Harrow (NASDAQ:HROW) Trading 7.1% Higher After Analyst Upgrade

Key Points

• Harrow, Inc.'s stock price increased by 7.1% after Craig Hallum raised its price target from $54.00 to $64.00, maintaining a buy rating on the stock.
• Institutional investors own 72.76% of Harrow's shares, with significant positions being adjusted by firms like Teacher Retirement System of Texas and The Manufacturers Life Insurance Company.
• Harrow reported $0.24 earnings per share in its most recent quarter, exceeding analysts' expectations, although it forecasted a negative EPS of -0.53 for the current fiscal year.

Harrow, Inc. (NASDAQ:HROW - Get Free Report)'s share price shot up 7.1% during mid-day trading on Tuesday after Craig Hallum raised their price target on the stock from $54.00 to $64.00. Craig Hallum currently has a buy rating on the stock. Harrow traded as high as $50.05 and last traded at $49.38. 182,400 shares were traded during trading, a decline of 63% from the average session volume of 490,351 shares. The stock had previously closed at $46.09.

A number of other research analysts have also recently commented on the stock. BTIG Research raised their price target on shares of Harrow from $62.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. William Blair initiated coverage on shares of Harrow in a research note on Tuesday, June 10th. They issued an "outperform" rating on the stock. Zacks Research cut shares of Harrow from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. Cantor Fitzgerald began coverage on shares of Harrow in a research report on Friday, July 11th. They issued an "overweight" rating and a $76.00 price target on the stock. Finally, HC Wainwright lifted their target price on shares of Harrow from $60.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Harrow currently has an average rating of "Moderate Buy" and a consensus price target of $64.50.

Institutional Investors Weigh In On Harrow

Institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas lifted its position in shares of Harrow by 4.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,478 shares of the company's stock valued at $259,000 after acquiring an additional 332 shares during the period. The Manufacturers Life Insurance Company boosted its position in Harrow by 2.1% in the second 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 last quarter. Pale Fire Capital SE raised 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. grew its position in Harrow by 3.5% during the fourth 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 during the period. Finally, GF Fund Management CO. LTD. bought a new stake in Harrow in the fourth quarter worth about $25,000. Institutional investors own 72.76% of the company's stock.

Harrow Stock Up 7.9%

The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $1.84 billion, a P/E ratio of -199.00 and a beta of 0.33. The stock's 50-day moving average price is $37.49 and its two-hundred day moving average price is $30.80.

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

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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