Harrow (NASDAQ:HROW) Reaches New 12-Month High at $47.55

Harrow, Inc. (NASDAQ:HROW) hit a new 52-week high on Thursday . The company traded as high as $47.55 and last traded at $47.30, with a volume of 76879 shares changing hands. The stock had previously closed at $45.33.

Analyst Ratings Changes

HROW has been the topic of a number of analyst reports. Lake Street Capital boosted their price target on Harrow from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. B. Riley reissued a “buy” rating and issued a $50.00 target price on shares of Harrow in a research note on Thursday, August 29th. Finally, Craig Hallum lifted their price target on Harrow from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, August 9th.

Harrow Stock Performance

The company has a market capitalization of $1.65 billion, a PE ratio of -49.81 and a beta of 0.75. 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 business’s fifty day moving average is $33.82 and its two-hundred day moving average is $21.46.

Harrow (NASDAQ:HROW) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.12. The firm had revenue of $48.94 million during the quarter, compared to analysts’ expectations of $42.78 million. Harrow had a negative return on equity of 40.59% and a negative net margin of 21.78%. Equities research analysts predict that Harrow, Inc. will post -0.38 earnings per share for the current year.

Institutional Trading of Harrow

Several institutional investors have recently made changes to their positions in HROW. nVerses Capital LLC purchased a new position in shares of Harrow in the second quarter worth $33,000. Allspring Global Investments Holdings LLC lifted its stake in Harrow by 2,730.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,123 shares of the company’s stock worth $44,000 after purchasing an additional 2,048 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Harrow by 66.0% in the first quarter. China Universal Asset Management Co. Ltd. now owns 6,745 shares of the company’s stock worth $89,000 after buying an additional 2,682 shares during the period. Bayesian Capital Management LP bought a new position in shares of Harrow in the first quarter worth about $185,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Harrow by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,672 shares of the company’s stock worth $221,000 after acquiring an additional 1,033 shares in the last quarter. Hedge funds and other institutional investors own 72.76% of the company’s stock.

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.