Harrow (NASDAQ:HROW) Announces Earnings Results

by · The Markets Daily

Harrow (NASDAQ:HROW – Get Free Report) announced its earnings results on Monday. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.06, FiscalAI reports. The company had revenue of $99.30 million during the quarter, compared to analyst estimates of $98.59 million. Harrow had a negative net margin of 13.51% and a negative return on equity of 38.00%.

Harrow Trading Up 2.2%

Harrow stock traded up $0.58 during midday trading on Monday, reaching $27.47. 1,162,138 shares of the stock traded hands, compared to its average volume of 691,479. The company has a 50-day simple moving average of $31.63 and a two-hundred day simple moving average of $37.91. Harrow has a 12-month low of $25.76 and a 12-month high of $54.85. The firm has a market cap of $1.03 billion, a PE ratio of -27.47 and a beta of 0.18. The company has a current ratio of 2.24, a quick ratio of 2.08 and a debt-to-equity ratio of 19.70.

Insiders Place Their Bets

In other Harrow news, insider Amir Shojaei sold 11,250 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $40.00, for a total transaction of $450,000.00. Following the sale, the insider directly owned 11,250 shares in the company, valued at $450,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HROW shares. Zacks Research downgraded shares of Harrow from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 3rd. BTIG Research reaffirmed a “buy” rating and set a $63.00 price objective on shares of Harrow in a research report on Wednesday, October 7th. Leerink Partners started coverage on shares of Harrow in a research report on Wednesday, September 9th. They set an “outperform” rating and a $45.00 price objective for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a report on Friday, October 16th. Finally, Wall Street Zen raised Harrow from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Harrow presently has an average rating of “Moderate Buy” and an average target price of $66.17.

Check Out Our Latest Stock Analysis on Harrow

Harrow Company Profile

(Get Free Report)

Harrow, Inc is an ophthalmic pharmaceutical company focused on developing, acquiring, and commercializing prescription therapies for eye care. The company’s portfolio addresses conditions and procedures involving the ocular surface, anterior segment, and retina, with products intended for use by ophthalmologists and other eye-care professionals.

Harrow’s commercial products include VEVYE, a cyclosporine ophthalmic solution for the treatment of dry eye disease, and IHEEZO, a chloroprocaine hydrochloride ophthalmic gel used for ocular surface anesthesia during ophthalmic procedures.

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