Harrow (NASDAQ:HROW) Releases Earnings Results, Beats Estimates By $0.23 EPS

Key Points

• Harrow (NASDAQ:HROW) reported earnings of $0.24 per share for the quarter, surpassing analysts' expectations by $0.23.
• The company's stock price decreased by $0.69, closing at $33.74, despite a significant trading volume of over 1 million shares.
• Over 72% of Harrow's stock is held by institutional investors, with multiple analysts giving the stock a consensus rating of "Buy" and an average price target of $63.83.

Harrow (NASDAQ:HROW - Get Free Report) issued its earnings results on Monday. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.23, Zacks reports. The firm had revenue of $63.74 million for the quarter, compared to analyst estimates of $64.23 million. Harrow had a negative return on equity of 2.18% and a negative net margin of 4.49%. Harrow updated its FY 2025 guidance to EPS.

Harrow Price Performance

Harrow stock traded down $1.82 during midday trading on Friday, hitting $38.19. 137,702 shares of the company's stock were exchanged, compared to its average volume of 477,483. Harrow has a 52-week low of $20.85 and a 52-week high of $59.23. The stock has a 50-day moving average price of $32.99 and a two-hundred day moving average price of $28.87. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.85 and a current ratio of 0.62. The company has a market cap of $1.41 billion, a P/E ratio of -156.00 and a beta of 0.41.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on HROW shares. HC Wainwright set a $64.00 target price on Harrow and gave the company a "buy" rating in a research note on Wednesday. William Blair began coverage on Harrow in a research report on Tuesday, June 10th. They issued an "outperform" rating for the company. BTIG Research reiterated a "buy" rating and issued a $63.00 price target (up from $62.00) on shares of Harrow in a research report on Thursday. Finally, Cantor Fitzgerald began coverage on Harrow in a research report on Friday, July 11th. They issued an "overweight" rating and a $76.00 price target for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Harrow currently has a consensus rating of "Buy" and a consensus target price of $64.67.

Hedge Funds Weigh In On Harrow

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its position in Harrow by 266.8% during the second quarter. Bank of America Corp DE now owns 213,448 shares of the company's stock worth $6,519,000 after buying an additional 155,258 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Harrow by 967.6% in the 2nd quarter. Invesco Ltd. now owns 150,948 shares of the company's stock worth $4,610,000 after purchasing an additional 136,809 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of Harrow in the 2nd quarter worth about $2,539,000. Rhumbline Advisers boosted its holdings in shares of Harrow by 9.3% in the 2nd quarter. Rhumbline Advisers now owns 46,969 shares of the company's stock worth $1,434,000 after purchasing an additional 3,994 shares in the last quarter. Finally, Engineers Gate Manager LP boosted its holdings in shares of Harrow by 194.7% in the 2nd quarter. Engineers Gate Manager LP now owns 35,565 shares of the company's stock worth $1,086,000 after purchasing an additional 23,495 shares in the last quarter. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

About Harrow

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.