HC Wainwright Has Positive Outlook of Harrow FY2025 Earnings

Key Points

• HC Wainwright has raised its FY2025 earnings per share (EPS) estimate for Harrow, now predicting earnings of $0.24 per share, a significant increase from the previous estimate of (-$0.21).
• The stock has received multiple upgrades, with analysts giving it an average rating of "Buy" and a price target of $64.67.
• Despite the positive earnings forecast, Harrow's stock opened down 3.0%, with a market cap of $1.44 billion and considerable institutional investor interest.

Harrow, Inc. (NASDAQ:HROW - Free Report) - Stock analysts at HC Wainwright increased their FY2025 earnings per share (EPS) estimates for shares of Harrow in a research report issued to clients and investors on Wednesday, August 13th. HC Wainwright analyst Y. Chen now forecasts that the company will earn $0.24 per share for the year, up from their previous forecast of ($0.21). HC Wainwright has a "Buy" rating and a $64.00 price target on the stock. The consensus estimate for Harrow's current full-year earnings is ($0.53) per share.

Several other brokerages have also recently weighed in on HROW. Zacks Research raised Harrow from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. William Blair assumed coverage on shares of Harrow in a report on Tuesday, June 10th. They issued an "outperform" rating on the stock. Cantor Fitzgerald assumed coverage on shares of Harrow in a report on Friday, July 11th. They issued an "overweight" rating and a $76.00 price objective on the stock. Finally, BTIG Research upped their price objective on shares of Harrow from $62.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $64.67.

Harrow Trading Up 2.5%

HROW traded up $0.96 during midday trading on Monday, reaching $39.12. 618,433 shares of the company's stock traded hands, compared to its average volume of 659,886. The firm has a fifty day moving average of $33.93 and a two-hundred day moving average of $29.16. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -156.48 and a beta of 0.41. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.58. Harrow has a 52 week low of $20.85 and a 52 week high of $59.23.

Harrow (NASDAQ:HROW - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.23. The company had revenue of $63.74 million during the quarter, compared to analysts' expectations of $64.23 million. Harrow had a negative return on equity of 2.18% and a negative net margin of 4.49%. Harrow has set its FY 2025 guidance at EPS.

Institutional Trading of Harrow

A number of institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its position in shares of Harrow by 138.4% during the 4th quarter. Russell Investments Group Ltd. now owns 37,712 shares of the company's stock valued at $1,265,000 after purchasing an additional 21,894 shares during the last quarter. Barclays PLC increased its position in shares of Harrow by 15.1% during the 4th quarter. Barclays PLC now owns 60,550 shares of the company's stock valued at $2,032,000 after purchasing an additional 7,957 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Harrow by 10,500.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 42,400 shares of the company's stock valued at $1,423,000 after purchasing an additional 42,000 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Harrow by 5.7% during the 4th quarter. MetLife Investment Management LLC now owns 18,908 shares of the company's stock valued at $634,000 after purchasing an additional 1,026 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Harrow by 769.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,652 shares of the company's stock valued at $55,000 after buying an additional 1,462 shares in the last quarter. Hedge funds and other institutional investors own 72.76% of the company's stock.

Harrow Company Profile

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.