Harrow, Inc. (NASDAQ:HROW) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Harrow, Inc. (NASDAQ:HROW) have been assigned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $69.4286.

A number of equities analysts have recently commented on the stock. B. Riley Financial reissued a “buy” rating and issued a $65.00 target price (down from $74.00) on shares of Harrow in a research note on Tuesday, April 7th. Weiss Ratings downgraded shares of Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. Wall Street Zen downgraded shares of Harrow from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. William Blair reissued an “outperform” rating on shares of Harrow in a research note on Tuesday, March 3rd. Finally, Zacks Research raised shares of Harrow from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd.

Insiders Place Their Bets

In other news, Director Adrienne L. Graves purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were purchased at an average price of $31.07 per share, with a total value of $31,070.00. Following the purchase, the director directly owned 1,000 shares of the company’s stock, valued at approximately $31,070. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrew R. Boll purchased 3,500 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average cost of $29.90 per share, for a total transaction of $104,650.00. Following the purchase, the chief financial officer directly owned 814,679 shares in the company, valued at $24,358,902.10. This trade represents a 0.43% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 12.80% of the company’s stock.

Institutional Investors Weigh In On Harrow

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Penn Capital Management Company LLC purchased a new stake in Harrow during the 3rd quarter worth $15,717,000. Luxor Capital Group LP purchased a new stake in Harrow during the 3rd quarter worth $14,807,000. Lumbard & Kellner LLC purchased a new stake in Harrow during the 3rd quarter worth $4,281,000. New York State Common Retirement Fund increased its stake in Harrow by 1,944.7% during the 3rd quarter. New York State Common Retirement Fund now owns 213,789 shares of the company’s stock worth $10,300,000 after buying an additional 203,333 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in Harrow by 807.4% during the 4th quarter. State of Alaska Department of Revenue now owns 15,807 shares of the company’s stock worth $774,000 after buying an additional 14,065 shares during the period. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Harrow Stock Performance

Shares of HROW stock opened at $34.43 on Thursday. The company’s fifty day simple moving average is $36.01 and its 200-day simple moving average is $41.94. Harrow has a 52 week low of $25.68 and a 52 week high of $54.85. The company has a current ratio of 2.48, a quick ratio of 2.30 and a debt-to-equity ratio of 10.30. The company has a market cap of $1.28 billion, a PE ratio of -83.97 and a beta of 0.34.

Harrow (NASDAQ:HROW) last issued its earnings results on Monday, May 11th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.31). Harrow had a negative net margin of 5.57% and a positive return on equity of 19.59%. The business had revenue of $44.20 million during the quarter, compared to analysts’ expectations of $52.43 million. During the same period in the prior year, the business posted ($0.38) EPS. As a group, equities research analysts anticipate that Harrow will post 0.29 EPS for the current year.

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.