Harrow (NASDAQ:HROW) Shares Up 7.7% - Should You Buy?

Harrow, Inc. (NASDAQ:HROW - Get Free Report) shares shot up 7.7% on Thursday . The stock traded as high as $36.24 and last traded at $36.15. 295,975 shares changed hands during trading, a decline of 41% from the average session volume of 497,813 shares. The stock had previously closed at $33.55.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on HROW shares. Lake Street Capital lifted their price target on Harrow from $45.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, October 4th. Craig Hallum lifted their target price on shares of Harrow from $45.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Finally, B. Riley lowered their price target on shares of Harrow from $73.00 to $69.00 and set a "buy" rating on the stock in a research report on Wednesday, December 4th.

Harrow Stock Up 9.0 %

The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -38.89 and a beta of 0.69. The firm's 50 day moving average is $40.82 and its two-hundred day moving average is $37.53. The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 3.23.

Hedge Funds Weigh In On Harrow

Several institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new position in shares of Harrow in the 3rd quarter valued at about $29,000. nVerses Capital LLC acquired a new position in Harrow during the second quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC grew its stake in Harrow by 2,730.7% during the second 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. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Harrow by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,283 shares of the company's stock worth $57,000 after acquiring an additional 227 shares in the last quarter. Finally, Hills Bank & Trust Co purchased a new position in shares of Harrow in the 3rd quarter valued at $107,000. 72.76% of the stock is currently owned by institutional investors and hedge funds.

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.