Harrow (NASDAQ:HROW) Announces Quarterly Earnings Results

Harrow (NASDAQ:HROW) released its quarterly earnings data on Monday. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.39), FiscalAI reports. The business had revenue of $44.20 million during the quarter, compared to analysts’ expectations of $52.43 million. Harrow had a positive return on equity of 36.51% and a negative net margin of 1.89%.

Harrow Price Performance

Shares of HROW traded down $0.19 during trading hours on Monday, reaching $38.04. 1,545,839 shares of the company traded hands, compared to its average volume of 678,671. The company has a quick ratio of 2.06, a current ratio of 2.20 and a debt-to-equity ratio of 4.67. The stock has a market capitalization of $1.42 billion, a PE ratio of -223.75 and a beta of 0.34. Harrow has a fifty-two week low of $24.50 and a fifty-two week high of $54.85. The stock has a fifty day simple moving average of $38.43 and a 200 day simple moving average of $42.44.

Institutional Trading of Harrow

A number of large investors have recently made changes to their positions in HROW. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Harrow during the fourth quarter valued at $26,000. Raymond James Financial Inc. acquired a new stake in shares of Harrow during the second quarter valued at $48,000. Tower Research Capital LLC TRC boosted its stake in shares of Harrow by 345.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,373 shares of the company’s stock valued at $103,000 after acquiring an additional 2,615 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Harrow by 848.2% during the third quarter. Larson Financial Group LLC now owns 2,162 shares of the company’s stock valued at $104,000 after acquiring an additional 1,934 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Harrow during the first quarter valued at $149,000. Institutional investors and hedge funds own 72.76% of the company’s stock.

Wall Street Analysts Forecast Growth

HROW has been the topic of several research reports. Cantor Fitzgerald lowered their target price on Harrow from $94.00 to $91.00 and set an “overweight” rating on the stock in a report on Wednesday, March 4th. Zacks Research raised Harrow from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Nomura lowered Harrow to a “neutral” rating in a report on Wednesday, March 18th. BTIG Research reissued a “buy” rating and issued a $63.00 target price on shares of Harrow in a report on Friday, April 17th. Finally, Weiss Ratings lowered Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 22nd. Eight 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’s stock. Based on data from MarketBeat.com, Harrow currently has an average rating of “Moderate Buy” and an average price target of $69.86.

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.