Harrow (NASDAQ:HROW) Shares Gap Up - Still a Buy?

Key Points

• Harrow, Inc. (NASDAQ:HROW) experienced a gap up in share price, opening at $49.54 compared to a previous close of $47.10, with recent trades at $49.77.
• Multiple brokerages have set new price targets for Harrow, with estimates ranging from $63.00 to $76.00, and a consensus rating of "Moderate Buy".
• The company reported an earnings per share (EPS) of $0.24 for the last quarter, exceeding the consensus estimate significantly while forecasting a projected EPS of -0.53 for the current year.

Harrow, Inc. (NASDAQ:HROW - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $47.10, but opened at $49.54. Harrow shares last traded at $49.77, with a volume of 306,656 shares.

Analysts Set New Price Targets

Several brokerages have commented on HROW. B. Riley raised their target price on shares of Harrow from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. Zacks Research cut shares of Harrow from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 12th. Lake Street Capital raised their target price on shares of Harrow from $42.00 to $70.00 and gave the company a "buy" rating in a research note on Monday. BTIG Research reaffirmed a "buy" rating and set a $63.00 price objective on shares of Harrow in a research report on Wednesday, September 24th. Finally, Cantor Fitzgerald initiated coverage on shares of Harrow in a research report on Friday, July 11th. They set an "overweight" rating and a $76.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $67.83.

Harrow Stock Performance

The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -195.40 and a beta of 0.33. The company has a 50 day simple moving average of $38.47 and a 200 day simple moving average of $31.50.

Harrow (NASDAQ:HROW - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.01 by $0.23. The firm had revenue of $63.74 million during the quarter, compared to the consensus estimate 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, equities research analysts forecast that Harrow, Inc. will post -0.53 EPS for the current year.

Institutional Trading of Harrow

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Harrow during the first quarter worth about $32,000. Raymond James Financial Inc. bought a new stake in Harrow in the second quarter valued at approximately $48,000. Tower Research Capital LLC TRC boosted its holdings in Harrow by 345.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,373 shares of the company's stock valued at $103,000 after acquiring an additional 2,615 shares during the last quarter. State of Wyoming bought a new stake in Harrow in the first quarter valued at approximately $97,000. Finally, Strs Ohio bought a new stake in Harrow in the first quarter valued at approximately $149,000. 72.76% of the stock is currently owned by 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.

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