Harrow (NASDAQ:HROW) Earns Buy Rating from B. Riley Financial

Key Points

• B. Riley Financial reaffirmed its Buy rating on Harrow and cut its price target to $65 (from $74), a level that implies an estimated 86.59% upside from the prior close.
• Analyst consensus is skewed positive—eight Buys, two Holds and one Sell—resulting in an average rating of “Moderate Buy” and an average target of $69.86.
• Shares traded at $34.84 (down 0.8%) with a market cap of $1.30B, a negative P/E (-205.38) and a high debt-to-equity ratio (4.67), while institutional investors hold about 72.76% of the stock.

Harrow (NASDAQ:HROW - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at B. Riley Financial in a report released on Tuesday,Benzinga reports. They currently have a $65.00 target price on the stock, down from their previous target price of $74.00. B. Riley Financial's price target would indicate a potential upside of 86.59% from the stock's previous close.

HROW has been the subject of a number of other reports. Weiss Ratings restated a "sell (e+)" rating on shares of Harrow in a research report on Thursday, January 22nd. Zacks Research upgraded shares of Harrow from a "strong sell" rating to a "hold" rating in a research report on Friday. Cantor Fitzgerald decreased their price objective on shares of Harrow from $94.00 to $91.00 and set an "overweight" rating for the company in a research report on Wednesday, March 4th. HC Wainwright reissued a "buy" rating and set a $70.00 target price on shares of Harrow in a research note on Thursday, March 19th. Finally, William Blair restated an "outperform" rating on shares of Harrow in a report on Tuesday, March 3rd. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $69.86.

Harrow Trading Down 0.8%

Shares of Harrow stock traded down $0.30 during trading on Tuesday, hitting $34.84. The company's stock had a trading volume of 148,882 shares, compared to its average volume of 724,815. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -205.38 and a beta of 0.31. Harrow has a 52 week low of $20.85 and a 52 week high of $54.85. The stock has a 50-day moving average price of $41.90 and a two-hundred day moving average price of $43.11. The company has a debt-to-equity ratio of 4.67, a current ratio of 2.20 and a quick ratio of 2.06.

Institutional Investors Weigh In On Harrow

A number of large investors have recently bought and sold shares of HROW. Vanguard Group Inc. increased its position in Harrow by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 1,921,683 shares of the company's stock valued at $94,162,000 after buying an additional 50,889 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Harrow by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 785,089 shares of the company's stock valued at $38,477,000 after acquiring an additional 9,445 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Harrow by 31.5% during the second quarter. Marshall Wace LLP now owns 564,876 shares of the company's stock valued at $17,251,000 after acquiring an additional 135,202 shares in the last quarter. Penn Capital Management Company LLC raised its position in shares of Harrow by 20.5% during the fourth quarter. Penn Capital Management Company LLC now owns 392,067 shares of the company's stock worth $19,257,000 after purchasing an additional 66,589 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Harrow by 32.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 370,548 shares of the company's stock worth $18,159,000 after purchasing an additional 90,331 shares in the last quarter. 72.76% of the stock is currently owned by institutional investors and hedge funds.

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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