Phoenix Financial Ltd. Acquires Shares of 12,100 Harrow, Inc. $HROW

Phoenix Financial Ltd. bought a new position in shares of Harrow, Inc. (NASDAQ:HROW) during the third quarter, HoldingsChannel reports. The firm bought 12,100 shares of the company’s stock, valued at approximately $583,000.

Other hedge funds also recently made changes to their positions in the company. Diametric Capital LP acquired a new stake in shares of Harrow during the 2nd quarter valued at approximately $4,748,000. Bank of America Corp DE increased its stake in Harrow by 266.8% during the second quarter. Bank of America Corp DE now owns 213,448 shares of the company’s stock valued at $6,519,000 after purchasing an additional 155,258 shares during the last quarter. Divisadero Street Capital Management LP acquired a new stake in shares of Harrow during the second quarter worth $4,293,000. Invesco Ltd. boosted its holdings in shares of Harrow by 967.6% in the 2nd quarter. Invesco Ltd. now owns 150,948 shares of the company’s stock valued at $4,610,000 after buying an additional 136,809 shares during the period. Finally, Marshall Wace LLP grew its position in shares of Harrow by 31.5% during the 2nd quarter. Marshall Wace LLP now owns 564,876 shares of the company’s stock valued at $17,251,000 after buying an additional 135,202 shares during the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $94.00 target price on shares of Harrow in a report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a research report on Thursday, January 22nd. HC Wainwright boosted their price objective on Harrow from $64.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Zacks Research upgraded Harrow from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Finally, LADENBURG THALM/SH SH raised their target price on Harrow from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.43.

Harrow Stock Performance

Shares of HROW stock opened at $42.59 on Thursday. Harrow, Inc. has a 12-month low of $20.85 and a 12-month high of $54.85. The company has a debt-to-equity ratio of 5.21, a current ratio of 2.72 and a quick ratio of 2.52. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -425.86 and a beta of 0.02. The business has a 50 day simple moving average of $46.47 and a 200 day simple moving average of $41.48.

Harrow (NASDAQ:HROW) last announced its earnings results on Monday, November 10th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. Harrow had a positive return on equity of 28.71% and a negative net margin of 1.99%.The firm had revenue of $71.64 million for the quarter, compared to the consensus estimate of $73.70 million. On average, equities research analysts anticipate that Harrow, Inc. will post -0.53 EPS for the current year.

Harrow 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.