Harrow (NASDAQ:HROW) Hits New 12-Month High at $49.10

Harrow, Inc. (NASDAQ:HROW)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $49.10 and last traded at $48.04, with a volume of 85355 shares traded. The stock had previously closed at $45.88.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on HROW shares. Craig Hallum boosted their target price on shares of Harrow from $30.00 to $45.00 and gave the company a “buy” rating in a report on Friday, August 9th. B. Riley reaffirmed a “buy” rating and set a $50.00 price target on shares of Harrow in a research report on Thursday, August 29th.

Harrow Price Performance

The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -54.37 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 company’s fifty day moving average is $37.91 and its two-hundred day moving average is $23.85.

Harrow (NASDAQ:HROW) last released its quarterly earnings data 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 company had revenue of $48.94 million for the quarter, compared to analysts’ expectations of $42.78 million. Harrow had a negative net margin of 21.78% and a negative return on equity of 40.59%. As a group, research analysts predict that Harrow, Inc. will post -0.14 earnings per share for the current year.

Institutional Trading of Harrow

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

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.