Harrow (NASDAQ:HROW) Reaches New 1-Year High – Should You Buy?

Harrow, Inc. (NASDAQ:HROW)’s stock price reached a new 52-week high on Thursday . The company traded as high as $50.99 and last traded at $50.6010, with a volume of 557618 shares traded. The stock had previously closed at $50.20.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Lake Street Capital lifted their price target on shares of Harrow from $42.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Zacks Research lowered shares of Harrow from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. LADENBURG THALM/SH SH raised their price objective on Harrow from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. B. Riley restated a “buy” rating and set a $74.00 price target (up from $70.00) on shares of Harrow in a report on Wednesday, October 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $94.00 price target on shares of Harrow in a research note on Tuesday, November 11th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.43.

Harrow Price Performance

The firm has a fifty day moving average of $40.14 and a 200 day moving average of $37.17. The company has a market capitalization of $1.89 billion, a P/E ratio of -510.95 and a beta of 0.07. The company has a current ratio of 2.72, a quick ratio of 2.52 and a debt-to-equity ratio of 5.21.

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

Institutional Investors Weigh In On Harrow

A number of large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Harrow in the first quarter worth $32,000. Raymond James Financial Inc. purchased a new position in Harrow in the second quarter worth about $48,000. State of Alaska Department of Revenue bought a new stake in shares of Harrow during the 3rd quarter valued at about $83,000. State of Wyoming purchased a new stake in shares of Harrow during the 1st quarter valued at about $97,000. Finally, Tower Research Capital LLC TRC lifted its stake 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 worth $103,000 after purchasing an additional 2,615 shares during the period. Institutional investors own 72.76% of the company’s stock.

Harrow Company Profile

Harrow, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company was formerly known as Imprimis Pharmaceuticals, Inc and changed its name to Harrow Health, Inc in December 2018. Harrow Health, Inc was incorporated in 2006 and is headquartered in Nashville, Tennessee.