Harrow, Inc. (NASDAQ:HROW) Stock Has Average Target Price of $66.17 According to Brokerages

Shares of Harrow, Inc. (NASDAQ:HROW) have been given an average recommendation of “Moderate Buy” by the ten research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $66.17.

A number of analysts recently issued reports on HROW shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a research report on Monday, July 20th. Zacks Research raised Harrow from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 9th. Leerink Partners started coverage on Harrow in a report on Wednesday, September 9th. They set an “outperform” rating and a $45.00 price target for the company. Wall Street Zen upgraded Harrow from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, BTIG Research reissued a “buy” rating and issued a $63.00 price target on shares of Harrow in a research note on Tuesday, August 11th.

Harrow Stock Performance

Shares of HROW opened at $30.35 on Wednesday. The company has a market capitalization of $1.14 billion, a PE ratio of -30.35 and a beta of 0.19. The company has a debt-to-equity ratio of 19.70, a quick ratio of 2.08 and a current ratio of 2.24. The company’s 50 day moving average price is $36.81 and its 200 day moving average price is $37.63. Harrow has a 52 week low of $28.54 and a 52 week high of $54.85.

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

Insider Transactions at Harrow

In other Harrow news, insider Amir Shojaei sold 11,250 shares of Harrow stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $40.00, for a total value of $450,000.00. Following the completion of the sale, the insider directly owned 11,250 shares in the company, valued at $450,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. KBC Group NV bought a new stake in Harrow in the first quarter worth $31,000. First Bancorp Inc ME bought a new position in Harrow during the second quarter valued at about $64,000. State of Wyoming bought a new position in Harrow during the second quarter valued at about $72,000. Freestone Grove Partners LP acquired a new stake in shares of Harrow in the second quarter worth about $157,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Harrow in the second quarter worth about $169,000. Institutional investors own 72.76% of the company’s stock.

About Harrow

Harrow, Inc is an ophthalmic pharmaceutical company focused on developing, acquiring, and commercializing prescription products for the treatment of eye conditions. Its portfolio is designed to serve ophthalmologists, optometrists, ambulatory surgery centers, and other eye-care providers across areas including dry eye disease, ocular inflammation, infection, and surgical care.

The company’s products include VEVYE, a cyclosporine ophthalmic emulsion for the treatment of signs and symptoms of dry eye disease, and IHEEZO, an ophthalmic anesthetic used in certain ocular procedures.