Deerfield Management Company L.P. Series C Grows Stock Holdings in Harrow, Inc. (NASDAQ:HROW)

Deerfield Management Company L.P. Series C grew its position in shares of Harrow, Inc. (NASDAQ:HROW) by 55.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,447 shares of the company’s stock after acquiring an additional 9,105 shares during the period. Deerfield Management Company L.P. Series C owned about 0.07% of Harrow worth $532,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of HROW. Price T Rowe Associates Inc. MD boosted its holdings in Harrow by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,672 shares of the company’s stock valued at $221,000 after acquiring an additional 1,033 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Harrow in the 2nd quarter worth about $33,000. BNP Paribas Financial Markets boosted its stake in shares of Harrow by 12.7% during the 1st 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 in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Harrow by 2,730.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,123 shares of the company’s stock valued at $44,000 after buying an additional 2,048 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in Harrow by 66.0% in the first quarter. China Universal Asset Management Co. Ltd. now owns 6,745 shares of the company’s stock worth $89,000 after buying an additional 2,682 shares in the last quarter. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

Harrow Price Performance

Shares of HROW opened at $44.07 on Friday. Harrow, Inc. has a fifty-two week low of $7.60 and a fifty-two week high of $47.55. The firm’s 50-day simple moving average is $36.29 and its two-hundred day simple moving average is $22.81. The stock has a market cap of $1.56 billion, a PE ratio of -48.43 and a beta of 0.75. The company has a debt-to-equity ratio of 3.18, a quick ratio of 2.43 and a current ratio of 2.60.

Harrow (NASDAQ:HROW) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.12. The company had revenue of $48.94 million for the quarter, compared to the consensus estimate of $42.78 million. Harrow had a negative return on equity of 40.59% and a negative net margin of 21.78%. Analysts anticipate that Harrow, Inc. will post -0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Craig Hallum lifted their price objective on Harrow from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Lake Street Capital lifted their price target on Harrow from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Finally, B. Riley reiterated a “buy” rating and issued a $50.00 price objective on shares of Harrow in a report on Thursday, August 29th.

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.