Harrow (NASDAQ:HROW) Earns Buy Rating from HC Wainwright

Harrow (NASDAQ:HROW)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They presently have a $57.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 117.47% from the stock’s current price.

Separately, B. Riley reduced their target price on Harrow from $73.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th.

Harrow Stock Performance

NASDAQ HROW opened at $26.21 on Monday. The firm has a market capitalization of $933.47 million, a price-to-earnings ratio of -27.88 and a beta of 0.69. Harrow has a 52-week low of $9.86 and a 52-week high of $59.23. The company’s fifty day moving average is $28.90 and its two-hundred day moving average is $37.97. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.55 and a quick ratio of 1.44.

Harrow (NASDAQ:HROW) last issued its earnings results on Thursday, March 27th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.11 by $0.14. Harrow had a negative net margin of 19.75% and a negative return on equity of 45.57%. The company had revenue of $66.83 million during the quarter, compared to analysts’ expectations of $66.01 million. Equities research analysts forecast that Harrow will post -0.53 EPS for the current year.

Institutional Investors Weigh In On Harrow

A number of hedge funds and other institutional investors have recently made changes to their positions in HROW. Quest Partners LLC bought a new position in Harrow in the third quarter valued at about $29,000. Intech Investment Management LLC acquired a new position in shares of Harrow in the third quarter worth approximately $460,000. Charles Schwab Investment Management Inc. increased its position in Harrow by 195.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 251,629 shares of the company’s stock valued at $11,313,000 after purchasing an additional 166,602 shares during the period. Quantbot Technologies LP acquired a new position in shares of Harrow in the 3rd quarter worth approximately $549,000. Finally, FMR LLC boosted its stake in shares of Harrow by 521.6% in the 3rd quarter. FMR LLC now owns 11,034 shares of the company’s stock valued at $496,000 after purchasing an additional 9,259 shares during the last quarter. 72.76% of the stock is currently owned by institutional investors and hedge funds.

About Harrow

Harrow, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company was formerly known as Imprimis Pharmaceuticals, Inc and changed its name to Harrow Health, Inc in December 2018. Harrow Health, Inc was incorporated in 2006 and is headquartered in Nashville, Tennessee.