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

BTIG Research restated their buy rating on shares of Harrow (NASDAQ:HROW) in a research report released on Tuesday morning,Benzinga reports. They currently have a $63.00 target price on the stock.

HROW has been the topic of several other research reports. Cantor Fitzgerald cut their target price on shares of Harrow from $91.00 to $88.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Wall Street Zen lowered shares of Harrow from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a research report on Monday, July 20th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.43.

Harrow Trading Down 1.2%

Shares of HROW stock opened at $38.87 on Tuesday. The stock has a market capitalization of $1.46 billion, a PE ratio of -38.87 and a beta of 0.28. Harrow has a 1-year low of $28.54 and a 1-year high of $54.85. The business has a 50-day moving average of $40.81 and a 200 day moving average of $39.88. The company has a debt-to-equity ratio of 10.30, a current ratio of 2.48 and a quick ratio of 2.30.

Harrow (NASDAQ:HROW) last posted 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). The company had revenue of $70.66 million for the quarter, compared to the consensus estimate of $70.35 million. Harrow had a negative return on equity of 31.83% and a negative net margin of 13.51%. As a group, sell-side analysts anticipate that Harrow will post 0.3 earnings per share for the current year.

Insider Transactions at Harrow

In other Harrow news, Director Adrienne L. Graves purchased 1,000 shares of Harrow stock in a transaction that occurred on Monday, May 18th. The shares were bought at an average price of $31.07 per share, for a total transaction of $31,070.00. Following the acquisition, the director directly owned 1,000 shares in the company, 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 Securities & Exchange Commission, which is available at this link. 12.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Harrow

A number of large investors have recently made changes to their positions in HROW. Cibc World Market Inc. purchased a new position in shares of Harrow during the second quarter valued at approximately $361,000. Commerce Bank purchased a new stake in Harrow in the second quarter worth $953,000. Quantbot Technologies LP purchased a new stake in Harrow in the second quarter worth $438,000. Bard Associates Inc. bought a new stake in Harrow in the second quarter valued at $1,716,000. Finally, Pasadena Private Wealth LLC bought a new stake in Harrow in the second quarter valued at $212,000. 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.