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

Harrow, Inc. (NASDAQ:HROW) shares 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 trading hands. The stock had previously closed at $49.91.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Zacks Research lowered Harrow from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Craig Hallum raised their price target on Harrow from $54.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. BTIG Research restated a “buy” rating and set a $63.00 price objective on shares of Harrow in a research note on Wednesday, September 24th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a research report on Wednesday, October 8th. Finally, HC Wainwright raised 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 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, the company presently has an average rating of “Moderate Buy” and an average target price of $71.43.

Harrow Price Performance

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 stock has a 50-day simple moving average of $42.76 and a 200 day simple moving average of $39.49. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -521.10 and a beta of 0.02.

Harrow (NASDAQ:HROW) last released its quarterly earnings data on Monday, November 10th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. The firm had revenue of $71.64 million for the quarter, compared to analyst estimates 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 forecast that Harrow, Inc. will post -0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Harrow

A number of institutional investors have recently made changes to their positions in the business. Quarry LP bought a new position in Harrow in the 1st quarter worth approximately $32,000. Raymond James Financial Inc. acquired a new position in Harrow during the 2nd quarter valued at $48,000. State of Alaska Department of Revenue bought a new stake in Harrow in the 3rd quarter valued at $83,000. State of Wyoming bought a new stake in Harrow in the 1st quarter valued at $97,000. Finally, Tower Research Capital LLC TRC grew its position in 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 last quarter. 72.76% of the stock is currently 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.