Braidwell LP Has $25.45 Million Stake in Harrow, Inc. $HROW

Key Points

• Braidwell LP increased its stake in Harrow, Inc. by 5.5%, owning approximately 2.61% of the company, worth around $25.45 million after acquiring additional shares.
• A number of institutional investors, including Two Sigma Investments LP and Deutsche Bank AG, have also raised their positions significantly in Harrow, contributing to a total institutional ownership of 72.76%.
• Harrow reported earnings of $0.24 per share, surpassing estimates, but with a revenue of $63.74 million slightly below expectations, and analysts predict a challenging fiscal year ahead with an EPS forecast of -0.53.

Braidwell LP lifted its stake in shares of Harrow, Inc. (NASDAQ:HROW - Free Report) by 5.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 956,839 shares of the company's stock after acquiring an additional 49,800 shares during the period. Braidwell LP owned approximately 2.61% of Harrow worth $25,452,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new position in Harrow in the fourth quarter valued at $25,000. Quarry LP bought a new position in Harrow in the first quarter valued at $32,000. Tower Research Capital LLC TRC grew its position in Harrow by 769.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,652 shares of the company's stock valued at $55,000 after purchasing an additional 1,462 shares in the last quarter. Aquatic Capital Management LLC bought a new position in Harrow in the fourth quarter valued at $78,000. Finally, State of Wyoming bought a new position in Harrow in the first quarter valued at $97,000. Institutional investors own 72.76% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Harrow in a research report on Friday, July 11th. They issued an "overweight" rating and a $76.00 target price for the company. HC Wainwright increased their price target on shares of Harrow from $60.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. William Blair assumed coverage on shares of Harrow in a research note on Tuesday, June 10th. They issued an "outperform" rating for the company. Zacks Research upgraded shares of Harrow from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Finally, BTIG Research increased their price target on shares of Harrow from $62.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $64.67.

Harrow Price Performance

Shares of Harrow stock traded down $1.14 during midday trading on Thursday, hitting $36.20. 369,879 shares of the company traded hands, compared to its average volume of 480,696. The firm's fifty day moving average price is $35.17 and its 200-day moving average price is $29.60. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.58 and a current ratio of 0.62. Harrow, Inc. has a 12 month low of $20.85 and a 12 month high of $59.23. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -144.80 and a beta of 0.33.

Harrow (NASDAQ:HROW - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.01 by $0.23. The business had revenue of $63.74 million for the quarter, compared to the consensus estimate of $64.23 million. Harrow had a negative net margin of 4.49% and a negative return on equity of 2.18%. Harrow has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Harrow, Inc. will post -0.53 earnings per share for the current year.

About Harrow

Harrow, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company was formerly known as Imprimis Pharmaceuticals, Inc and changed its name to Harrow Health, Inc in December 2018. Harrow Health, Inc was incorporated in 2006 and is headquartered in Nashville, Tennessee.