HC Wainwright Reiterates “Buy” Rating for Harrow (NASDAQ:HROW)

Harrow (NASDAQ:HROW)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They presently have a $57.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 115.11% from the company’s current price.

Separately, B. Riley lowered their price target on shares of 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

HROW stock traded up $3.18 during trading on Tuesday, hitting $26.50. 1,399,188 shares of the company traded hands, compared to its average volume of 385,732. 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 has a 1 year low of $9.30 and a 1 year high of $59.23. The stock’s 50-day simple moving average is $30.19 and its 200 day simple moving average is $38.73. The company has a market cap of $943.73 million, a PE ratio of -28.11 and a beta of 0.69.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HROW. Braidwell LP increased its holdings in Harrow by 106.3% in the 4th quarter. Braidwell LP now owns 907,039 shares of the company’s stock worth $30,431,000 after acquiring an additional 467,401 shares in the last quarter. First Turn Management LLC purchased a new stake in shares of Harrow during the third quarter worth about $14,683,000. JPMorgan Chase & Co. raised its position in shares of Harrow by 443.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 238,367 shares of the company’s stock worth $10,717,000 after purchasing an additional 194,480 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Harrow by 195.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 251,629 shares of the company’s stock valued at $11,313,000 after buying an additional 166,602 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Harrow in the 3rd quarter valued at about $5,864,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.

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.