Lake Street Capital Increases Harrow (NASDAQ:HROW) Price Target to $55.00

Harrow (NASDAQ:HROW) had its price target increased by equities researchers at Lake Street Capital from $45.00 to $55.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Lake Street Capital’s target price suggests a potential upside of 9.37% from the stock’s previous close.

A number of other research firms also recently issued reports on HROW. B. Riley restated a “buy” rating and set a $50.00 price target on shares of Harrow in a research note on Thursday, August 29th. Craig Hallum boosted their price target on Harrow from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Friday.

Harrow Stock Performance

NASDAQ:HROW traded up $0.54 during mid-day trading on Friday, reaching $50.29. The company’s stock had a trading volume of 389,806 shares, compared to its average volume of 490,981. Harrow has a 12-month low of $7.60 and a 12-month high of $51.81. The firm’s fifty day moving average price is $38.42 and its two-hundred day moving average price is $24.03. 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 stock has a market cap of $1.78 billion, a P/E ratio of -55.26 and a beta of 0.75.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HROW. Opaleye Management Inc. boosted its stake in Harrow by 2.6% in the 1st quarter. Opaleye Management Inc. now owns 3,920,600 shares of the company’s stock worth $51,870,000 after purchasing an additional 100,600 shares during the period. Private Capital Management LLC boosted its stake in Harrow by 7.8% in the 1st quarter. Private Capital Management LLC now owns 3,012,393 shares of the company’s stock worth $39,854,000 after purchasing an additional 217,896 shares during the period. Vanguard Group Inc. boosted its stake in Harrow by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,829,805 shares of the company’s stock worth $24,208,000 after purchasing an additional 21,253 shares during the period. Ophir Asset Management Pty Ltd boosted its stake in Harrow by 11.4% in the 4th quarter. Ophir Asset Management Pty Ltd now owns 548,130 shares of the company’s stock worth $6,139,000 after purchasing an additional 55,951 shares during the period. Finally, Stifel Financial Corp boosted its stake in Harrow by 27.0% in the 4th quarter. Stifel Financial Corp now owns 431,973 shares of the company’s stock worth $4,838,000 after purchasing an additional 91,881 shares during the period. 72.76% of the stock is currently owned by institutional investors.

Harrow Company Profile

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.