Harrow (NASDAQ:HROW) Trading Down 4.4% – What’s Next?

Harrow, Inc. (NASDAQ:HROW)’s stock price was down 4.4% during trading on Wednesday . The company traded as low as $44.55 and last traded at $45.60. Approximately 186,130 shares were traded during trading, a decline of 69% from the average daily volume of 609,366 shares. The stock had previously closed at $47.72.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HROW shares. Zacks Research upgraded Harrow from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $94.00 target price on shares of Harrow in a report on Tuesday, November 11th. HC Wainwright raised their price target on Harrow from $64.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. LADENBURG THALM/SH SH lifted their price objective on Harrow from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Finally, Lake Street Capital increased their target price on shares of Harrow from $42.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.43.

Harrow Stock Down 1.9%

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 business’s fifty day moving average price is $46.28 and its two-hundred day moving average price is $41.19. The stock has a market capitalization of $1.65 billion, a PE ratio of 103.00 and a beta of 0.02.

Harrow (NASDAQ:HROW) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $71.64 million during the quarter, compared to analysts’ expectations of $73.70 million. Harrow had a positive return on equity of 28.71% and a negative net margin of 1.99%. On average, equities research analysts forecast that Harrow, Inc. will post -0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HROW. Divisadero Street Capital Management LP purchased a new stake in Harrow during the second quarter worth $4,293,000. Brookstone Capital Management raised its position in shares of Harrow by 232.5% in the third quarter. Brookstone Capital Management now owns 45,775 shares of the company’s stock worth $2,205,000 after acquiring an additional 32,009 shares during the period. Geode Capital Management LLC grew its position in shares of Harrow by 4.7% during the 2nd quarter. Geode Capital Management LLC now owns 810,803 shares of the company’s stock valued at $24,765,000 after acquiring an additional 36,724 shares during the period. Advocate Group LLC acquired a new stake in shares of Harrow during the 2nd quarter valued at about $269,000. Finally, Calamos Advisors LLC purchased a new position in shares of Harrow in the 3rd quarter valued at about $1,088,000. 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.