Rice Hall James & Associates LLC Takes Position in Harrow, Inc. $HROW

Key Points

• Rice Hall James & Associates acquired 387,545 Harrow shares worth approximately $16.46 million, representing a 1.04% stake. Institutional investors collectively own 72.76% of the company.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and an average price target of $69.43; individual ratings range from “Strong Sell” to “Buy.”
• Harrow reported quarterly revenue of $70.66 million, slightly above estimates, but its adjusted loss of $0.46 per share missed expectations. The stock opened at $39.47, down 1.4%, while insider Amir Shojaei sold $450,000 worth of shares.

Rice Hall James & Associates LLC bought a new position in Harrow, Inc. (NASDAQ:HROW - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 387,545 shares of the company's stock, valued at approximately $16,459,000. Rice Hall James & Associates LLC owned 1.04% of Harrow at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Harrow by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 1,921,683 shares of the company's stock valued at $94,162,000 after acquiring an additional 50,889 shares during the period. Luxor Capital Group LP grew its holdings in Harrow by 22.0% in the first quarter. Luxor Capital Group LP now owns 1,119,400 shares of the company's stock worth $39,470,000 after purchasing an additional 201,859 shares during the period. Geode Capital Management LLC grew its holdings in Harrow by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 785,089 shares of the company's stock worth $38,477,000 after purchasing an additional 9,445 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Harrow by 56.4% during the first quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company's stock valued at $20,428,000 after purchasing an additional 208,972 shares in the last quarter. Finally, Penn Capital Management Company LLC increased its stake in shares of Harrow by 20.5% during the fourth quarter. Penn Capital Management Company LLC now owns 392,067 shares of the company's stock valued at $19,257,000 after purchasing an additional 66,589 shares in the last quarter. 72.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on HROW shares. Weiss Ratings reissued a "sell (e+)" rating on shares of Harrow in a research report on Monday, July 20th. Cantor Fitzgerald reduced their price objective on Harrow from $91.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, May 13th. Zacks Research cut Harrow from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 11th. BTIG Research reissued a "buy" rating and issued a $63.00 target price on shares of Harrow in a report on Tuesday, August 11th. Finally, Wall Street Zen raised Harrow from a "sell" rating to a "hold" rating in a report on Saturday. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $69.43.

Insiders Place Their Bets

In related news, insider Amir Shojaei sold 11,250 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $40.00, for a total value of $450,000.00. Following the transaction, 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 hyperlink. 12.80% of the stock is currently owned by insiders.

Harrow Stock Down 1.4%

NASDAQ:HROW opened at $39.47 on Tuesday. The company has a debt-to-equity ratio of 19.70, a quick ratio of 2.08 and a current ratio of 2.24. The firm has a market cap of $1.48 billion, a P/E ratio of -39.47 and a beta of 0.28. Harrow, Inc. has a fifty-two week low of $28.54 and a fifty-two week high of $54.85. The firm has a 50-day simple moving average of $41.07 and a two-hundred day simple moving average of $39.83.

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 the consensus estimate of ($0.18) by ($0.28). Harrow had a negative return on equity of 38.00% and a negative net margin of 13.51%.The firm had revenue of $70.66 million during the quarter, compared to the consensus estimate of $70.35 million. Analysts predict that Harrow, Inc. will post 0.11 earnings per share for the current fiscal year.

About Harrow

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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