Harrow (NASDAQ:HROW) Rating Increased to Hold at Zacks Research

Harrow (NASDAQ:HROW) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday, Zacks reports.

HROW has been the topic of several other research reports. Wall Street Zen raised Harrow from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. BTIG Research restated a “buy” rating and issued a $63.00 target price on shares of Harrow in a research note on Tuesday, August 11th. Cantor Fitzgerald reduced their target price on shares of Harrow from $91.00 to $88.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Harrow in a report on Monday, July 20th. Finally, Leerink Partners assumed coverage on shares of Harrow in a research report on Wednesday. They set an “outperform” rating and a $45.00 target price for the company. Nine equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.38.

Harrow Stock Down 2.6%

Shares of HROW opened at $36.58 on Wednesday. The company has a quick ratio of 2.08, a current ratio of 2.24 and a debt-to-equity ratio of 19.70. The company has a 50-day moving average price of $40.47 and a two-hundred day moving average price of $38.80. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of -36.58 and a beta of 0.24. Harrow has a 12 month low of $28.54 and a 12 month high of $54.85.

Harrow (NASDAQ:HROW) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.28). Harrow had a negative net margin of 13.51% and a negative return on equity of 38.00%. The company had revenue of $70.66 million during the quarter, compared to the consensus estimate of $70.35 million.

Insider Buying and Selling

In related news, insider Amir Shojaei sold 11,250 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $40.00, for a total transaction of $450,000.00. Following the sale, the insider directly owned 11,250 shares in the company, valued at $450,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Harrow

Institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC boosted its stake in Harrow by 13.1% in the fourth quarter. Larson Financial Group LLC now owns 2,446 shares of the company’s stock valued at $120,000 after acquiring an additional 284 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Harrow by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,547 shares of the company’s stock valued at $505,000 after acquiring an additional 341 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Harrow by 0.5% in the 4th quarter. Captrust Financial Advisors now owns 69,959 shares of the company’s stock valued at $3,428,000 after purchasing an additional 376 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Harrow by 1.7% in the 3rd quarter. Alliancebernstein L.P. now owns 29,520 shares of the company’s stock valued at $1,422,000 after purchasing an additional 500 shares during the period. Finally, University of Texas Texas AM Investment Management Co. bought a new position in shares of Harrow in the 4th quarter worth $26,000. Institutional investors own 72.76% of the company’s stock.

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.