Harrow (NASDAQ:HROW) Issues Quarterly Earnings Results

by · The Markets Daily

Harrow (NASDAQ:HROW – Get Free Report) issued its quarterly earnings results on Monday. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23), FiscalAI reports. Harrow had a positive return on equity of 28.71% and a negative net margin of 1.99%.The firm had revenue of $89.09 million during the quarter, compared to analyst estimates of $88.42 million.

Harrow Stock Down 1.1%

Harrow stock traded down $0.59 during trading on Monday, hitting $53.59. 778,311 shares of the company were exchanged, compared to its average volume of 571,137. The company has a current ratio of 2.72, a quick ratio of 2.52 and a debt-to-equity ratio of 5.21. The business’s 50 day moving average is $48.53 and its 200 day moving average is $43.70. Harrow has a 52 week low of $20.85 and a 52 week high of $54.85. The company has a market capitalization of $1.98 billion, a P/E ratio of -535.85 and a beta of 0.05.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HROW. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $94.00 price target on shares of Harrow in a research report on Tuesday, November 11th. LADENBURG THALM/SH SH lifted their target price on Harrow from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Zacks Research lowered Harrow from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a research note on Thursday, January 22nd. Finally, HC Wainwright increased their target price on shares of Harrow from $64.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $71.43.

Get Our Latest Stock Analysis on HROW

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HROW. Vanguard Group Inc. lifted its position in shares of Harrow by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 1,921,683 shares of the company’s stock worth $94,162,000 after buying an additional 50,889 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Harrow by 4.7% during the second quarter. Geode Capital Management LLC now owns 810,803 shares of the company’s stock valued at $24,765,000 after acquiring an additional 36,724 shares during the last quarter. Marshall Wace LLP increased its position in shares of Harrow by 31.5% during the second quarter. Marshall Wace LLP now owns 564,876 shares of the company’s stock valued at $17,251,000 after acquiring an additional 135,202 shares during the last quarter. Penn Capital Management Company LLC lifted its holdings in Harrow by 20.5% during the fourth quarter. Penn Capital Management Company LLC now owns 392,067 shares of the company’s stock worth $19,257,000 after acquiring an additional 66,589 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Harrow by 32.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 370,548 shares of the company’s stock worth $18,159,000 after purchasing an additional 90,331 shares during the last quarter. 72.76% of the stock is owned by institutional investors.

Harrow Company Profile

(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.

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