Harrow (NASDAQ:HROW) Stock Keeps Buy Rating at BTIG Research

Harrow (NASDAQ:HROW - Get Free Report)'s stock had its "buy" rating restated by research analysts at BTIG Research in a research note issued on Wednesday, Benzinga reports. They currently have a $63.00 target price on the stock. BTIG Research's price objective would suggest a potential upside of 107.58% from the company's previous close.

HROW has been the topic of a number of other research reports. Zacks Research upgraded shares of Harrow from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 9th. Leerink Partners began coverage on shares of Harrow in a research report on Wednesday, September 9th. They set an "outperform" rating and a $45.00 price objective on the stock. Wall Street Zen upgraded shares of Harrow from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Harrow in a report on Monday, July 20th. Seven 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $66.17.

Harrow Stock Performance

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

Harrow (NASDAQ:HROW - Get Free Report) last issued 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). The business had revenue of $70.66 million during the quarter, compared to the consensus estimate of $70.35 million. Harrow had a negative return on equity of 38.00% and a negative net margin of 13.51%.

Insiders Place Their Bets

In related news, insider Amir Shojaei sold 11,250 shares of the company's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $40.00, for a total value of $450,000.00. Following the sale, the insider owned 11,250 shares of the company's stock, 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 SEC, which is available through this hyperlink. 12.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Harrow

A number of large investors have recently modified their holdings of HROW. Engineers Gate Manager LP bought a new position in Harrow in the second quarter valued at approximately $358,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Harrow during the second quarter worth $425,000. FirstWave Capital Management LLC raised its holdings in shares of 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 acquiring an additional 68,058 shares during the period. Pale Fire Capital SE raised its holdings in shares of Harrow by 23.5% during the second quarter. Pale Fire Capital SE now owns 10,515 shares of the company's stock worth $447,000 after acquiring an additional 2,000 shares during the period. Finally, Grandeur Peak Global Advisors LLC acquired a new stake in shares of Harrow during the second quarter worth $610,000. 72.76% of the stock is currently owned by institutional investors and hedge funds.

Harrow Company Profile

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.