Harrow (NASDAQ:HROW) Trading 7.3% Higher - Should You Buy?

Key Points

• Harrow, Inc. (NASDAQ:HROW) shares rose 7.3% during mid-day trading, reaching a last price of $42.31 from a previous close of $39.42, with a trading volume of 479,101 shares.
• Analysts are optimistic about Harrow, with a consensus rating of "Buy" and a target price of $64.67, following several upgrades from different financial institutions.
• Harrow reported quarterly earnings of $0.24 EPS, significantly exceeding analyst estimates of $0.01, while total revenue for the quarter was slightly below expectations at $63.74 million.

Harrow, Inc. (NASDAQ:HROW - Get Free Report)'s stock price traded up 7.3% during mid-day trading on Monday . The stock traded as high as $42.23 and last traded at $42.31. 479,101 shares changed hands during mid-day trading, a decline of 0% from the average session volume of 480,625 shares. The stock had previously closed at $39.42.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. HC Wainwright increased their price objective on Harrow from $60.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. BTIG Research raised their price target on Harrow from $62.00 to $63.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Zacks Research cut Harrow from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. Cantor Fitzgerald assumed coverage on Harrow in a research report on Friday, July 11th. They issued an "overweight" rating and a $76.00 price target for the company. Finally, William Blair assumed coverage on Harrow in a research report on Tuesday, June 10th. They issued an "outperform" rating for the company. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $64.67.

Harrow Trading Down 2.3%

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 $1.64 billion, a price-to-earnings ratio of -177.36 and a beta of 0.33. The business has a 50 day moving average of $37.28 and a 200 day moving average of $30.58.

Harrow (NASDAQ:HROW - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported $0.24 EPS for the quarter, beating 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. On average, research analysts forecast that Harrow, Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Trading of Harrow

A number of hedge funds have recently added to or reduced their stakes in the business. Braidwell LP boosted its stake in Harrow by 5.5% in the 1st quarter. Braidwell LP now owns 956,839 shares of the company's stock worth $25,452,000 after buying an additional 49,800 shares during the last quarter. Geode Capital Management LLC boosted its stake in Harrow by 4.7% in the 2nd quarter. Geode Capital Management LLC now owns 810,803 shares of the company's stock worth $24,765,000 after buying an additional 36,724 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Harrow by 31.5% in the 2nd quarter. Marshall Wace LLP now owns 564,876 shares of the company's stock worth $17,251,000 after purchasing an additional 135,202 shares during the period. Voya Investment Management LLC raised its holdings in shares of Harrow by 4,035.5% in the 1st quarter. Voya Investment Management LLC now owns 381,461 shares of the company's stock worth $10,147,000 after purchasing an additional 372,237 shares during the period. Finally, Royce & Associates LP raised its holdings in shares of Harrow by 12.0% in the 1st quarter. Royce & Associates LP now owns 327,096 shares of the company's stock worth $8,701,000 after purchasing an additional 35,006 shares during the period. 72.76% of the stock is owned by institutional investors and hedge funds.

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.