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

Harrow, Inc. (NASDAQ:HROW) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat Ratings reports. One investment 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 12-month price objective among brokerages that have issued a report on the stock in the last year is $66.17.

A number of analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a research note on Friday, October 16th. Leerink Partners initiated coverage on Harrow in a research report on Wednesday, September 9th. They issued an “outperform” rating and a $45.00 target price on the stock. BTIG Research reissued a “buy” rating and issued a $63.00 price objective on shares of Harrow in a research note on Wednesday, October 7th. Wall Street Zen raised shares of Harrow from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Zacks Research upgraded shares of Harrow from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 9th.

Harrow Price Performance

HROW stock opened at $28.24 on Friday. The firm has a 50 day moving average of $32.86 and a 200-day moving average of $38.42. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -28.24 and a beta of 0.19. Harrow has a 12-month low of $26.96 and a 12-month high of $54.85. The company has a current ratio of 2.24, a quick ratio of 2.08 and a debt-to-equity ratio of 19.70.

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

Insider Buying and Selling

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

Institutional Trading of Harrow

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Harrow during the second quarter worth $116,373,000. Luxor Capital Group LP raised its stake 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 acquiring an additional 201,859 shares during the last quarter. Bamco Inc. NY acquired a new position in Harrow in the second quarter worth $34,373,000. Jupiter Topco LLC acquired a new position in Harrow during the 2nd quarter worth about $24,596,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Harrow by 56.4% during the first quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company’s stock worth $20,428,000 after purchasing an additional 208,972 shares in the last quarter. 72.76% of the stock is currently owned by institutional investors and hedge funds.

About Harrow

Harrow, Inc is an ophthalmic pharmaceutical company focused on developing, acquiring, and commercializing prescription therapies for eye care. The company’s portfolio addresses conditions and procedures involving the ocular surface, anterior segment, and retina, with products intended for use by ophthalmologists and other eye-care professionals.

Harrow’s commercial products include VEVYE, a cyclosporine ophthalmic solution for the treatment of dry eye disease, and IHEEZO, a chloroprocaine hydrochloride ophthalmic gel used for ocular surface anesthesia during ophthalmic procedures.