Harrow (NASDAQ:HROW) Shares Gap Up - Here's Why

Key Points

• Harrow, Inc. shares surged nearly 10% at the open on Monday, rising from a previous close of $36.99 to $38.80, and later trading at $40.55 with significant volume.
• Analysts are optimistic about Harrow, with multiple firms issuing "buy" ratings and a consensus price target of $64.67, indicating strong market confidence in the company's future growth.
• The company recently reported $0.24 EPS, exceeding expectations, while setting a FY 2025 guidance amidst continuing investment interest from various institutions.

Shares of Harrow, Inc. (NASDAQ:HROW - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $36.99, but opened at $38.80. Harrow shares last traded at $40.55, with a volume of 173,797 shares.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald initiated coverage on shares of Harrow in a research note on Friday, July 11th. They issued an "overweight" rating and a $76.00 target price for the company. Zacks Research raised Harrow from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. William Blair started coverage on Harrow in a research note on Tuesday, June 10th. They issued an "outperform" rating on the stock. HC Wainwright upped their price objective on Harrow from $60.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Finally, BTIG Research upped their target price on Harrow from $62.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. According to data from MarketBeat.com, Harrow currently has a consensus rating of "Buy" and a consensus price target of $64.67.

Harrow Trading Up 7.6%

The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -160.63 and a beta of 0.33. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.58 and a current ratio of 0.62. The business has a 50 day moving average of $35.29 and a two-hundred day moving average of $29.64.

Harrow (NASDAQ:HROW - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.01 by $0.23. Harrow had a negative return on equity of 2.18% and a negative net margin of 4.49%.The firm had revenue of $63.74 million for the quarter, compared to the consensus estimate of $64.23 million. Harrow has set its FY 2025 guidance at EPS. Equities analysts predict that Harrow, Inc. will post -0.53 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in HROW. GF Fund Management CO. LTD. acquired a new position in shares of Harrow in the 4th quarter valued at $25,000. Quarry LP acquired a new position in shares of Harrow in the 1st quarter valued at $32,000. Raymond James Financial Inc. bought a new stake in shares of Harrow during the second quarter worth approximately $48,000. Tower Research Capital LLC TRC raised its position in Harrow by 769.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,652 shares of the company's stock worth $55,000 after acquiring an additional 1,462 shares in the last quarter. Finally, State of Wyoming acquired a new stake in Harrow during the first quarter worth about $97,000. 72.76% of the stock is owned by hedge funds and other institutional investors.

Harrow Company Profile

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.

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