Harrow (NASDAQ:HROW) Trading Down 4.8% – Time to Sell?

Harrow, Inc. (NASDAQ:HROW)’s share price traded down 4.8% during trading on Thursday . The company traded as low as $42.93 and last traded at $42.92. 323,427 shares were traded during mid-day trading, a decline of 58% from the average session volume of 764,677 shares. The stock had previously closed at $45.07.

Analysts Set New Price Targets

Several brokerages have issued reports on HROW. BTIG Research reissued a “buy” rating and issued a $63.00 price objective on shares of Harrow in a research note on Tuesday, May 12th. Wall Street Zen downgraded Harrow from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings lowered Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. Cantor Fitzgerald dropped their price objective on Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Finally, Zacks Research upgraded shares of Harrow from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.43.

Harrow Trading Down 1.0%

The firm has a market capitalization of $1.58 billion, a P/E ratio of -103.61 and a beta of 0.26. The stock has a 50-day simple moving average of $37.69 and a two-hundred day simple moving average of $41.33. The company has a current ratio of 2.48, a quick ratio of 2.30 and a debt-to-equity ratio of 10.30.

Harrow (NASDAQ:HROW) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.31). Harrow had a positive return on equity of 19.59% and a negative net margin of 5.57%.The firm had revenue of $44.20 million for the quarter, compared to the consensus estimate of $52.43 million. During the same period in the previous year, the company posted ($0.38) EPS. On average, equities research analysts anticipate that Harrow, Inc. will post 0.29 earnings per share for the current year.

Insider Buying and Selling

In other Harrow news, CFO Andrew R. Boll purchased 3,500 shares of Harrow stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $29.90 per share, with a total value of $104,650.00. Following the completion of the transaction, the chief financial officer owned 814,679 shares in the company, valued at approximately $24,358,902.10. This trade represents a 0.43% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Adrienne L. Graves acquired 1,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were acquired at an average price of $31.07 per share, with a total value of $31,070.00. Following the acquisition, the director owned 1,000 shares in the company, valued at approximately $31,070. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 12.80% of the company’s stock.

Institutional Investors Weigh In On Harrow

Several institutional investors have recently added to or reduced their stakes in HROW. Larson Financial Group LLC increased its holdings in shares of Harrow by 13.1% during the fourth quarter. Larson Financial Group LLC now owns 2,446 shares of the company’s stock valued at $120,000 after acquiring an additional 284 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Harrow by 2.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,547 shares of the company’s stock worth $505,000 after purchasing an additional 341 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Harrow by 25.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,800 shares of the company’s stock worth $88,000 after purchasing an additional 369 shares in the last quarter. Captrust Financial Advisors grew its position in Harrow by 0.5% during the 4th quarter. Captrust Financial Advisors now owns 69,959 shares of the company’s stock worth $3,428,000 after purchasing an additional 376 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in Harrow by 1.7% during the 3rd quarter. Alliancebernstein L.P. now owns 29,520 shares of the company’s stock worth $1,422,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

About Harrow

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.