Harrow (NASDAQ:HROW) Reaches New 12-Month High at $22.83

Harrow, Inc. (NASDAQ:HROW)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $22.83 and last traded at $22.75, with a volume of 26586 shares changing hands. The stock had previously closed at $22.46.

Analysts Set New Price Targets

HROW has been the subject of several analyst reports. Lake Street Capital upped their target price on Harrow from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. B. Riley restated a “buy” rating and issued a $29.00 price target (up previously from $26.00) on shares of Harrow in a report on Wednesday, May 15th. Finally, Craig Hallum increased their price objective on shares of Harrow from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, June 21st.

Harrow Stock Performance

The stock has a fifty day moving average price of $17.64 and a two-hundred day moving average price of $13.31. The company has a market cap of $815.91 million, a P/E ratio of -25.34 and a beta of 0.77. The company has a debt-to-equity ratio of 3.06, a current ratio of 3.00 and a quick ratio of 2.75.

Harrow (NASDAQ:HROW) last announced its earnings results on Monday, May 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The company had revenue of $34.59 million during the quarter, compared to the consensus estimate of $34.37 million. Harrow had a negative net margin of 22.59% and a negative return on equity of 39.82%. On average, equities analysts forecast that Harrow, Inc. will post -0.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Harrow

In related news, major shareholder Opaleye Management Inc. purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was acquired at an average price of $9.97 per share, for a total transaction of $199,400.00. Following the transaction, the insider now directly owns 3,815,000 shares of the company’s stock, valued at approximately $38,035,550. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have purchased 61,115 shares of company stock valued at $630,411. Corporate insiders own 13.67% of the company’s stock.

Institutional Investors Weigh In On Harrow

Hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. grew its position in Harrow by 347.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,063 shares of the company’s stock valued at $46,000 after purchasing an additional 3,155 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Harrow by 122.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,073 shares of the company’s stock worth $90,000 after acquiring an additional 4,440 shares during the last quarter. Bayesian Capital Management LP acquired a new position in shares of Harrow in the first quarter worth $185,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Harrow by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,672 shares of the company’s stock worth $221,000 after acquiring an additional 1,033 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Harrow by 12.7% during the first quarter. BNP Paribas Financial Markets now owns 16,941 shares of the company’s stock valued at $224,000 after purchasing an additional 1,912 shares during the last quarter. 72.76% of the stock is owned by hedge funds and other 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.