Harrow (NASDAQ:HROW) Shares Down 5.8% – Should You Sell?

by · The Markets Daily

Harrow, Inc. (NASDAQ:HROW – Get Free Report)’s share price dropped 5.8% on Friday . The company traded as low as $48.13 and last traded at $48.13. Approximately 162,391 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 549,672 shares. The stock had previously closed at $51.10.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Zacks Research downgraded shares of Harrow from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. HC Wainwright boosted their price objective on Harrow from $64.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. LADENBURG THALM/SH SH raised their target price on Harrow from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. B. Riley reaffirmed a “buy” rating and set a $74.00 target price (up previously from $70.00) on shares of Harrow in a research report on Wednesday, October 1st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a research report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.43.

Check Out Our Latest Report on Harrow

Harrow Trading Down 7.0%

The company has a debt-to-equity ratio of 5.21, a current ratio of 2.72 and a quick ratio of 2.52. The firm has a fifty day simple moving average of $40.21 and a two-hundred day simple moving average of $37.27. The firm has a market capitalization of $1.76 billion, a P/E ratio of -476.05 and a beta of 0.07.

Harrow (NASDAQ:HROW – Get Free Report) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. The company had revenue of $71.64 million during the quarter, compared to analyst estimates of $73.70 million. Harrow had a positive return on equity of 28.71% and a negative net margin of 1.99%. On average, equities research analysts anticipate that Harrow, Inc. will post -0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Harrow

Several institutional investors have recently modified their holdings of the company. Penn Capital Management Company LLC bought a new stake in Harrow in the 3rd quarter worth approximately $15,717,000. Verition Fund Management LLC bought a new stake in shares of Harrow in the 3rd quarter worth approximately $296,000. Scientech Research LLC purchased a new stake in shares of Harrow in the 3rd quarter valued at $731,000. Luxor Capital Group LP bought a new position in shares of Harrow during the 3rd quarter valued at $14,807,000. Finally, Larson Financial Group LLC raised its position in Harrow by 848.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,162 shares of the company’s stock worth $104,000 after purchasing an additional 1,934 shares during the period. 72.76% of the stock is currently owned by institutional investors.

Harrow Company Profile

(Get Free Report)

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.

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