Harrow (NASDAQ:HROW) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Harrow (NASDAQ:HROW) in a research note released on Monday morning,Benzinga reports. HC Wainwright currently has a $64.00 target price on the stock.

A number of other equities analysts have also recently weighed in on the company. William Blair began coverage on Harrow in a report on Tuesday, June 10th. They set an “outperform” rating on the stock. B. Riley raised their price objective on Harrow from $65.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. BTIG Research reissued a “buy” rating and set a $63.00 price objective on shares of Harrow in a report on Wednesday, September 24th. Craig Hallum raised their price objective on Harrow from $54.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Finally, Cantor Fitzgerald began coverage on Harrow in a report on Friday, July 11th. They set an “overweight” rating and a $76.00 price objective on the stock. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.50.

Harrow Stock Performance

NASDAQ:HROW opened at $48.37 on Monday. The business’s 50-day moving average price is $39.17 and its two-hundred day moving average price is $31.91. Harrow has a twelve month low of $20.85 and a twelve month high of $59.23. The stock has a market cap of $1.79 billion, a P/E ratio of -193.48 and a beta of 0.27. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 0.78.

Harrow (NASDAQ:HROW) last released its quarterly earnings results on Monday, August 11th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.23. Harrow had a negative return on equity of 2.18% and a negative net margin of 4.49%.The firm had revenue of $63.74 million for the quarter, compared to analysts’ expectations of $64.23 million. Harrow has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Harrow will post -0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Harrow

A number of large investors have recently bought and sold shares of HROW. Voya Investment Management LLC increased its stake in Harrow by 4,035.5% in the 1st quarter. Voya Investment Management LLC now owns 381,461 shares of the company’s stock worth $10,147,000 after purchasing an additional 372,237 shares during the period. Diametric Capital LP purchased a new position in Harrow in the 2nd quarter worth approximately $4,748,000. Bank of America Corp DE increased its stake in Harrow by 266.8% in the 2nd quarter. Bank of America Corp DE now owns 213,448 shares of the company’s stock worth $6,519,000 after purchasing an additional 155,258 shares during the period. Divisadero Street Capital Management LP purchased a new position in Harrow in the 2nd quarter worth approximately $4,293,000. Finally, Invesco Ltd. increased its stake in Harrow by 967.6% in the 2nd quarter. Invesco Ltd. now owns 150,948 shares of the company’s stock worth $4,610,000 after purchasing an additional 136,809 shares during the period. 72.76% of the stock is owned by hedge funds and other institutional investors.

About Harrow

Harrow, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company was formerly known as Imprimis Pharmaceuticals, Inc and changed its name to Harrow Health, Inc in December 2018. Harrow Health, Inc was incorporated in 2006 and is headquartered in Nashville, Tennessee.