Harrow, Inc. (NASDAQ:HROW) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Harrow has an average analyst rating of “Moderate Buy” from 11 analysts, with eight buy ratings, two holds, and one sell; the average 12-month price target is about $69.43.
• The stock rose 4.5% and opened at $44.88, but the company’s latest earnings missed expectations, reporting a loss of $0.74 per share versus the expected $0.43 loss and revenue of $44.2 million versus estimates of $52.43 million.
• There was notable insider buying, including purchases by CFO Andrew R. Boll and Director Adrienne L. Graves, while institutional investors own a large share of the stock at 72.76%.

Harrow, Inc. (NASDAQ:HROW - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eleven analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $69.4286.

HROW has been the topic of a number of research reports. Wall Street Zen lowered shares of Harrow from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Cantor Fitzgerald lowered their price target on shares of Harrow from $91.00 to $88.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. Weiss Ratings cut shares of Harrow from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, April 22nd. BTIG Research restated a "buy" rating and set a $63.00 price objective on shares of Harrow in a research note on Tuesday, May 12th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $70.00 target price on shares of Harrow in a research report on Thursday, March 19th.

Harrow Stock Up 4.5%

HROW stock opened at $44.88 on Friday. The company has a debt-to-equity ratio of 10.30, a current ratio of 2.48 and a quick ratio of 2.30. The stock has a market capitalization of $1.67 billion, a P/E ratio of -109.46 and a beta of 0.26. Harrow has a fifty-two week low of $28.54 and a fifty-two week high of $54.85. The business has a 50-day moving average of $37.90 and a 200-day moving average of $41.08.

Harrow (NASDAQ:HROW - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.31). Harrow had a negative net margin of 5.57% and a positive return on equity of 19.59%. The firm had revenue of $44.20 million during the quarter, compared to analyst estimates of $52.43 million. During the same period in the prior year, the business posted ($0.38) EPS. On average, sell-side analysts anticipate that Harrow will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Andrew R. Boll acquired 3,500 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $29.90 per share, with a total value of $104,650.00. Following the acquisition, the chief financial officer owned 814,679 shares in the company, valued at $24,358,902.10. This represents a 0.43% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Adrienne L. Graves bought 1,000 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average cost of $31.07 per share, with a total value of $31,070.00. Following the completion of the purchase, the director directly owned 1,000 shares of the company's stock, valued at $31,070. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 12.80% of the stock is owned by company insiders.

Institutional Trading of Harrow

Several institutional investors and hedge funds have recently added to or reduced their stakes in HROW. Militia Capital Management LLC acquired a new stake in Harrow in the first quarter valued at $829,000. California State Teachers Retirement System raised its holdings in shares of Harrow by 26.6% in the 1st quarter. California State Teachers Retirement System now owns 39,019 shares of the company's stock valued at $1,376,000 after purchasing an additional 8,198 shares during the period. Quantinno Capital Management LP raised its holdings in shares of Harrow by 34.1% in the 1st quarter. Quantinno Capital Management LP now owns 7,199 shares of the company's stock valued at $254,000 after purchasing an additional 1,829 shares during the period. Corsair Capital Management L.P. lifted its stake in Harrow by 90.0% in the 1st quarter. Corsair Capital Management L.P. now owns 19,000 shares of the company's stock valued at $670,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Luxor Capital Group LP grew its holdings in Harrow by 22.0% during 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. 72.76% of the stock is owned by institutional investors.

Harrow Company Profile

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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