LJI Wealth Management LLC Makes New Investment in Harrow, Inc. $HROW

LJI Wealth Management LLC purchased a new position in shares of Harrow, Inc. (NASDAQ:HROW) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 30,000 shares of the company’s stock, valued at approximately $1,445,000. LJI Wealth Management LLC owned approximately 0.08% of Harrow at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Divisadero Street Capital Management LP purchased a new stake in Harrow in the 2nd quarter valued at about $4,293,000. Geode Capital Management LLC boosted its position in shares of Harrow by 4.7% in the second quarter. Geode Capital Management LLC now owns 810,803 shares of the company’s stock worth $24,765,000 after acquiring an additional 36,724 shares during the last quarter. Brookstone Capital Management raised its stake in Harrow by 232.5% during the third quarter. Brookstone Capital Management now owns 45,775 shares of the company’s stock worth $2,205,000 after purchasing an additional 32,009 shares during the period. Advocate Group LLC purchased a new stake in shares of Harrow during the 2nd quarter valued at $269,000. Finally, Calamos Advisors LLC purchased a new position in shares of Harrow in the 3rd quarter worth $1,088,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Harrow Stock Performance

Harrow stock opened at $47.90 on Friday. Harrow, Inc. has a 12-month low of $20.85 and a 12-month high of $54.85. 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 company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -478.95 and a beta of 0.02. The firm’s fifty day moving average price is $45.43 and its 200 day moving average price is $40.73.

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

Wall Street Analyst Weigh In

HROW has been the topic of a number of research reports. Lake Street Capital raised their price objective on Harrow from $42.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, September 29th. HC Wainwright lifted their target price on shares of Harrow from $64.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. LADENBURG THALM/SH SH upped their price target on shares of Harrow from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a research report on Wednesday, October 8th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $63.00 target price on shares of Harrow in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.43.

About Harrow

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.