Harrow (NASDAQ:HROW) Reaches New 12-Month High – Here’s Why

Shares of Harrow, Inc. (NASDAQ:HROW) reached a new 52-week high during trading on Monday . The company traded as high as $52.93 and last traded at $51.9220, with a volume of 246416 shares trading hands. The stock had previously closed at $49.91.

Analyst Ratings Changes

Several research firms recently commented on HROW. Zacks Research cut Harrow from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. BTIG Research reaffirmed a “buy” rating and issued a $63.00 target price on shares of Harrow in a research note on Wednesday, September 24th. Craig Hallum lifted their price target on Harrow from $54.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $94.00 price objective on shares of Harrow in a report on Tuesday, November 11th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a research report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.43.

Harrow Price Performance

The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -509.95 and a beta of 0.02. The company has a current ratio of 2.72, a quick ratio of 2.52 and a debt-to-equity ratio of 5.21. The company’s fifty day moving average is $43.40 and its two-hundred day moving average is $39.81.

Harrow (NASDAQ:HROW) last released its quarterly earnings results on Monday, November 10th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. The business had revenue of $71.64 million during the quarter, compared to analyst estimates of $73.70 million. Harrow had a positive return on equity of 28.71% and a negative net margin of 1.99%. As a group, research analysts predict that Harrow, Inc. will post -0.53 earnings per share for the current year.

Institutional Trading of Harrow

Several hedge funds have recently made changes to their positions in HROW. Royal Bank of Canada grew its holdings in shares of Harrow by 102.5% in the first quarter. Royal Bank of Canada now owns 9,813 shares of the company’s stock valued at $261,000 after purchasing an additional 4,967 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Harrow by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,146 shares of the company’s stock worth $483,000 after acquiring an additional 790 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its stake in shares of Harrow by 34.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 16,908 shares of the company’s stock worth $450,000 after acquiring an additional 4,358 shares in the last quarter. Strs Ohio purchased a new stake in shares of Harrow during the first quarter worth $149,000. Finally, Rhumbline Advisers raised its stake 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 acquiring an additional 2,879 shares in the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

Harrow Company Profile

Harrow Health, Inc (NASDAQ: HROW) is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.