Harrow (NASDAQ:HROW) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Harrow from “hold” to “strong sell,” while Wall Street Zen also issued a “sell” rating. However, the broader analyst consensus remains “Moderate Buy,” with a $69.43 average price target.
• Harrow shares opened at $39.36, near their 50-day and 200-day moving averages, and remain well below the 12-month high of $54.85. The company’s latest quarterly EPS loss of $0.46 missed the $0.18 consensus estimate, despite revenue slightly exceeding expectations.
• Institutional investors own 72.76% of Harrow, while insiders hold 12.8%; a company director recently purchased 1,000 shares at $31.07 each.

Harrow (NASDAQ:HROW - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Tuesday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Wall Street Zen lowered Harrow from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Harrow in a research note on Monday, July 20th. BTIG Research restated a "buy" rating and issued a $63.00 price objective on shares of Harrow in a research note on Tuesday. Finally, Cantor Fitzgerald decreased their target price on shares of Harrow from $91.00 to $88.00 and set an "overweight" rating for the company in a research note on Wednesday, May 13th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.43.

Harrow Stock Down 0.2%

HROW stock opened at $39.36 on Tuesday. The stock has a market cap of $1.48 billion, a P/E ratio of -39.36 and a beta of 0.28. The company has a current ratio of 2.48, a quick ratio of 2.30 and a debt-to-equity ratio of 10.30. Harrow has a twelve month low of $28.54 and a twelve month high of $54.85. The company's 50 day moving average is $40.72 and its two-hundred day moving average is $39.92.

Harrow (NASDAQ:HROW - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.28). The company had revenue of $70.66 million during the quarter, compared to analyst estimates of $69.84 million. Harrow had a negative net margin of 13.51% and a negative return on equity of 31.83%. Research analysts expect that Harrow will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Harrow

In other news, Director Adrienne L. Graves acquired 1,000 shares of the business's stock in a transaction on Monday, May 18th. The stock was bought at an average price of $31.07 per share, for a total transaction of $31,070.00. Following the transaction, the director owned 1,000 shares in the company, valued at $31,070. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 12.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Harrow in the fourth quarter valued at about $26,000. KBC Group NV acquired a new position in Harrow during the 1st quarter worth approximately $31,000. Raymond James Financial Inc. purchased a new position in shares of Harrow during the 2nd quarter worth approximately $48,000. SBI Securities Co. Ltd. raised its stake in shares of Harrow by 393.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company's stock worth $52,000 after buying an additional 846 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of Harrow in the 2nd quarter valued at approximately $72,000. 72.76% of the stock is currently owned by institutional investors and hedge funds.

About Harrow

Harrow Health, Inc NASDAQ: HROW is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.

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