Harrow, Inc. (NASDAQ:HROW – Get Free Report) rose 8.9% during trading on Wednesday . The stock traded as high as $42.33 and last traded at $41.8040. Approximately 591,760 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 751,950 shares. The stock had previously closed at $38.40.
Analyst Ratings Changes
Several research firms recently weighed in on HROW. Cantor Fitzgerald decreased their target price on shares of Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Nomura lowered shares of Harrow to a “neutral” rating in a research report on Wednesday, March 18th. 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 note on Tuesday, April 7th. HC Wainwright reissued a “buy” rating and issued a $70.00 price objective on shares of Harrow in a research report on Thursday, March 19th. Finally, Wall Street Zen downgraded shares of Harrow from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.43.
View Our Latest Stock Analysis on Harrow
Harrow Stock Up 2.2%
Harrow (NASDAQ:HROW – Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.31). The company 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 firm earned ($0.38) earnings per share. As a group, sell-side analysts expect that Harrow, Inc. will post 0.29 EPS for the current year.
Insider Activity
In related news, Director Adrienne L. Graves purchased 1,000 shares of the stock in a transaction on Monday, May 18th. The shares were purchased at an average cost of $31.07 per share, with a total value of $31,070.00. Following the acquisition, the director directly owned 1,000 shares in the company, valued at $31,070. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Andrew R. Boll acquired 3,500 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $29.90 per share, with a total value of $104,650.00. Following the completion of the transaction, the chief financial officer directly owned 814,679 shares of the company’s stock, valued at approximately $24,358,902.10. The trade was a 0.43% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 12.80% of the company’s stock.
Hedge Funds Weigh In On Harrow
Institutional investors and hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC lifted its holdings in Harrow by 13.1% during the 4th quarter. Larson Financial Group LLC now owns 2,446 shares of the company’s stock worth $120,000 after purchasing an additional 284 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Harrow by 2.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,547 shares of the company’s stock valued at $505,000 after buying an additional 341 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 valued at $88,000 after buying an additional 369 shares in the last quarter. Captrust Financial Advisors increased 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 buying an additional 376 shares during the period. Finally, Alliancebernstein L.P. increased 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 buying an additional 500 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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