Harrow (NASDAQ:HROW) Trading Up 6.6% – Time to Buy?

Harrow, Inc. (NASDAQ:HROW) shares were up 6.6% during trading on Wednesday . The stock traded as high as $35.70 and last traded at $35.6850. Approximately 60,946 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 746,242 shares. The stock had previously closed at $33.46.

Analyst Ratings Changes

Several analysts have commented on HROW shares. BTIG Research reissued a “buy” rating and issued a $63.00 price objective on shares of Harrow in a report on Tuesday, May 12th. Cantor Fitzgerald dropped their price objective on Harrow from $91.00 to $88.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. HC Wainwright reissued a “buy” rating and issued a $70.00 price objective on shares of Harrow in a report on Thursday, March 19th. Nomura lowered Harrow to a “neutral” rating in a report on Wednesday, March 18th. Finally, William Blair reissued an “outperform” rating on shares of Harrow in a report on Tuesday, March 3rd. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.43.

Harrow Trading Up 5.1%

The company has a 50 day simple moving average of $35.97 and a 200 day simple moving average of $41.65. The company has a debt-to-equity ratio of 10.30, a quick ratio of 2.30 and a current ratio of 2.48. The company has a market capitalization of $1.41 billion, a PE ratio of -92.01 and a beta of 0.28.

Harrow (NASDAQ:HROW) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.31). Harrow had a positive return on equity of 19.59% and a negative net margin of 5.57%.The firm had revenue of $44.20 million for the quarter, compared to analysts’ expectations of $52.43 million. During the same quarter last year, the firm posted ($0.38) earnings per share. Analysts anticipate that Harrow, Inc. will post 0.29 earnings per share for the current year.

Insider Activity at Harrow

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

Institutional Investors Weigh In On Harrow

A number of large investors have recently made changes to their positions in the stock. California State Teachers Retirement System grew its position in shares of Harrow by 26.6% in the first quarter. California State Teachers Retirement System now owns 39,019 shares of the company’s stock valued at $1,376,000 after purchasing an additional 8,198 shares in the last quarter. Quantinno Capital Management LP grew its position in shares of Harrow by 34.1% in the first quarter. Quantinno Capital Management LP now owns 7,199 shares of the company’s stock valued at $254,000 after purchasing an additional 1,829 shares in the last quarter. Corsair Capital Management L.P. grew its position in shares of Harrow by 90.0% in the first quarter. Corsair Capital Management L.P. now owns 19,000 shares of the company’s stock valued at $670,000 after purchasing an additional 9,000 shares in the last quarter. Luxor Capital Group LP grew its position in shares of Harrow by 22.0% in the first quarter. Luxor Capital Group LP now owns 1,119,400 shares of the company’s stock valued at $39,470,000 after purchasing an additional 201,859 shares in the last quarter. Finally, Rice Hall James & Associates LLC grew its position in shares of Harrow by 1.7% in the first quarter. Rice Hall James & Associates LLC now owns 368,177 shares of the company’s stock valued at $12,982,000 after purchasing an additional 6,179 shares in the last quarter. 72.76% of the stock is currently owned by hedge funds and other 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.