Harrow (NASDAQ:HROW) Shares Up 6% – Still a Buy?

Harrow, Inc. (NASDAQ:HROW)’s share price shot up 6% during mid-day trading on Wednesday . The stock traded as high as $42.10 and last traded at $42.07. 228,307 shares were traded during mid-day trading, a decline of 55% from the average session volume of 513,006 shares. The stock had previously closed at $39.70.

Analyst Ratings Changes

Several research analysts recently weighed in on HROW shares. B. Riley reiterated a “buy” rating and set a $50.00 price target on shares of Harrow in a research report on Thursday, August 29th. Craig Hallum raised their target price on Harrow from $45.00 to $65.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, Lake Street Capital lifted their price objective on Harrow from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 4th.

Harrow Price Performance

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 company’s 50 day moving average is $47.87 and its 200-day moving average is $32.98. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -44.18 and a beta of 0.76.

Institutional Investors Weigh In On Harrow

Hedge funds have recently added to or reduced their stakes in the company. Opaleye Management Inc. boosted its position in shares of Harrow by 2.6% during the 1st quarter. Opaleye Management Inc. now owns 3,920,600 shares of the company’s stock valued at $51,870,000 after acquiring an additional 100,600 shares during the last quarter. Private Capital Management LLC boosted its stake in Harrow by 7.8% in the 1st quarter. Private Capital Management LLC now owns 3,012,393 shares of the company’s stock worth $39,854,000 after purchasing an additional 217,896 shares during the period. Vanguard Group Inc. lifted its position in shares of Harrow by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,829,805 shares of the company’s stock worth $24,208,000 after acquiring an additional 21,253 shares during the period. State Street Corp boosted its position in Harrow by 2.2% in the 3rd quarter. State Street Corp now owns 730,973 shares of the company’s stock valued at $32,865,000 after buying an additional 15,554 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Harrow by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 722,730 shares of the company’s stock worth $32,500,000 after buying an additional 3,960 shares in the last quarter. Institutional investors own 72.76% of the company’s stock.

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.