Insider Buying: Harrow (NASDAQ:HROW) Director Acquires 1,000 Shares of Stock

Harrow, Inc. (NASDAQ:HROW) Director Adrienne Graves bought 1,000 shares of Harrow stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average price of $31.07 per share, with a total value of $31,070.00. Following the purchase, the director directly owned 1,000 shares in the company, valued at $31,070. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Harrow Stock Down 1.0%

Harrow stock opened at $30.90 on Tuesday. The business’s 50-day simple moving average is $36.41 and its two-hundred day simple moving average is $42.11. 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 market cap of $1.15 billion, a PE ratio of -75.36 and a beta of 0.34. Harrow, Inc. has a fifty-two week low of $25.21 and a fifty-two week high of $54.85.

Harrow (NASDAQ:HROW) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.31). Harrow had a positive return on equity of 19.59% and a negative net margin of 5.57%.The firm had revenue of $44.20 million during the quarter, compared to analysts’ expectations of $52.43 million. During the same quarter in the previous year, the business earned ($0.38) earnings per share. Equities analysts anticipate that Harrow, Inc. will post 0.37 EPS for the current year.

Hedge Funds Weigh In On Harrow

Several large investors have recently made changes to their positions in HROW. University of Texas Texas AM Investment Management Co. purchased a new stake in Harrow during the fourth quarter worth $26,000. KBC Group NV acquired a new stake in Harrow during the first quarter valued at $31,000. Raymond James Financial Inc. purchased a new position in Harrow in the second quarter valued at $48,000. SBI Securities Co. Ltd. increased its holdings in Harrow by 393.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company’s stock valued at $52,000 after buying an additional 846 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Harrow during the 3rd quarter worth about $83,000. 72.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on HROW shares. B. Riley Financial reiterated a “buy” rating and issued a $65.00 price objective (down from $74.00) on shares of Harrow in a research note on Tuesday, April 7th. Nomura downgraded shares of Harrow to a “neutral” rating in a research report on Wednesday, March 18th. Wall Street Zen lowered shares of Harrow from a “hold” rating to a “sell” rating in a report on Saturday. 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, Zacks Research raised Harrow from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Harrow currently has an average rating of “Moderate Buy” and an average price target of $69.43.

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.