Harrow (NASDAQ:HROW) Raised to “Strong-Buy” at Leerink Partners

Harrow (NASDAQ:HROW) was upgraded by equities research analysts at Leerink Partners to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks reports.

Several other research analysts have also recently issued reports on the company. Zacks Research cut Harrow from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a research report on Monday, July 20th. BTIG Research reaffirmed a “buy” rating and set a $63.00 price target on shares of Harrow in a research note on Tuesday, August 11th. Wall Street Zen raised shares of Harrow from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Cantor Fitzgerald cut their price target on shares of Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.38.

Harrow Stock Performance

Shares of HROW stock opened at $37.55 on Wednesday. The stock has a market capitalization of $1.41 billion, a PE ratio of -37.55 and a beta of 0.24. Harrow has a 52-week low of $28.54 and a 52-week high of $54.85. The stock’s 50-day moving average price is $40.60 and its 200 day moving average price is $38.91. The company has a quick ratio of 2.08, a current ratio of 2.24 and a debt-to-equity ratio of 19.70.

Harrow (NASDAQ:HROW) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.28). The firm had revenue of $70.66 million for the quarter, compared to analysts’ expectations of $70.35 million. Harrow had a negative return on equity of 38.00% and a negative net margin of 13.51%.

Insider Buying and Selling at Harrow

In related news, insider Amir Shojaei sold 11,250 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $40.00, for a total value of $450,000.00. Following the completion of the transaction, the insider directly owned 11,250 shares of the company’s stock, valued at $450,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Harrow

A number of institutional investors have recently bought and sold shares of HROW. Royal Bank of Canada boosted its position in Harrow by 102.5% during the first quarter. Royal Bank of Canada now owns 9,813 shares of the company’s stock worth $261,000 after purchasing an additional 4,967 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Harrow by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,146 shares of the company’s stock worth $483,000 after buying an additional 790 shares during the last quarter. Strs Ohio acquired a new position in shares of Harrow during the 1st quarter worth $149,000. Legal & General Group Plc boosted its position in shares of Harrow by 12.4% in the 2nd quarter. Legal & General Group Plc now owns 30,753 shares of the company’s stock worth $939,000 after buying an additional 3,384 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Harrow by 9.3% in the 2nd quarter. Rhumbline Advisers now owns 46,969 shares of the company’s stock worth $1,434,000 after buying an additional 3,994 shares in the last quarter. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

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.