Harrow's (HROW) Buy Rating Reaffirmed at BTIG Research

Key Points

• BTIG Research has reaffirmed a "buy" rating on Harrow's stock with a price target of $63.00, indicating a potential upside of 28.97% from its current price.
• Harrow reported a quarterly earnings per share (EPS) of $0.24, exceeding estimates of $0.01, though revenue of $63.74 million slightly fell short of expectations.
• Institutional investors own 72.76% of Harrow's stock, with significant increases in holdings from firms like Voya Investment Management and UBS.

Harrow (NASDAQ:HROW - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at BTIG Research in a report released on Wednesday,Benzinga reports. They presently have a $63.00 price objective on the stock. BTIG Research's price objective suggests a potential upside of 28.97% from the stock's current price.

A number of other brokerages also recently issued reports on HROW. Cantor Fitzgerald began coverage on shares of Harrow in a report on Friday, July 11th. They issued an "overweight" rating and a $76.00 price target on the stock. William Blair began coverage on shares of Harrow in a report on Tuesday, June 10th. They issued an "outperform" rating on the stock. HC Wainwright boosted their target price on shares of Harrow from $60.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Craig Hallum boosted their target price on shares of Harrow from $54.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Zacks Research downgraded shares of Harrow from a "strong-buy" rating to a "hold" rating in a report on Friday, September 12th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $65.33.

Harrow Stock Up 6.0%

HROW opened at $48.85 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.58 and a current ratio of 0.62. Harrow has a fifty-two week low of $20.85 and a fifty-two week high of $59.23. The firm's fifty day moving average is $37.78 and its 200 day moving average is $30.92. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -195.40 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.23. The company had revenue of $63.74 million for the quarter, compared to the consensus estimate of $64.23 million. Harrow had a negative net margin of 4.49% and a negative return on equity of 2.18%. Harrow has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Harrow will post -0.53 earnings per share for the current fiscal year.

Institutional Trading of Harrow

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Harrow by 89.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,940 shares of the company's stock worth $2,078,000 after buying an additional 29,262 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Harrow by 2,401.2% in the first quarter. GAMMA Investing LLC now owns 6,278 shares of the company's stock valued at $1,670,000 after buying an additional 6,027 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Harrow by 30.5% in the first quarter. HighTower Advisors LLC now owns 13,217 shares of the company's stock valued at $352,000 after buying an additional 3,090 shares during the last quarter. Voya Investment Management LLC raised its position in shares of Harrow by 4,035.5% in the first quarter. Voya Investment Management LLC now owns 381,461 shares of the company's stock valued at $10,147,000 after buying an additional 372,237 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Harrow by 7.2% in the first quarter. Rhumbline Advisers now owns 42,975 shares of the company's stock valued at $1,143,000 after buying an additional 2,879 shares during the last quarter. Institutional investors and hedge funds 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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