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

Key Points

• Analysts: Harrow has a consensus recommendation of Moderate Buy from 11 brokerages (8 buys, 2 holds, 1 sell) with an average 1‑year target of $69.86.
• Valuation and trading: Shares opened at $35.43 and trade in a 52‑week range of $20.85–$54.85; market cap is about $1.32B, P/E is negative (−208.4), with a current ratio of 2.20 but a high debt/equity of 4.67.
• Institutional interest: Hedge funds and other institutions own roughly 72.76% of HROW, with new or increased positions reported by Penn Capital, Blackhawk Capital, Brookstone, Calamos and LJI Wealth.

Harrow, Inc. (NASDAQ:HROW - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eleven research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $69.8571.

Several brokerages have issued reports on HROW. Weiss Ratings restated a "sell (e+)" rating on shares of Harrow in a report on Thursday, January 22nd. Cantor Fitzgerald dropped their target price on Harrow from $94.00 to $91.00 and set an "overweight" rating for the company in a report on Wednesday, March 4th. HC Wainwright restated a "buy" rating and issued a $70.00 target price on shares of Harrow in a report on Thursday, March 19th. William Blair restated an "outperform" rating on shares of Harrow in a report on Tuesday, March 3rd. Finally, B. Riley Financial reiterated a "buy" rating and set a $65.00 price target (down from $74.00) on shares of Harrow in a report on Tuesday.

Harrow Stock Up 0.9%

Shares of NASDAQ:HROW opened at $35.43 on Wednesday. The company has a quick ratio of 2.06, a current ratio of 2.20 and a debt-to-equity ratio of 4.67. The business has a fifty day moving average of $41.75 and a two-hundred day moving average of $43.05. The stock has a market cap of $1.32 billion, a P/E ratio of -208.40 and a beta of 0.31. Harrow has a 52-week low of $20.85 and a 52-week high of $54.85.

Hedge Funds Weigh In On Harrow

Hedge funds have recently modified their holdings of the business. Blackhawk Capital Partners LLC purchased a new position in shares of Harrow during the 3rd quarter worth $5,272,000. Penn Capital Management Company LLC purchased a new position in shares of Harrow during the 3rd quarter worth $15,717,000. Brookstone Capital Management grew its holdings in shares of Harrow by 232.5% during the 3rd quarter. Brookstone Capital Management now owns 45,775 shares of the company's stock worth $2,205,000 after purchasing an additional 32,009 shares during the period. Calamos Advisors LLC purchased a new position in shares of Harrow during the 3rd quarter worth $1,088,000. Finally, LJI Wealth Management LLC purchased a new position in shares of Harrow during the 3rd quarter worth $1,445,000. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

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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