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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Harrow, with seven buys, two holds and one sell among 10 ratings. The average 12-month price target is $66.17, well above the stock’s $28.44 opening price.
• Institutional ownership stands at 72.76%, with major investors including BlackRock, Bamco and Jupiter Topco initiating sizable positions. Insider Amir Shojaei sold 11,250 shares at $40, reducing his ownership by 50%.
• Harrow’s latest quarter showed revenue of $70.66 million, slightly exceeding estimates, but adjusted earnings of negative $0.46 per share missed expectations of negative $0.18. The stock remains near its 52-week low and has negative profitability metrics.

Harrow, Inc. (NASDAQ:HROW - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the ten ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $66.17.

Several equities analysts have recently commented on the company. Leerink Partners started coverage on Harrow in a research note on Wednesday, September 9th. They set an "outperform" rating and a $45.00 price target on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Harrow in a research note on Friday, October 16th. BTIG Research reiterated a "buy" rating and set a $63.00 target price on shares of Harrow in a report on Wednesday, October 7th. Zacks Research raised shares of Harrow from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 9th. Finally, Wall Street Zen upgraded shares of Harrow from a "sell" rating to a "hold" rating in a report on Saturday, August 15th.

Insider Buying and Selling

In related news, insider Amir Shojaei sold 11,250 shares of the business's 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 transaction, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 12.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Harrow in the 2nd quarter valued at about $116,373,000. Bamco Inc. NY purchased a new position in shares of Harrow in the 2nd quarter worth approximately $34,373,000. Jupiter Topco LLC bought a new position in shares of Harrow during the 2nd quarter worth approximately $24,596,000. Rice Hall James & Associates LLC bought a new position in shares of Harrow during the 2nd quarter worth approximately $16,459,000. Finally, Dimensional Fund Advisors LP raised 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 in the last quarter. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

Harrow Trading Up 1.0%

HROW opened at $28.44 on Friday. The stock's fifty day moving average is $33.97 and its two-hundred day moving average is $37.05. The company has a market capitalization of $1.07 billion, a P/E ratio of -28.44 and a beta of 0.19. Harrow has a 52 week low of $26.96 and a 52 week high of $54.85. The company has a quick ratio of 2.08, a current ratio of 2.24 and a debt-to-equity ratio of 19.70.

Harrow (NASDAQ:HROW - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.46) earnings per share 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 firm had revenue of $70.66 million for the quarter, compared to the consensus estimate of $70.35 million.

Harrow Company Profile

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.

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