8,683 shares of the company’s stock worth $265,000 after purchasing an additional 550 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Harrow by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,146 shares of the company’s stock valued at $483,000 after purchasing an additional 790 shares during the period. 72.76% of the stock is owned by institutional investors.

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.