Harrow, Inc. (NASDAQ:HROW – Get Free Report) shares traded down 5.7% during mid-day trading on Wednesday. The company traded as low as $28.64 and last traded at $28.64. Approximately 307,873 shares were traded during mid-day trading, a decline of 56% from the average session volume of 696,100 shares. The stock had previously closed at $30.36.
Analyst Upgrades and Downgrades
HROW has been the subject of several recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a research report on Friday, October 16th. Leerink Partners assumed coverage on shares of Harrow in a report on Wednesday, September 9th. They set an “outperform” rating and a $45.00 target price on the stock. Wall Street Zen raised shares of Harrow from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Zacks Research lowered shares of Harrow from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 3rd. Finally, BTIG Research reissued a “buy” rating and set a $63.00 price target on shares of Harrow in a research report on Wednesday. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $66.20.
Read Our Latest Stock Analysis on HROW
Harrow Stock Performance
The company has a debt-to-equity ratio of 10.15, a quick ratio of 2.08 and a current ratio of 2.29. The business has a 50-day moving average price of $30.94 and a 200 day moving average price of $37.59. The stock has a market capitalization of $1.06 billion, a P/E ratio of -36.28 and a beta of 0.18.
Harrow (NASDAQ:HROW – Get Free Report) last posted its quarterly earnings results on Monday, November 9th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.06. The company had revenue of $99.30 million for the quarter, compared to the consensus estimate of $98.59 million. Harrow had a negative return on equity of 69.81% and a negative net margin of 9.39%. As a group, sell-side analysts forecast that Harrow, Inc. will post -0.02 EPS for the current fiscal year.
Hedge Funds Weigh In On Harrow
Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Harrow in the 2nd quarter worth about $116,373,000. Bamco Inc. NY bought a new stake in Harrow during the 2nd quarter valued at about $34,373,000. Jupiter Topco LLC bought a new stake in Harrow during the 2nd quarter valued at about $24,596,000. Rice Hall James & Associates LLC bought a new stake in Harrow during the 2nd quarter valued at about $16,459,000. Finally, Dimensional Fund Advisors LP increased its stake in Harrow by 56.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company’s stock valued at $20,428,000 after purchasing an additional 208,972 shares in the last quarter. 72.76% of the stock is currently owned by institutional investors.
About Harrow
Harrow is a pharmaceutical company focused on developing, acquiring and commercializing treatments for eye conditions. Its portfolio includes prescription ophthalmic medicines used in areas such as dry eye disease, eye inflammation and pain management, as well as products used in eye surgery and clinical settings. The company markets branded products including VEVYE, a treatment for dry eye disease, and IHEEZO, an ophthalmic anesthetic gel. Through its ImprimisRx subsidiary, Harrow also provides compounded medications and related services for ophthalmology practices and patients.
Further Reading
- Five stocks we like better than Harrow
- Heavy Lifting: Can USA Rare Earth Turn Its First Sales Into Big Profits?
- These 3 Stocks Have Bought Back Billions, But Which Offers the Best Value?
- Golden Dome’s $185 Billion Question: Who Actually Gets Paid?
- Checkmate for AI Chips? NVIDIA’s Crisis Opens the Board
Receive News & Ratings for Harrow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harrow and related companies with MarketBeat.com's FREE daily email newsletter.
