Harrow (NASDAQ:HROW) Shares Down 4.1% – Here’s Why

Shares of Harrow, Inc. (NASDAQ:HROW) dropped 4.1% on Thursday . The stock traded as low as $33.91 and last traded at $33.94. Approximately 55,004 shares changed hands during trading, a decline of 81% from the average daily volume of 292,720 shares. The stock had previously closed at $35.40.

Analysts Set New Price Targets

HROW has been the subject of several recent analyst reports. B. Riley decreased their price objective on shares of Harrow from $73.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. Lake Street Capital raised their price objective on shares of Harrow from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Craig Hallum raised their price objective on shares of Harrow from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, October 4th.

Harrow Price Performance

The company’s fifty day moving average price is $38.15 and its 200 day moving average price is $38.69. The company has a debt-to-equity ratio of 3.23, a quick ratio of 1.44 and a current ratio of 1.55. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -36.01 and a beta of 0.72.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers boosted its stake in Harrow by 8.2% during the 2nd quarter. Rhumbline Advisers now owns 43,021 shares of the company’s stock valued at $899,000 after purchasing an additional 3,253 shares during the period. Apis Capital Advisors LLC acquired a new position in Harrow during the 2nd quarter valued at about $1,660,000. Marshall Wace LLP acquired a new position in Harrow during the 2nd quarter valued at about $1,112,000. Deerfield Management Company L.P. Series C boosted its stake in Harrow by 55.7% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 25,447 shares of the company’s stock valued at $532,000 after purchasing an additional 9,105 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Harrow by 5.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,865 shares of the company’s stock valued at $248,000 after purchasing an additional 567 shares during the period. 72.76% of the stock is 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.