Harrow (NASDAQ:HROW) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Harrow (NASDAQ:HROW) from a strong sell rating to a hold rating in a research report released on Wednesday,Zacks reports.

Other analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Harrow in a report on Monday, July 20th. Leerink Partners initiated coverage on Harrow in a research report on Wednesday. They issued an “outperform” rating and a $45.00 price objective for the company. Wall Street Zen raised shares of Harrow from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. BTIG Research reissued a “buy” rating and issued a $63.00 price objective on shares of Harrow in a research note on Tuesday, August 11th. Finally, Cantor Fitzgerald decreased their target price on shares of Harrow from $91.00 to $88.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.38.

Harrow Stock Performance

Shares of HROW stock opened at $36.58 on Wednesday. The company has a current ratio of 2.24, a quick ratio of 2.08 and a debt-to-equity ratio of 19.70. The company has a market cap of $1.37 billion, a PE ratio of -36.58 and a beta of 0.24. Harrow has a 12-month low of $28.54 and a 12-month high of $54.85. The business’s fifty day simple moving average is $40.47 and its 200-day simple moving average is $38.80.

Harrow (NASDAQ:HROW) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.28). The company had revenue of $70.66 million during the quarter, compared to analysts’ expectations of $70.35 million. Harrow had a negative net margin of 13.51% and a negative return on equity of 38.00%.

Insider Activity at Harrow

In other news, insider Amir Shojaei sold 11,250 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $40.00, for a total transaction of $450,000.00. Following the transaction, the insider directly owned 11,250 shares in the company, valued at approximately $450,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 12.80% of the company’s stock.

Hedge Funds Weigh In On Harrow

Large investors have recently bought and sold shares of the company. Engineers Gate Manager LP acquired a new stake in shares of Harrow in the 2nd quarter valued at approximately $358,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Harrow in the 2nd quarter valued at about $425,000. California State Teachers Retirement System grew its position in shares of Harrow by 4,039.5% in the second quarter. California State Teachers Retirement System now owns 1,615,177 shares of the company’s stock valued at $68,597,000 after purchasing an additional 1,576,158 shares during the last quarter. FirstWave Capital Management LLC increased its position in Harrow by 47.3% during the second quarter. FirstWave Capital Management LLC now owns 211,981 shares of the company’s stock worth $9,003,000 after buying an additional 68,058 shares in the last quarter. Finally, Pale Fire Capital SE increased its position in Harrow by 23.5% during the 2nd quarter. Pale Fire Capital SE now owns 10,515 shares of the company’s stock worth $447,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 72.76% of the company’s stock.

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.