Harrow (NASDAQ:HROW) Downgraded to “Strong Sell” Rating by Zacks Research

Harrow (NASDAQ:HROWGet Free Report) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a research report on Monday, July 20th. BTIG Research reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Harrow in a research note on Tuesday. Cantor Fitzgerald reduced 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, Wall Street Zen cut Harrow from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.43.

Check Out Our Latest Stock Analysis on Harrow

Harrow Stock Performance

Shares of HROW opened at $39.36 on Tuesday. The company has a 50-day simple moving average of $40.72 and a 200-day simple moving average of $39.92. The company has a quick ratio of 2.30, a current ratio of 2.48 and a debt-to-equity ratio of 10.30. The company has a market capitalization of $1.48 billion, a PE ratio of -39.36 and a beta of 0.28. Harrow has a 52-week low of $28.54 and a 52-week high of $54.85.

Harrow (NASDAQ:HROWGet Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.28). The company had revenue of $70.66 million during the quarter, compared to analyst estimates of $69.84 million. Harrow had a negative net margin of 13.51% and a negative return on equity of 31.83%. Equities research analysts predict that Harrow will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Harrow

In other Harrow news, Director Adrienne L. Graves purchased 1,000 shares of Harrow stock in a transaction on Monday, May 18th. The shares were bought at an average price of $31.07 per share, with a total value of $31,070.00. Following the completion of the acquisition, the director directly owned 1,000 shares of the company’s stock, valued at approximately $31,070. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

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

Harrow Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Harrow (NASDAQ:HROW)

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