Harrow (NASDAQ:HROW) Earns “Buy” Rating from BTIG Research

Harrow (NASDAQ:HROW)‘s stock had its “buy” rating restated by equities researchers at BTIG Research in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $63.00 target price on the stock. BTIG Research’s target price indicates a potential upside of 61.43% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a research report on Monday, July 20th. Wall Street Zen cut Harrow from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Cantor Fitzgerald lowered their price target on Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Harrow presently has an average rating of “Moderate Buy” and a consensus target price of $69.43.

Harrow Trading Down 4.1%

HROW traded down $1.67 during midday trading on Tuesday, reaching $39.03. 1,185,677 shares of the company were exchanged, compared to its average volume of 730,402. The stock has a market capitalization of $1.45 billion, a P/E ratio of -94.74 and a beta of 0.28. Harrow has a one year low of $28.54 and a one year high of $54.85. The stock’s 50-day simple moving average is $40.47 and its 200 day simple moving average is $40.02. The company has a debt-to-equity ratio of 10.30, a quick ratio of 2.30 and a current ratio of 2.48.

Harrow (NASDAQ:HROW) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.16). Harrow had a negative net margin of 5.57% and a positive return on equity of 19.59%. The firm had revenue of $70.66 million during the quarter, compared to analyst estimates of $70.35 million. As a group, analysts forecast that Harrow will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Harrow

In other news, Director Adrienne L. Graves bought 1,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director owned 1,000 shares in the company, valued at $31,070. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew R. Boll acquired 3,500 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $29.90 per share, for a total transaction of $104,650.00. Following the transaction, the chief financial officer owned 814,679 shares of the company’s stock, valued at $24,358,902.10. This represents a 0.43% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 12.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HROW. University of Texas Texas AM Investment Management Co. bought a new stake in Harrow during the fourth quarter worth $26,000. KBC Group NV acquired a new position in shares of Harrow during the 1st quarter worth about $31,000. SBI Securities Co. Ltd. raised its holdings in shares of Harrow by 393.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company’s stock valued at $52,000 after purchasing an additional 846 shares during the period. Raymond James Financial Inc. acquired a new stake in Harrow in the 2nd quarter valued at about $48,000. Finally, State of Wyoming acquired a new stake in Harrow in the 2nd quarter valued at about $72,000. 72.76% of the stock is currently owned by 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.