Harrow (NASDAQ:HROW) Receives Buy Rating from BTIG Research

Key Points

• BTIG Research reiterated a buy rating on Harrow and set a $63 price target, implying about 41.7% upside from the current share price.
• Analyst sentiment is still generally positive overall, with eight Buy ratings versus two Holds and one Sell; MarketBeat shows an average rating of Moderate Buy and an average target of $69.43.
• Harrow recently reported a wider-than-expected quarterly loss of ($0.74) per share on $44.2 million in revenue, while shares were trading down 4.7% to $44.45 in Tuesday trading.

Harrow (NASDAQ:HROW - Get Free Report)'s stock had its "buy" rating restated by investment analysts at BTIG Research in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $63.00 price target on the stock. BTIG Research's price target points to a potential upside of 41.73% from the company's current price.

Several other research analysts have also recently weighed in on the company. Wall Street Zen cut Harrow from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. B. Riley Financial reaffirmed a "buy" rating and set a $65.00 target price (down from $74.00) on shares of Harrow in a research report on Tuesday, April 7th. Zacks Research upgraded Harrow from a "strong sell" rating to a "hold" rating in a research note on Friday, April 3rd. Cantor Fitzgerald cut their price target on shares of Harrow from $91.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, May 13th. Finally, Weiss Ratings downgraded shares of Harrow from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, April 22nd. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $69.43.

Harrow Trading Down 4.7%

NASDAQ:HROW opened at $44.45 on Tuesday. The company has a debt-to-equity ratio of 10.30, a quick ratio of 2.30 and a current ratio of 2.48. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -108.41 and a beta of 0.26. Harrow has a 52 week low of $28.54 and a 52 week high of $54.85. The firm has a 50-day moving average price of $38.20 and a two-hundred day moving average price of $41.01.

Harrow (NASDAQ:HROW - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.31). The business had revenue of $44.20 million during the quarter, compared to analysts' expectations of $52.43 million. Harrow had a positive return on equity of 19.59% and a negative net margin of 5.57%.During the same quarter in the previous year, the firm earned ($0.38) EPS. On average, equities analysts expect that Harrow will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Adrienne L. Graves acquired 1,000 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average price of $31.07 per share, with a total value of $31,070.00. Following the acquisition, the director owned 1,000 shares in the company, valued at $31,070. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Andrew R. Boll acquired 3,500 shares of the company's stock in a transaction on Thursday, May 14th. The shares were acquired at an average cost of $29.90 per share, for a total transaction of $104,650.00. Following the completion of the acquisition, the chief financial officer owned 814,679 shares of the company's stock, valued at approximately $24,358,902.10. The trade was a 0.43% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 12.80% of the company's stock.

Institutional Trading of Harrow

Institutional investors have recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. purchased a new position in Harrow in the 4th quarter valued at approximately $26,000. KBC Group NV purchased a new stake in shares of Harrow during the first quarter worth $31,000. SBI Securities Co. Ltd. boosted its holdings in shares of Harrow by 393.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company's stock worth $52,000 after acquiring an additional 846 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Harrow in the second quarter valued at $48,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Harrow by 25.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,800 shares of the company's stock valued at $88,000 after purchasing an additional 369 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.