Harrow (NASDAQ:HROW) Given Buy Rating at BTIG Research

Key Points

• BTIG Research reiterated a "Buy" rating on Harrow (NASDAQ:HROW) with a $63 price target, implying roughly a 54.98% upside from the current share price.
• The analyst consensus is a Moderate Buy (eight Buys, two Holds, one Sell) with a consensus target of $69.86, signaling additional upside expectations.
• Harrow recently traded near $40.65 with a market cap of $1.51 billion, a negative P/E, and high institutional ownership (~72.76%), with several funds recently increasing their positions.

Harrow (NASDAQ:HROW - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at BTIG Research in a report issued on Friday,Benzinga reports. They currently have a $63.00 price target on the stock. BTIG Research's target price suggests a potential upside of 54.98% from the stock's current price.

A number of other analysts have also weighed in on HROW. Zacks Research upgraded shares of Harrow from a "strong sell" rating to a "hold" rating in a report on Friday, April 3rd. Nomura lowered shares of Harrow to a "neutral" rating in a report on Wednesday, March 18th. HC Wainwright reiterated a "buy" rating and set a $70.00 target price on shares of Harrow in a report on Thursday, March 19th. B. Riley Financial reiterated a "buy" rating and set a $65.00 target price (down from $74.00) on shares of Harrow in a report on Tuesday, April 7th. Finally, William Blair reiterated an "outperform" rating on shares of Harrow in a report on Tuesday, March 3rd. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $69.86.

Harrow Stock Performance

Harrow stock opened at $40.65 on Friday. The company has a current ratio of 2.20, a quick ratio of 2.06 and a debt-to-equity ratio of 4.67. The firm has a 50-day moving average of $40.82 and a 200-day moving average of $42.65. The firm has a market cap of $1.51 billion, a P/E ratio of -239.10 and a beta of 0.31. Harrow has a 1-year low of $21.12 and a 1-year high of $54.85.

Hedge Funds Weigh In On Harrow

Several hedge funds and other institutional investors have recently modified their holdings of HROW. Royal Bank of Canada increased its position in shares of Harrow by 102.5% during the first quarter. Royal Bank of Canada now owns 9,813 shares of the company's stock valued at $261,000 after buying an additional 4,967 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Harrow by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,146 shares of the company's stock valued at $483,000 after buying an additional 790 shares during the period. Strs Ohio purchased a new position in shares of Harrow during the first quarter valued at about $149,000. Legal & General Group Plc increased its position in shares of Harrow by 12.4% during the second quarter. Legal & General Group Plc now owns 30,753 shares of the company's stock valued at $939,000 after buying an additional 3,384 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Harrow by 9.3% during the second quarter. Rhumbline Advisers now owns 46,969 shares of the company's stock valued at $1,434,000 after buying an additional 3,994 shares during the period. Hedge funds and other institutional investors own 72.76% of the company's stock.

Harrow Company Profile

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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