Harrow (NASDAQ:HROW) Shares Gap Up - Time to Buy?

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.

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 changing hands.

Analyst Ratings Changes

HROW has been the topic of a number of research reports. William Blair initiated coverage on Harrow in a report on Tuesday, June 10th. They issued an "outperform" rating on the stock. BTIG Research increased their target price on Harrow from $62.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. HC Wainwright increased their target price on Harrow from $60.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Cantor Fitzgerald started coverage on Harrow in a report on Friday, July 11th. They set an "overweight" rating and a $76.00 target price on the stock. Finally, Zacks Research raised Harrow from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. Based on data from MarketBeat, Harrow currently has an average rating of "Buy" and an average price target of $64.67.

Harrow Stock Down 0.1%

The firm has a 50 day moving average of $36.12 and a two-hundred day moving average of $30.00. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -157.68 and a beta of 0.33. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 0.78.

Harrow (NASDAQ:HROW - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.23. The business 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 has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Harrow, Inc. will post -0.53 EPS for the current fiscal year.

Institutional Trading of Harrow

Several large investors have recently bought and sold shares of the business. Braidwell LP boosted its stake in Harrow by 5.5% in the first quarter. Braidwell LP now owns 956,839 shares of the company's stock valued at $25,452,000 after buying an additional 49,800 shares in the last quarter. Geode Capital Management LLC raised its position in Harrow by 4.7% in the second quarter. Geode Capital Management LLC now owns 810,803 shares of the company's stock valued at $24,765,000 after purchasing an additional 36,724 shares during the last quarter. Marshall Wace LLP raised its position in Harrow by 31.5% in the second quarter. Marshall Wace LLP now owns 564,876 shares of the company's stock valued at $17,251,000 after purchasing an additional 135,202 shares during the last quarter. Voya Investment Management LLC raised its position in Harrow by 4,035.5% in the first quarter. Voya Investment Management LLC now owns 381,461 shares of the company's stock valued at $10,147,000 after purchasing an additional 372,237 shares during the last quarter. Finally, Royce & Associates LP raised its position in Harrow by 12.0% in the first quarter. Royce & Associates LP now owns 327,096 shares of the company's stock valued at $8,701,000 after purchasing an additional 35,006 shares during the last quarter. 72.76% of the stock is owned by institutional investors and hedge funds.

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.