HC Wainwright Reaffirms Buy Rating for Harrow (NASDAQ:HROW)

Key Points

• HC Wainwright has reissued a buy rating for Harrow (NASDAQ:HROW) with a target price of $64.00, indicating a 35.88% potential upside from its previous close.
• Harrow's recent quarterly earnings surpassed expectations, reporting an EPS of $0.24, significantly above the consensus estimate of $0.01, despite a revenue of $63.74 million which fell short of the $64.23 million estimate.
• Currently, 72.76% of Harrow's stock is owned by hedge funds and institutional investors, showcasing strong interest in the company from larger financial entities.

Harrow (NASDAQ:HROW - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $64.00 target price on the stock. HC Wainwright's target price indicates a potential upside of 35.88% from the company's previous close.

Other equities analysts also recently issued research reports about the company. William Blair started coverage on Harrow in a research report on Tuesday, June 10th. They issued an "outperform" rating on the stock. Cantor Fitzgerald started coverage on Harrow in a report on Friday, July 11th. They issued an "overweight" rating and a $76.00 target price for the company. BTIG Research reiterated a "buy" rating and issued a $63.00 target price on shares of Harrow in a report on Wednesday, September 24th. Craig Hallum upped their target price on Harrow from $54.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. Finally, B. Riley upped their target price on Harrow from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. 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, the company has an average rating of "Moderate Buy" and a consensus target price of $65.33.

Harrow Stock Performance

Shares of Harrow stock opened at $47.10 on Monday. The stock's fifty day moving average is $38.47 and its two-hundred day moving average is $31.50. The company has a market capitalization of $1.74 billion, a PE ratio of -188.40 and a beta of 0.33. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 0.78. Harrow has a 52 week low of $20.85 and a 52 week high of $59.23.

Harrow (NASDAQ:HROW - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported $0.24 EPS for the quarter, beating the consensus estimate 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 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, analysts expect that Harrow will post -0.53 earnings per share for the current year.

Institutional Investors Weigh In On Harrow

Hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Harrow during the 1st quarter worth $32,000. Raymond James Financial Inc. purchased a new stake in shares of Harrow during the 2nd quarter worth $48,000. Tower Research Capital LLC TRC lifted its stake in shares of Harrow by 345.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,373 shares of the company's stock worth $103,000 after purchasing an additional 2,615 shares during the last quarter. State of Wyoming purchased a new stake in shares of Harrow during the 1st quarter worth $97,000. Finally, Strs Ohio purchased a new stake in Harrow in the first quarter valued at about $149,000. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

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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