Harrow (NASDAQ:HROW) Downgraded to “Sell” Rating by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Harrow (NASDAQ:HROW – Free Report) from a hold rating to a sell rating in a report released on Saturday morning.

A number of other research analysts have also recently commented on HROW. BTIG Research reissued a “buy” rating and issued a $63.00 price target on shares of Harrow in a report on Tuesday, May 12th. Weiss Ratings cut Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 22nd. B. Riley Financial reissued a “buy” rating and issued a $65.00 price target (down from $74.00) on shares of Harrow in a report on Tuesday, April 7th. HC Wainwright reissued a “buy” rating and issued a $70.00 price target on shares of Harrow in a report on Thursday, March 19th. Finally, Zacks Research raised Harrow from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.43.

Read Our Latest Analysis on Harrow

Harrow Stock Performance

NASDAQ HROW opened at $31.21 on Friday. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -76.12 and a beta of 0.34. The company has a quick ratio of 2.06, a current ratio of 2.48 and a debt-to-equity ratio of 10.30. The business has a 50-day moving average price of $36.51 and a 200-day moving average price of $42.13. Harrow has a twelve month low of $25.21 and a twelve month high of $54.85.

Harrow (NASDAQ:HROW – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.31). Harrow had a positive return on equity of 19.59% and a negative net margin of 5.57%.The business had revenue of $44.20 million during the quarter, compared to analysts’ expectations of $52.43 million. During the same period in the prior year, the firm posted ($0.38) earnings per share. As a group, equities research analysts predict that Harrow will post 0.37 EPS for the current fiscal year.

Insider Transactions at Harrow

In other news, CFO Andrew R. Boll acquired 3,500 shares of Harrow stock in a transaction on Thursday, May 14th. The shares were acquired at an average price of $29.90 per share, with a total value of $104,650.00. Following the purchase, the chief financial officer directly owned 814,679 shares in the company, valued at $24,358,902.10. The trade was a 0.43% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 12.80% of the stock is currently owned by insiders.

Institutional Trading of Harrow

A number of large investors have recently added to or reduced their stakes in HROW. Penn Capital Management Company LLC bought a new stake in Harrow in the 3rd quarter worth approximately $15,717,000. Luxor Capital Group LP bought a new stake in Harrow in the 3rd quarter worth approximately $14,807,000. Dimensional Fund Advisors LP increased its stake in Harrow by 56.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company’s stock worth $20,428,000 after acquiring an additional 208,972 shares during the last quarter. New York State Common Retirement Fund increased its stake in Harrow by 1,944.7% in the 3rd quarter. New York State Common Retirement Fund now owns 213,789 shares of the company’s stock worth $10,300,000 after acquiring an additional 203,333 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Harrow by 266.8% in the 2nd quarter. Bank of America Corp DE now owns 213,448 shares of the company’s stock worth $6,519,000 after acquiring an additional 155,258 shares during the last quarter. Institutional investors own 72.76% of the company’s stock.

About Harrow

(Get Free Report)

Harrow Health, Inc (NASDAQ: HROW) is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.

Featured Stories