Harrow (NASDAQ:HROW) Shares Down 7.3% - Here's Why

Harrow, Inc. (NASDAQ:HROW - Get Free Report)'s stock price dropped 7.3% during trading on Friday . The stock traded as low as $39.56 and last traded at $39.72. Approximately 156,991 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 506,457 shares. The stock had previously closed at $42.86.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HROW. B. Riley reissued a "buy" rating and issued a $50.00 price objective on shares of Harrow in a report on Thursday, August 29th. Craig Hallum upped their price objective on Harrow from $45.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Finally, Lake Street Capital boosted their target price on shares of Harrow from $45.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, October 4th.

Harrow Price Performance

The firm has a market capitalization of $1.41 billion, a PE ratio of -42.03 and a beta of 0.76. The company has a quick ratio of 2.43, a current ratio of 2.60 and a debt-to-equity ratio of 3.18. The stock has a 50-day moving average price of $47.84 and a 200 day moving average price of $32.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in shares of Harrow by 12.7% during the first quarter. BNP Paribas Financial Markets now owns 16,941 shares of the company's stock valued at $224,000 after acquiring an additional 1,912 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Harrow by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,829,805 shares of the company's stock valued at $24,208,000 after purchasing an additional 21,253 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Harrow by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,672 shares of the company's stock worth $221,000 after purchasing an additional 1,033 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Harrow during the first quarter worth $185,000. Finally, Opaleye Management Inc. raised its position in shares of Harrow by 2.6% in the first quarter. Opaleye Management Inc. now owns 3,920,600 shares of the company's stock valued at $51,870,000 after buying an additional 100,600 shares during the last quarter. Institutional investors and hedge funds 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.

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