Harrow (NASDAQ:HROW) Sees Large Volume Increase – Should You Buy?

Harrow, Inc. (NASDAQ:HROW) saw an uptick in trading volume on Thursday . 781,792 shares traded hands during mid-day trading, an increase of 5% from the previous session’s volume of 747,299 shares.The stock last traded at $31.81 and had previously closed at $30.86.

Analysts Set New Price Targets

A number of research firms have weighed in on HROW. Zacks Research upgraded Harrow from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. William Blair reiterated an “outperform” rating on shares of Harrow in a research note on Tuesday, March 3rd. Cantor Fitzgerald reduced their price objective on Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. HC Wainwright reiterated a “buy” rating and set a $70.00 price objective on shares of Harrow in a research note on Thursday, March 19th. Finally, Weiss Ratings lowered Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Harrow presently has an average rating of “Moderate Buy” and an average price target of $69.43.

Harrow Trading Up 0.1%

The company has a debt-to-equity ratio of 10.30, a quick ratio of 2.30 and a current ratio of 2.48. The company has a 50 day moving average of $36.07 and a two-hundred day moving average of $41.92. The stock has a market cap of $1.23 billion, a PE ratio of -80.49 and a beta of 0.34.

Harrow (NASDAQ:HROW) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.31). Harrow had a negative net margin of 5.57% and a positive return on equity of 19.59%. The business had revenue of $44.20 million during the quarter, compared to analysts’ expectations of $52.43 million. During the same quarter in the prior year, the firm earned ($0.38) EPS. Sell-side analysts anticipate that Harrow, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Andrew R. Boll acquired 3,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of $29.90 per share, for a total transaction of $104,650.00. Following the acquisition, the chief financial officer owned 814,679 shares in the company, valued at approximately $24,358,902.10. This represents a 0.43% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Adrienne L. Graves acquired 1,000 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average price of $31.07 per share, for a total transaction of $31,070.00. Following the completion of the acquisition, the director owned 1,000 shares in the company, valued at $31,070. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 12.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Harrow

Several institutional investors have recently bought and sold shares of HROW. University of Texas Texas AM Investment Management Co. acquired a new stake in Harrow in the 4th quarter worth about $26,000. KBC Group NV acquired a new stake in Harrow in the 1st quarter worth about $31,000. Raymond James Financial Inc. acquired a new stake in Harrow in the 2nd quarter worth about $48,000. SBI Securities Co. Ltd. boosted its holdings in Harrow by 393.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company’s stock worth $52,000 after buying an additional 846 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Harrow in the 3rd quarter worth about $83,000. 72.76% of the stock is currently owned by institutional investors and hedge funds.

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.