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

Harrow, Inc. (NASDAQ:HROW - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $30.15, but opened at $30.99. Harrow shares last traded at $30.60, with a volume of 113,110 shares traded.

Wall Street Analyst Weigh In

HROW has been the topic of several research analyst reports. HC Wainwright boosted their price target on Harrow from $57.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, May 12th. William Blair initiated coverage on Harrow in a report on Tuesday. They set an "outperform" rating for the company. Finally, B. Riley dropped their target price on Harrow from $69.00 to $65.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $61.25.

Harrow Stock Performance

The firm's fifty day simple moving average is $25.68 and its 200 day simple moving average is $29.83. The company has a market capitalization of $1.17 billion, a PE ratio of -33.91 and a beta of 0.40. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.55 and a quick ratio of 1.44.

Harrow (NASDAQ:HROW - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.38) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.40). The company had revenue of $47.83 million during the quarter, compared to analysts' expectations of $57.00 million. Harrow had a negative return on equity of 45.57% and a negative net margin of 19.75%. On average, research analysts predict that Harrow, Inc. will post -0.53 EPS for the current year.

Institutional Investors Weigh In On Harrow

Several hedge funds have recently bought and sold shares of the stock. Barclays PLC lifted its stake in shares of Harrow by 301.9% in the 3rd quarter. Barclays PLC now owns 52,593 shares of the company's stock valued at $2,365,000 after purchasing an additional 39,506 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Harrow by 89.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,940 shares of the company's stock worth $2,078,000 after acquiring an additional 29,262 shares during the period. Northern Trust Corp boosted its stake in shares of Harrow by 7.5% during the 4th quarter. Northern Trust Corp now owns 319,084 shares of the company's stock worth $10,705,000 after acquiring an additional 22,266 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Harrow by 769.5% during the 4th 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, Bank of New York Mellon Corp grew its position in shares of Harrow by 8.4% during the 4th quarter. Bank of New York Mellon Corp now owns 86,447 shares of the company's stock valued at $2,900,000 after acquiring an additional 6,690 shares during the period. Hedge funds and other institutional investors own 72.76% of the company's stock.

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.