Craig Hallum Increases Harrow (NASDAQ:HROW) Price Target to $30.00

Harrow (NASDAQ:HROWGet Free Report) had its price target boosted by research analysts at Craig Hallum from $26.00 to $30.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price objective would suggest a potential upside of 42.86% from the company’s current price.

Several other analysts also recently commented on the company. Lake Street Capital increased their target price on Harrow from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. B. Riley reaffirmed a “buy” rating and set a $29.00 price objective (up from $26.00) on shares of Harrow in a research report on Wednesday, May 15th.

Check Out Our Latest Report on Harrow

Harrow Stock Performance

NASDAQ:HROW opened at $21.00 on Friday. The company has a debt-to-equity ratio of 3.06, a quick ratio of 2.75 and a current ratio of 3.00. Harrow has a fifty-two week low of $7.60 and a fifty-two week high of $22.63. The business has a 50 day moving average price of $14.82 and a 200-day moving average price of $12.24. The firm has a market cap of $743.02 million, a PE ratio of -23.08 and a beta of 0.88.

Harrow (NASDAQ:HROWGet Free Report) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The company had revenue of $34.59 million during the quarter, compared to the consensus estimate of $34.37 million. Harrow had a negative net margin of 22.59% and a negative return on equity of 39.82%. Equities research analysts predict that Harrow will post -0.51 earnings per share for the current year.

Insider Buying and Selling at Harrow

In related news, major shareholder Opaleye Management Inc. bought 11,715 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were purchased at an average cost of $10.29 per share, with a total value of $120,547.35. Following the completion of the acquisition, the insider now directly owns 3,786,715 shares in the company, valued at $38,965,297.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders acquired 111,115 shares of company stock worth $1,271,411. Company insiders own 13.67% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HROW. Barclays PLC lifted its stake in Harrow by 170.8% in the third quarter. Barclays PLC now owns 35,864 shares of the company’s stock worth $515,000 after acquiring an additional 22,620 shares during the last quarter. Swiss National Bank raised its stake in Harrow by 5.5% in the third quarter. Swiss National Bank now owns 65,400 shares of the company’s stock valued at $940,000 after buying an additional 3,400 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Harrow during the 3rd quarter worth about $397,000. Stifel Financial Corp acquired a new position in shares of Harrow during the 3rd quarter worth about $4,887,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Harrow by 66.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,842 shares of the company’s stock worth $802,000 after acquiring an additional 22,372 shares in the last quarter. 72.76% of the stock is currently owned by institutional investors and hedge funds.

Harrow Company Profile

(Get Free Report)

Harrow Health, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company also holds equity interests in Surface Ophthalmics, Inc, a clinical-stage pharmaceutical company that focuses on the development and commercialization of therapeutics for ocular surface diseases; Melt Pharmaceuticals, Inc, a clinical-stage pharmaceutical company that focused on the development and commercialization of proprietary non-intravenous, sedation, and anesthesia therapeutics for human medical procedures in hospital, outpatient, and in-office settings; and Eton Pharmaceuticals, Inc, a commercial-stage pharmaceutical company that engages in developing and commercializing drug products.

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