Rice Hall James & Associates LLC Boosts Stock Position in Harrow, Inc. $HROW

Rice Hall James & Associates LLC lifted its holdings in Harrow, Inc. (NASDAQ:HROW) by 8.5% during the fourth quarter, Holdings Channel reports. The fund owned 361,998 shares of the company’s stock after buying an additional 28,303 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Harrow were worth $17,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Harrow in the fourth quarter worth $26,000. Verition Fund Management LLC increased its stake in shares of Harrow by 260.0% in the fourth quarter. Verition Fund Management LLC now owns 22,144 shares of the company’s stock worth $1,085,000 after acquiring an additional 15,993 shares during the period. Panagora Asset Management Inc. acquired a new stake in shares of Harrow in the fourth quarter worth $1,903,000. MML Investors Services LLC acquired a new stake in shares of Harrow in the fourth quarter worth $359,000. Finally, Mariner LLC acquired a new stake in shares of Harrow in the fourth quarter worth $600,000. Institutional investors and hedge funds own 72.76% of the company’s stock.

Harrow Stock Up 3.4%

HROW stock opened at $38.93 on Tuesday. The firm has a market cap of $1.45 billion, a PE ratio of -94.95 and a beta of 0.28. 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 firm’s fifty day moving average is $36.09 and its 200 day moving average is $41.62. Harrow, Inc. has a one year low of $28.54 and a one year high of $54.85.

Harrow (NASDAQ:HROW) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.31). The firm had revenue of $44.20 million for the quarter, compared to analyst estimates of $52.43 million. Harrow had a negative net margin of 5.57% and a positive return on equity of 19.59%. During the same quarter in the prior year, the business posted ($0.38) EPS. On average, research analysts forecast that Harrow, Inc. will post 0.29 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HROW. Zacks Research upgraded shares of Harrow from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Nomura lowered shares of Harrow to a “neutral” rating in a research note on Wednesday, March 18th. BTIG Research reiterated a “buy” rating and issued a $63.00 price objective on shares of Harrow in a research note on Tuesday, May 12th. HC Wainwright reiterated a “buy” rating and issued a $70.00 price objective on shares of Harrow in a research note on Thursday, March 19th. Finally, Weiss Ratings lowered shares of Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.43.

Insider Buying and Selling at Harrow

In other news, CFO Andrew R. Boll purchased 3,500 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $29.90 per share, for a total transaction of $104,650.00. Following the completion of the transaction, the chief financial officer owned 814,679 shares in the company, valued at $24,358,902.10. This represents a 0.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Adrienne L. Graves purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were purchased at an average price of $31.07 per share, for a total transaction of $31,070.00. Following the transaction, the director owned 1,000 shares of the company’s stock, valued at $31,070. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 12.80% of the stock is currently owned by company insiders.

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.