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

Shares of Harrow, Inc. (NASDAQ:HROW - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $31.37, but opened at $32.57. Harrow shares last traded at $34.97, with a volume of 84,110 shares changing hands.

Analysts Set New Price Targets

Several analysts have commented on HROW shares. BTIG Research began coverage on Harrow in a research note on Thursday, June 12th. They set a "buy" rating and a $62.00 price objective for the company. B. Riley dropped their target price on Harrow from $69.00 to $65.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. William Blair began coverage on Harrow in a report on Tuesday, June 10th. They set an "outperform" rating for the company. Cantor Fitzgerald began coverage on shares of Harrow in a research report on Friday. They issued an "overweight" rating and a $76.00 price objective on the stock. Finally, HC Wainwright upped their price objective on shares of Harrow from $57.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $63.83.

Harrow Price Performance

The stock has a fifty day moving average of $29.03 and a two-hundred day moving average of $28.74. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -63.61 and a beta of 0.41. The company has a quick ratio of 0.85, a current ratio of 0.91 and a debt-to-equity ratio of 2.01.

Harrow (NASDAQ:HROW - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.38) earnings per share (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 net margin of 10.19% and a negative return on equity of 25.01%. On average, equities research analysts anticipate that Harrow, Inc. will post -0.53 earnings per share for the current year.

Institutional Investors Weigh In On Harrow

A number of hedge funds and other institutional investors have recently modified their holdings of HROW. Voya Investment Management LLC boosted its stake in shares of Harrow by 4,035.5% during the 1st quarter. Voya Investment Management LLC now owns 381,461 shares of the company's stock worth $10,147,000 after acquiring an additional 372,237 shares in the last quarter. Rhumbline Advisers raised its holdings in Harrow by 7.2% during the first quarter. Rhumbline Advisers now owns 42,975 shares of the company's stock worth $1,143,000 after purchasing an additional 2,879 shares during the last quarter. Strs Ohio purchased a new stake in Harrow during the first quarter worth $149,000. Dynamic Technology Lab Private Ltd boosted its position in Harrow by 34.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 16,908 shares of the company's stock worth $450,000 after purchasing an additional 4,358 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Harrow by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,146 shares of the company's stock valued at $483,000 after purchasing an additional 790 shares during the last quarter. 72.76% of the stock is currently 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.