Shares of Harrow, Inc. (NASDAQ:HROW – Get Free Report) have received an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $69.4286.
Several analysts have recently commented on the stock. Nomura lowered shares of Harrow to a “neutral” rating in a research report on Wednesday, March 18th. William Blair reiterated an “outperform” rating on shares of Harrow in a research report on Tuesday, March 3rd. BTIG Research reiterated a “buy” rating and issued a $63.00 price target on shares of Harrow in a research report on Tuesday, May 12th. B. Riley Financial reiterated a “buy” rating and issued a $65.00 price target (down from $74.00) on shares of Harrow in a research report on Tuesday, April 7th. Finally, Weiss Ratings lowered shares of Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 22nd.
Read Our Latest Analysis on HROW
Harrow Stock Up 0.8%
Harrow (NASDAQ:HROW – Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.31). The business had revenue of $44.20 million during the quarter, compared to analyst estimates of $52.43 million. Harrow had a negative net margin of 5.57% and a positive return on equity of 19.59%. During the same quarter in the prior year, the company earned ($0.38) earnings per share. Equities analysts expect that Harrow will post 0.29 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director Adrienne L. Graves bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were purchased at an average price of $31.07 per share, for a total transaction of $31,070.00. Following the completion of the transaction, the director owned 1,000 shares in the company, valued at $31,070. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew R. Boll bought 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average price 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. The trade was a 0.43% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 12.80% of the stock is currently owned by company insiders.
Institutional Trading of Harrow
Hedge funds have recently bought and sold shares of the company. Penn Capital Management Company LLC acquired a new stake in Harrow during the third quarter worth approximately $15,717,000. Luxor Capital Group LP purchased a new position in Harrow during the third quarter worth approximately $14,807,000. Lumbard & Kellner LLC purchased a new position in Harrow during the third quarter worth approximately $4,281,000. New York State Common Retirement Fund raised its stake in Harrow by 1,944.7% during the third quarter. New York State Common Retirement Fund now owns 213,789 shares of the company’s stock worth $10,300,000 after purchasing an additional 203,333 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in Harrow by 807.4% during the fourth quarter. State of Alaska Department of Revenue now owns 15,807 shares of the company’s stock worth $774,000 after purchasing an additional 14,065 shares during the period. 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.
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