Harrow, Inc. (NASDAQ:HROW) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately positive: Eight of 11 analysts rate Harrow a “buy,” while two recommend holding and one recommends selling. The average 12-month price target is $69.43, well above the stock’s reported $40.70 price.
• Recent earnings fell short on profitability: Harrow reported quarterly revenue of $70.66 million, slightly above estimates, but its $0.34 loss per share was worse than the expected $0.18 loss.
• Insiders and institutions continue to hold significant stakes: Company insiders own 12.80% of shares, while institutional investors own 72.76%; the CFO and a director also recently purchased Harrow shares.

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

Several analysts have recently commented on HROW shares. Wall Street Zen cut shares of Harrow from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. BTIG Research reiterated a "buy" rating and issued a $63.00 price objective on shares of Harrow in a research report on Tuesday, July 21st. Cantor Fitzgerald dropped their target price on Harrow from $91.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, May 13th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Harrow in a research report on Monday, July 20th.

Insider Transactions at Harrow

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

Institutional Investors Weigh In On Harrow

Several large investors have recently modified their holdings of HROW. University of Texas Texas AM Investment Management Co. bought a new position in shares of Harrow during the 4th quarter worth approximately $26,000. KBC Group NV bought a new stake in shares of Harrow in the first quarter worth $31,000. SBI Securities Co. Ltd. boosted its holdings in Harrow by 393.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company's stock worth $52,000 after purchasing an additional 846 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Harrow during the second quarter worth $48,000. Finally, State of Wyoming bought a new position in Harrow in the second quarter valued at $72,000. 72.76% of the stock is currently owned by institutional investors.

Harrow Stock Performance

Harrow stock opened at $40.70 on Tuesday. The stock has a 50-day simple moving average of $40.47 and a 200 day simple moving average of $40.02. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -99.27 and a beta of 0.28. The company has a quick ratio of 2.30, a current ratio of 2.48 and a debt-to-equity ratio of 10.30. Harrow has a 12-month low of $28.54 and a 12-month high of $54.85.

Harrow (NASDAQ:HROW - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.34) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.16). Harrow had a positive return on equity of 19.59% and a negative net margin of 5.57%.The company had revenue of $70.66 million for the quarter, compared to the consensus estimate of $70.35 million. On average, research analysts anticipate that Harrow will post 0.29 earnings per share for the current fiscal year.

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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