Harrow, Inc. (NASDAQ:HROW) Stock Now Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Harrow has a consensus “Moderate Buy” rating from 10 analysts, with seven buys, two holds and one sell. The average 12-month price target is $66.17, well above the stock’s reported $31.40 price.
• Harrow’s latest quarter showed mixed results: revenue of $70.66 million slightly exceeded estimates, but adjusted EPS of negative $0.46 missed the consensus estimate of negative $0.18.
• Institutional investors own 72.76% of the company, while insiders own 12.80%; an insider recently sold 11,250 shares for $450,000. The stock remains near its 52-week low and has negative net margin and return on equity.

Shares of Harrow, Inc. (NASDAQ:HROW - Get Free Report) have earned a consensus rating of "Moderate Buy" from the ten ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $66.17.

Several equities analysts have weighed in on HROW shares. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Harrow in a research note on Monday, July 20th. Zacks Research raised Harrow from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 9th. BTIG Research reiterated a "buy" rating and set a $63.00 price objective on shares of Harrow in a report on Tuesday, August 11th. Wall Street Zen raised 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 report on Wednesday, September 9th. They set an "outperform" rating and a $45.00 target price for the company.

Insider Activity

In other Harrow news, insider Amir Shojaei sold 11,250 shares of the company'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 directly owned 11,250 shares in the company, valued at approximately $450,000. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.80% of the stock is owned by corporate insiders.

Institutional Trading of Harrow

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP bought a new position in shares of Harrow during the second quarter valued at about $358,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Harrow during the 2nd quarter valued at $425,000. FirstWave Capital Management LLC grew its holdings in Harrow by 47.3% during the second quarter. FirstWave Capital Management LLC now owns 211,981 shares of the company's stock valued at $9,003,000 after purchasing an additional 68,058 shares during the period. Pale Fire Capital SE grew its holdings in Harrow by 23.5% during the 2nd quarter. Pale Fire Capital SE now owns 10,515 shares of the company's stock valued at $447,000 after buying an additional 2,000 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC purchased a new position in shares of Harrow in the 2nd quarter worth $610,000. 72.76% of the stock is owned by institutional investors.

Harrow Stock Down 0.6%

Shares of NASDAQ HROW opened at $31.40 on Wednesday. Harrow has a 52-week low of $28.54 and a 52-week high of $54.85. The firm has a fifty day moving average of $37.75 and a 200-day moving average of $37.78. 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 stock has a market capitalization of $1.18 billion, a PE ratio of -31.40 and a beta of 0.24.

Harrow (NASDAQ:HROW - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $70.66 million for the quarter, compared to analysts' expectations of $70.35 million. Harrow had a negative net margin of 13.51% and a negative return on equity of 38.00%.

About Harrow

Harrow, Inc is an ophthalmic pharmaceutical company focused on developing, acquiring, and commercializing products for the treatment of eye conditions and for use in ophthalmic procedures. The company serves ophthalmologists, optometrists, ambulatory surgery centers, and other eye-care providers, primarily in the United States.

Harrow's portfolio includes VEVYE, a cyclosporine ophthalmic emulsion indicated for the treatment of signs and symptoms of dry eye disease, and IHEEZO, a chloroprocaine hydrochloride ophthalmic gel used to provide topical ocular anesthesia during ophthalmic procedures.

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