Harrow (NASDAQ:HROW) Shares Down 7.7% Following Analyst Downgrade

Harrow, Inc. (NASDAQ:HROW - Get Free Report)'s stock price was down 7.7% on Tuesday after B. Riley lowered their price target on the stock from $69.00 to $65.00. B. Riley currently has a buy rating on the stock. Harrow traded as low as $24.53 and last traded at $24.55. Approximately 152,015 shares were traded during trading, a decline of 69% from the average daily volume of 497,613 shares. The stock had previously closed at $26.60.

Separately, HC Wainwright restated a "buy" rating and set a $57.00 price target on shares of Harrow in a report on Monday, March 31st.

Institutional Investors Weigh In On Harrow

Several institutional investors and hedge funds have recently modified their holdings of the business. GF Fund Management CO. LTD. acquired a new position in shares of Harrow during the 4th quarter valued at about $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Harrow by 89.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,940 shares of the company's stock valued at $2,078,000 after purchasing an additional 29,262 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Harrow by 30.4% in the fourth quarter. Two Sigma Advisers LP now owns 38,200 shares of the company's stock worth $1,282,000 after buying an additional 8,900 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of Harrow by 483.2% in the fourth quarter. Two Sigma Investments LP now owns 150,355 shares of the company's stock worth $5,044,000 after buying an additional 124,574 shares during the last quarter. Finally, Rafferty Asset Management LLC bought a new stake in shares of Harrow during the 4th quarter worth $270,000. Institutional investors and hedge funds own 72.76% of the company's stock.

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Harrow Stock Down 2.2 %

The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 3.23. The firm's fifty day moving average is $27.98 and its 200 day moving average is $37.36. The stock has a market cap of $838.58 million, a P/E ratio of -25.02 and a beta of 0.46.

Harrow (NASDAQ:HROW - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.14. The business had revenue of $66.83 million during the quarter, compared to analysts' expectations of $66.01 million. Harrow had a negative return on equity of 45.57% and a negative net margin of 19.75%. As a group, equities research analysts forecast that Harrow, Inc. will post -0.53 EPS for the current year.

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.