Harrow, Inc. (NASDAQ:HROW) Receives Consensus Recommendation of "Buy" from Brokerages

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.

Shares of Harrow, Inc. (NASDAQ:HROW - Get Free Report) have earned an average rating of "Buy" from the seven analysts that are currently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have covered the stock in the last year is $63.8333.

A number of equities analysts recently commented on HROW shares. BTIG Research initiated coverage on Harrow in a research report on Thursday, June 12th. They set a "buy" rating and a $62.00 price objective on the stock. Cantor Fitzgerald initiated coverage on Harrow in a research note on Friday, July 11th. They issued an "overweight" rating and a $76.00 price objective for the company. HC Wainwright lifted their price objective on Harrow from $57.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Finally, William Blair assumed coverage on Harrow in a research note on Tuesday, June 10th. They issued an "outperform" rating for the company.

Harrow Price Performance

HROW stock traded down $0.37 during mid-day trading on Friday, reaching $33.05. 127,678 shares of the company's stock were exchanged, compared to its average volume of 454,678. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -59.02 and a beta of 0.41. The stock's 50 day moving average is $31.92 and its 200 day moving average is $28.74. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.91 and a quick ratio of 0.85. Harrow has a 12-month low of $20.85 and a 12-month high of $59.23.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HROW. Braidwell LP grew its stake in shares of Harrow by 106.3% during the fourth quarter. Braidwell LP now owns 907,039 shares of the company's stock valued at $30,431,000 after acquiring an additional 467,401 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Harrow by 4,035.5% during the first quarter. Voya Investment Management LLC now owns 381,461 shares of the company's stock valued at $10,147,000 after acquiring an additional 372,237 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Harrow by 483.2% during the fourth quarter. Two Sigma Investments LP now owns 150,355 shares of the company's stock valued at $5,044,000 after acquiring an additional 124,574 shares in the last quarter. Neuberger Berman Group LLC grew its stake in shares of Harrow by 128.0% during the fourth quarter. Neuberger Berman Group LLC now owns 200,529 shares of the company's stock valued at $6,728,000 after acquiring an additional 112,588 shares in the last quarter. Finally, Trexquant Investment LP grew its stake in shares of Harrow by 1,806.8% during the fourth quarter. Trexquant Investment LP now owns 94,500 shares of the company's stock valued at $3,170,000 after acquiring an additional 89,544 shares in the last quarter. 72.76% of the stock is owned by hedge funds and other institutional investors.

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.