Harrow (NASDAQ:HROW) Hits New 1-Year High – Time to Buy?

Harrow, Inc. (NASDAQ:HROW)’s stock price reached a new 52-week high during trading on Monday . The stock 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.

Wall Street Analyst Weigh In

Several equities analysts have weighed in 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 report on Monday, September 29th. BTIG Research reiterated a “buy” rating and set a $63.00 target price on shares of Harrow in a research report on Wednesday, September 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a report on Wednesday, October 8th. LADENBURG THALM/SH SH increased their price objective on shares of Harrow from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Finally, Craig Hallum boosted their target price on shares of Harrow from $54.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.43.

Harrow Trading Up 0.8%

The company’s 50 day simple moving average is $41.78 and its 200-day simple moving average is $38.83. The firm has a market cap of $1.87 billion, a P/E ratio of -505.22 and a beta of 0.07. The company has a quick ratio of 2.52, a current ratio of 2.72 and a debt-to-equity ratio of 5.21.

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 company had revenue of $71.64 million for the quarter, compared to the consensus estimate of $73.70 million. Harrow had a positive return on equity of 28.71% and a negative net margin of 1.99%. As a group, research analysts predict that Harrow, Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.