Harrow’s (HROW) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Harrow (NASDAQ:HROW) in a report released on Wednesday,Benzinga reports. BTIG Research currently has a $63.00 price target on the stock.

Other research analysts have also recently issued reports about the stock. Zacks Research raised shares of Harrow from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a report on Monday, July 20th. Wall Street Zen raised shares of Harrow from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Leerink Partners initiated coverage on shares of Harrow in a research note on Wednesday, September 9th. They set an “outperform” rating and a $45.00 target price for the company. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Harrow has an average rating of “Moderate Buy” and a consensus price target of $66.17.

Harrow Price Performance

NASDAQ HROW opened at $29.36 on Wednesday. Harrow has a one year low of $27.00 and a one year high of $54.85. The stock has a 50-day moving average of $36.29 and a 200 day moving average of $37.53. 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 has a market capitalization of $1.10 billion, a price-to-earnings ratio of -29.36 and a beta of 0.19.

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

Insider Activity

In other Harrow news, insider Amir Shojaei sold 11,250 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $40.00, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Harrow

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Harrow during the second quarter valued at approximately $116,373,000. Luxor Capital Group LP raised its position in Harrow by 22.0% in the first quarter. Luxor Capital Group LP now owns 1,119,400 shares of the company’s stock worth $39,470,000 after acquiring an additional 201,859 shares during the period. Bamco Inc. NY bought a new position in Harrow in the second quarter worth approximately $34,373,000. Jupiter Topco LLC purchased a new position in shares of Harrow during the 2nd quarter worth $24,596,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Harrow by 56.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company’s stock worth $20,428,000 after acquiring an additional 208,972 shares during the last quarter. Hedge funds and other 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.