Harrow, Inc. (NASDAQ:HROW) Given Consensus Recommendation of “Moderate Buy” by Analysts

Harrow, Inc. (NASDAQ:HROW) has been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $68.50.

Several brokerages have issued reports on HROW. Zacks Research lowered Harrow from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. HC Wainwright restated a “buy” rating and issued a $64.00 target price on shares of Harrow in a research report on Monday, September 29th. BTIG Research restated a “buy” rating and issued a $63.00 target price on shares of Harrow in a research report on Wednesday, September 24th. B. Riley restated a “buy” rating and issued a $74.00 price objective (up from $70.00) on shares of Harrow in a report on Wednesday, October 1st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a report on Wednesday, October 8th.

Harrow Stock Performance

Shares of HROW opened at $39.36 on Wednesday. Harrow has a 12-month low of $20.85 and a 12-month high of $59.23. The company has a market cap of $1.46 billion, a PE ratio of -157.44 and a beta of 0.27. 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 50-day moving average price of $40.52 and a 200-day moving average price of $32.81.

Harrow (NASDAQ:HROW) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $0.03 earnings per share (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 during the quarter. Harrow has set its Q2 2023 guidance at EPS. As a group, equities analysts forecast that Harrow will post -0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harrow

A number of hedge funds and other institutional investors have recently modified their holdings of HROW. Voya Investment Management LLC lifted its position in 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 purchasing an additional 372,237 shares during the last quarter. Diametric Capital LP bought a new stake in Harrow during the 2nd quarter valued at $4,748,000. Bank of America Corp DE raised its holdings in Harrow by 266.8% during the 2nd quarter. Bank of America Corp DE now owns 213,448 shares of the company’s stock valued at $6,519,000 after buying an additional 155,258 shares during the last quarter. Divisadero Street Capital Management LP bought a new position in shares of Harrow during the second quarter valued at about $4,293,000. Finally, Invesco Ltd. raised its stake in shares of Harrow by 967.6% during the second quarter. Invesco Ltd. now owns 150,948 shares of the company’s stock valued at $4,610,000 after acquiring an additional 136,809 shares during the last quarter. Institutional investors own 72.76% of the company’s stock.

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.