Key Points
- Harrow CFO Andrew Boll bought 3,500 shares on May 14 at an average price of $29.90, a $104,650 purchase that lifted his holdings to 814,679 shares.
- The stock opened at $31.21 and has traded well below its 50-day and 200-day moving averages, while the company carries a negative earnings profile and high debt-to-equity ratio.
- Harrow recently missed quarterly earnings and revenue estimates, but analysts still maintain a Moderate Buy consensus with an average price target of $69.43.
Harrow, Inc. (NASDAQ:HROW - Get Free Report) CFO Andrew Boll purchased 3,500 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $29.90 per share, with a total value of $104,650.00. Following the acquisition, the chief financial officer owned 814,679 shares in the company, valued at $24,358,902.10. This trade represents a 0.43% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.
Harrow Stock Performance
Shares of NASDAQ:HROW opened at $31.21 on Friday. Harrow, Inc. has a 1 year low of $25.21 and a 1 year high of $54.85. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -76.12 and a beta of 0.34. The company has a debt-to-equity ratio of 10.30, a current ratio of 2.48 and a quick ratio of 2.06. The company's 50 day simple moving average is $36.51 and its 200 day simple moving average is $42.13.
Harrow (NASDAQ:HROW - Get Free Report) last released its earnings results on Monday, May 11th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.31). The business had revenue of $44.20 million for the quarter, compared to the consensus estimate of $52.43 million. Harrow had a positive return on equity of 19.59% and a negative net margin of 5.57%.During the same quarter in the previous year, the company earned ($0.38) earnings per share. As a group, research analysts predict that Harrow, Inc. will post 0.37 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on HROW. Weiss Ratings lowered Harrow from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, April 22nd. BTIG Research reissued a "buy" rating and issued a $63.00 target price on shares of Harrow in a report on Tuesday. B. Riley Financial restated a "buy" rating and issued a $65.00 price target (down from $74.00) on shares of Harrow in a research note on Tuesday, April 7th. Nomura lowered shares of Harrow to a "neutral" rating in a report on Wednesday, March 18th. Finally, Zacks Research upgraded shares of Harrow from a "strong sell" rating to a "hold" rating in a research report on Friday, April 3rd. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $69.43.
View Our Latest Stock Report on Harrow
Institutional Investors Weigh In On Harrow
A number of institutional investors have recently added to or reduced their stakes in HROW. Blackhawk Capital Partners LLC acquired a new position in shares of Harrow during the third quarter worth $5,272,000. Penn Capital Management Company LLC acquired a new stake in Harrow in the third quarter valued at $15,717,000. LJI Wealth Management LLC bought a new position in Harrow during the 3rd quarter worth $1,445,000. Luxor Capital Group LP bought a new position in Harrow during the 3rd quarter worth $14,807,000. Finally, Lumbard & Kellner LLC acquired a new position in Harrow during the 3rd quarter worth about $4,281,000. 72.76% of the stock is owned by institutional investors.
Harrow Company Profile
(
Get Free Report)
Harrow Health, Inc (NASDAQ: HROW) is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.
Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.
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