Analysts Set Harrow, Inc. (NASDAQ:HROW) Price Target at $63.83

Key Points

• Harrow, Inc. has received a consensus recommendation of "Buy" from seven brokerages, with an average 1-year price target of $63.83.
• Institutional investors currently own 72.76% of Harrow's stock, with several large investors increasing their stakes during the second quarter.
• The company reported a quarterly earnings loss of ($0.38) per share, missing the consensus estimate by ($0.40), with revenue of $47.83 million, below the expected $57 million.

Harrow, Inc. (NASDAQ:HROW - Get Free Report) has earned an average rating of "Buy" from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $63.83.

HROW has been the topic of a number of recent research reports. HC Wainwright raised their target price on Harrow from $57.00 to $60.00 and gave the company a "buy" rating in a report on Monday, May 12th. BTIG Research began coverage on Harrow in a report on Thursday, June 12th. They set a "buy" rating and a $62.00 price target on the stock. William Blair began coverage on Harrow in a report on Tuesday, June 10th. They set an "outperform" rating on the stock. Finally, Cantor Fitzgerald began coverage on Harrow in a report on Friday, July 11th. They set an "overweight" rating and a $76.00 price target on the stock.

Harrow Stock Down 1.7%

Shares of HROW stock traded down $0.53 during trading hours on Friday, reaching $31.23. The company had a trading volume of 530,570 shares, compared to its average volume of 442,110. Harrow has a 12 month low of $20.85 and a 12 month high of $59.23. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.91 and a quick ratio of 0.85. The business has a fifty day simple moving average of $31.76 and a 200-day simple moving average of $28.78. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -55.77 and a beta of 0.41.

Harrow (NASDAQ:HROW - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.38) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.40). Harrow had a negative net margin of 10.19% and a negative return on equity of 25.01%. The company had revenue of $47.83 million during the quarter, compared to the consensus estimate of $57.00 million. On average, research analysts expect that Harrow will post -0.53 earnings per share for the current fiscal year.

Institutional Trading of Harrow

Hedge funds have recently bought and sold shares of the business. GF Fund Management CO. LTD. bought a new stake in shares of Harrow in the fourth quarter valued at $25,000. Quarry LP bought a new stake in shares of Harrow in the first quarter valued at $32,000. Tower Research Capital LLC TRC raised its stake in shares of 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 buying an additional 1,462 shares during the period. Aquatic Capital Management LLC bought a new stake in shares of Harrow in the fourth quarter valued at $78,000. Finally, State of Wyoming bought a new stake in shares of Harrow in the first quarter valued at $97,000. 72.76% of the stock is currently owned by institutional investors.

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.