Harrow (NASDAQ:HROW) Stock Price Expected to Rise, B. Riley Analyst Says

Key Points

• B. Riley analysts have raised their price target for Harrow (NASDAQ:HROW) from $65.00 to $70.00, indicating a potential upside of 42.46% from its previous close.
• Harrow's stock has experienced significant price movement, trading up by $3.05 to reach $49.14, with a current market capitalization of $1.82 billion.
• The company reported $0.24 earnings per share for the last quarter, greatly exceeding analysts' expectations of $0.01, despite revenue falling slightly short of predictions.

Harrow (NASDAQ:HROW - Get Free Report) had its target price lifted by investment analysts at B. Riley from $65.00 to $70.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. B. Riley's price target points to a potential upside of 42.46% from the company's previous close.

A number of other research analysts have also issued reports on HROW. Craig Hallum boosted their price target on Harrow from $54.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday. William Blair assumed coverage on Harrow in a research report on Tuesday, June 10th. They set an "outperform" rating on the stock. HC Wainwright upped their target price on Harrow from $60.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Zacks Research downgraded Harrow from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 12th. Finally, BTIG Research increased their target price on Harrow from $62.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.33.

Harrow Price Performance

Harrow stock traded up $3.05 during midday trading on Tuesday, reaching $49.14. The company's stock had a trading volume of 615,162 shares, compared to its average volume of 493,196. Harrow has a fifty-two week low of $20.85 and a fifty-two week high of $59.23. 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 stock's 50 day simple moving average is $37.49 and its 200 day simple moving average is $30.80. The firm has a market capitalization of $1.82 billion, a PE ratio of -196.02 and a beta of 0.33.

Harrow (NASDAQ:HROW - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.23. The business had revenue of $63.74 million during the quarter, compared to analysts' expectations 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. On average, equities research analysts forecast that Harrow will post -0.53 earnings per share for the current year.

Hedge Funds Weigh In On Harrow

A number of institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas raised its position in Harrow by 4.1% in the second quarter. Teacher Retirement System of Texas now owns 8,478 shares of the company's stock worth $259,000 after acquiring an additional 332 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Harrow by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,547 shares of the company's stock worth $505,000 after purchasing an additional 341 shares during the period. Pale Fire Capital SE boosted its stake in shares of Harrow by 6.8% during the 2nd quarter. Pale Fire Capital SE now owns 8,683 shares of the company's stock worth $265,000 after purchasing an additional 550 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Harrow by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,356 shares of the company's stock valued at $582,000 after buying an additional 585 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Harrow in the 4th quarter valued at about $25,000. 72.76% of the stock is owned by 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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