Harrow (NASDAQ:HROW) Trading 3.9% Higher - Should You Buy?

Key Points

• Harrow, Inc.'s stock price increased by 3.9% on Friday, closing at $39.38, significantly below its trading volume average.
• Multiple analysts maintain a buy rating for Harrow, with price targets ranging from $63.00 to $76.00, while the stock currently holds an average rating of "Moderate Buy".
• Harrow reported revenue of $22.12 million last quarter, with a negative net margin of 4.49% and forecasts an earnings per share of -0.53 for the current year.

Harrow, Inc. (NASDAQ:HROW - Get Free Report)'s share price shot up 3.9% on Friday . The stock traded as high as $39.50 and last traded at $39.38. 204,094 shares were traded during mid-day trading, a decline of 62% from the average session volume of 534,034 shares. The stock had previously closed at $37.92.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. BTIG Research reaffirmed a "buy" rating and issued a $63.00 price target on shares of Harrow in a research note on Wednesday, September 24th. HC Wainwright reissued a "buy" rating and issued a $64.00 price objective on shares of Harrow in a research note on Monday, September 29th. Zacks Research lowered shares of Harrow from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 12th. Cantor Fitzgerald initiated coverage on Harrow in a report on Friday, July 11th. They set an "overweight" rating and a $76.00 price target on the stock. Finally, B. Riley restated a "buy" rating and issued a $74.00 target price (up from $70.00) on shares of Harrow in a research note on Wednesday, October 1st. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $68.50.

Harrow Trading Up 4.8%

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 firm has a market cap of $1.47 billion, a PE ratio of -159.50 and a beta of 0.27. The firm has a 50 day moving average of $40.74 and a 200 day moving average of $32.93.

Harrow (NASDAQ:HROW - Get Free Report) last announced its quarterly earnings results on Tuesday, July 18th. The company reported $0.03 EPS for the quarter. Harrow had a negative net margin of 4.49% and a negative return on equity of 2.18%. The company had revenue of $22.12 million for the quarter. Harrow has set its Q2 2023 guidance at EPS. Equities analysts anticipate that Harrow, Inc. will post -0.53 earnings per share for the current year.

Institutional Investors Weigh In On Harrow

Large investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in shares of Harrow in the 1st quarter valued at about $32,000. Raymond James Financial Inc. bought a new position in shares of Harrow in the second quarter worth approximately $48,000. State of Wyoming bought a new position in shares of Harrow in the first quarter worth approximately $97,000. Tower Research Capital LLC TRC grew its stake in Harrow by 345.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,373 shares of the company's stock worth $103,000 after buying an additional 2,615 shares in the last quarter. Finally, Strs Ohio purchased a new position in Harrow in the 1st quarter worth approximately $149,000. Institutional investors own 72.76% of the company's stock.

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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