Harrow (NASDAQ:HROW) Sets New 1-Year High – Still a Buy?

Harrow, Inc. (NASDAQ:HROW)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $52.00 and last traded at $51.31, with a volume of 190426 shares. The stock had previously closed at $51.00.

Analyst Ratings Changes

HROW has been the subject of several research reports. Lake Street Capital boosted their price target on shares of Harrow from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. B. Riley reiterated a “buy” rating and issued a $50.00 target price on shares of Harrow in a report on Thursday, August 29th. Finally, Craig Hallum upped their price target on Harrow from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, October 4th.

Harrow Stock Up 0.4 %

The firm’s fifty day simple moving average is $40.00 and its 200 day simple moving average is $25.06. The company has a current ratio of 2.60, a quick ratio of 2.43 and a debt-to-equity ratio of 3.18. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -56.04 and a beta of 0.75.

Harrow (NASDAQ:HROW) last issued its earnings results on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.12. The firm had revenue of $48.94 million during the quarter, compared to the consensus estimate of $42.78 million. Harrow had a negative net margin of 21.78% and a negative return on equity of 40.59%. Sell-side analysts predict that Harrow, Inc. will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On Harrow

Hedge funds have recently added to or reduced their stakes in the stock. Private Capital Management LLC raised its stake in Harrow by 97.2% during the 4th quarter. Private Capital Management LLC now owns 2,794,497 shares of the company’s stock valued at $31,298,000 after acquiring an additional 1,377,597 shares during the last quarter. Opaleye Management Inc. grew its holdings in Harrow by 2.6% in the first quarter. Opaleye Management Inc. now owns 3,920,600 shares of the company’s stock valued at $51,870,000 after purchasing an additional 100,600 shares during the period. Woodmont Investment Counsel LLC increased its position in Harrow by 73.3% during the first quarter. Woodmont Investment Counsel LLC now owns 211,579 shares of the company’s stock worth $2,799,000 after purchasing an additional 89,510 shares during the last quarter. Wasatch Advisors LP raised its stake in Harrow by 28.3% during the first quarter. Wasatch Advisors LP now owns 388,132 shares of the company’s stock worth $5,135,000 after purchasing an additional 85,600 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Harrow during the 2nd quarter worth $1,698,000. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

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.