Harrow (NASDAQ:HROW) Reaches New 52-Week High at $47.55

Harrow, Inc. (NASDAQ:HROW)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $47.55 and last traded at $47.30, with a volume of 76879 shares changing hands. The stock had previously closed at $45.33.

Analysts Set New Price Targets

A number of equities analysts have commented on HROW shares. Craig Hallum boosted their price objective on shares of Harrow from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Lake Street Capital increased their target price on Harrow from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Finally, B. Riley restated a “buy” rating and issued a $50.00 price target on shares of Harrow in a research note on Thursday, August 29th.

Harrow Stock Down 3.1 %

The stock’s fifty day simple moving average is $34.70 and its two-hundred day simple moving average is $21.87. The company has a debt-to-equity ratio of 3.18, a current ratio of 2.60 and a quick ratio of 2.43. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -49.47 and a beta of 0.75.

Harrow (NASDAQ:HROW) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.12. The business had revenue of $48.94 million for the quarter, compared to analysts’ expectations of $42.78 million. Harrow had a negative return on equity of 40.59% and a negative net margin of 21.78%. On average, sell-side analysts predict that Harrow, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of Harrow

Hedge funds have recently bought and sold shares of the company. Creative Planning increased its stake in shares of Harrow by 96.8% in the second quarter. Creative Planning now owns 29,486 shares of the company’s stock valued at $616,000 after purchasing an additional 14,500 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Harrow by 5.0% during the second quarter. The Manufacturers Life Insurance Company now owns 11,865 shares of the company’s stock valued at $248,000 after purchasing an additional 567 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its holdings in Harrow by 55.7% in the second quarter. Deerfield Management Company L.P. Series C now owns 25,447 shares of the company’s stock worth $532,000 after purchasing an additional 9,105 shares during the period. Marshall Wace LLP acquired a new position in Harrow during the 2nd quarter valued at about $1,112,000. Finally, Apis Capital Advisors LLC bought a new stake in shares of Harrow during the 2nd quarter worth about $1,660,000. 72.76% of the stock is currently owned by institutional investors.

Harrow Company Profile

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.