Harrow, Inc. (NASDAQ:HROW) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is moderately positive: Eleven brokerages give Harrow a consensus “Moderate Buy” rating, with eight buys, one hold and two sells. The average 12-month price target is $69.43 versus a recent price of $38.54.
• Harrow reported quarterly revenue of $70.66 million, slightly above expectations, but its adjusted loss of $0.46 per share was substantially wider than the $0.18 loss analysts anticipated. The company also posted negative net margins and return on equity.
• Insider activity was negative: Insider Amir Shojaei sold 11,250 shares for $450,000, reducing his position by 50%. Institutional investors collectively own 72.76% of Harrow’s outstanding stock.

Shares of Harrow, Inc. (NASDAQ:HROW - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eleven ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $69.4286.

Several equities research analysts have recently commented on HROW shares. Wall Street Zen upgraded Harrow from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. BTIG Research reiterated a "buy" rating and set a $63.00 target price on shares of Harrow in a research report on Tuesday, August 11th. Cantor Fitzgerald cut their price target on Harrow from $91.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, May 13th. Weiss Ratings reissued a "sell (e+)" rating on shares of Harrow in a report on Monday, July 20th. Finally, Zacks Research cut Harrow from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th.

Harrow Stock Performance

HROW opened at $38.54 on Friday. The company's 50 day moving average is $40.85 and its 200 day moving average is $39.23. The company has a current ratio of 2.24, a quick ratio of 2.08 and a debt-to-equity ratio of 19.70. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -38.54 and a beta of 0.24. Harrow has a 12-month low of $28.54 and a 12-month high of $54.85.

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

Insider Activity

In related news, insider Amir Shojaei sold 11,250 shares of the 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 of the company's stock, valued at approximately $450,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 12.80% of the company's stock.

Hedge Funds Weigh In On Harrow

Several large investors have recently added to or reduced their stakes in HROW. University of Texas Texas AM Investment Management Co. bought a new position in shares of Harrow in the fourth quarter worth approximately $26,000. KBC Group NV bought a new stake in shares of Harrow during the 1st quarter valued at $31,000. SBI Securities Co. Ltd. raised its position in shares of Harrow by 393.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company's stock valued at $52,000 after purchasing an additional 846 shares during the period. First Bancorp Inc ME purchased a new position in shares of Harrow during the 2nd quarter valued at $64,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Harrow during the 2nd quarter valued at $48,000. Hedge funds and other institutional investors own 72.76% of the company's stock.

Harrow Company Profile

Harrow Health, Inc NASDAQ: HROW is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.

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