Zacks Investment Research upgraded shares of Harrow Health (NASDAQ:HROW) from a sell rating to a buy rating in a report issued on Wednesday, Zacks.com reports. They currently have $7.00 price objective on the stock.
According to Zacks, “Harrow Health Inc. owns a portfolio of healthcare businesses, including an ophthalmology pharmaceutical compounding business, ImprimisRx. The company holds Eton Pharmaceuticals, Surface Pharmaceuticals, Melt Pharmaceuticals, Mayfield Pharmaceuticals and Radley Pharmaceuticals as subsidiaries. Harrow Health Inc., formerly known as Imprimis Pharmaceuticals Inc., is based in San Diego, United States. “
A number of other analysts have also recently commented on the stock. B. Riley dropped their target price on shares of Harrow Health from $12.00 to $10.00 and set a buy rating on the stock in a report on Tuesday, April 7th. TheStreet cut shares of Harrow Health from a c- rating to a d rating in a report on Thursday, May 28th. Finally, ValuEngine upgraded shares of Harrow Health from a hold rating to a buy rating in a report on Monday, May 11th. Four investment analysts have rated the stock with a buy rating, Harrow Health currently has a consensus rating of Buy and an average price target of $10.67.
NASDAQ:HROW traded down $0.47 during trading hours on Wednesday, hitting $5.85. The company had a trading volume of 3,880 shares, compared to its average volume of 158,691. The company has a market capitalization of $152.43 million, a PE ratio of -6.88 and a beta of 0.87. The stock has a 50-day moving average price of $4.84 and a 200 day moving average price of $5.66. Harrow Health has a 52 week low of $3.33 and a 52 week high of $8.99. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.95 and a quick ratio of 1.65.
Harrow Health (NASDAQ:HROW) last announced its earnings results on Monday, May 11th. The company reported ($0.50) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.45). Harrow Health had a negative net margin of 47.54% and a negative return on equity of 32.90%. The business had revenue of $11.82 million for the quarter, compared to the consensus estimate of $10.14 million. Analysts anticipate that Harrow Health will post -0.47 EPS for the current fiscal year.
In related news, major shareholder Opaleye Management Inc. purchased 50,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was purchased at an average price of $5.88 per share, with a total value of $294,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders bought 96,800 shares of company stock valued at $548,650. 12.64% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Citigroup Inc. raised its position in Harrow Health by 374.2% in the 1st quarter. Citigroup Inc. now owns 9,380 shares of the company’s stock worth $36,000 after buying an additional 7,402 shares during the last quarter. Advisor Group Holdings Inc. purchased a new position in Harrow Health in the 1st quarter worth about $36,000. Tower Research Capital LLC TRC raised its position in Harrow Health by 183.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,154 shares of the company’s stock worth $64,000 after buying an additional 5,278 shares during the last quarter. Laurion Capital Management LP purchased a new position in Harrow Health in the 4th quarter worth about $111,000. Finally, California Public Employees Retirement System purchased a new position in Harrow Health in the 4th quarter worth about $122,000. 38.90% of the stock is owned by hedge funds and other institutional investors.
About Harrow Health
Harrow Health, Inc owns a portfolio of healthcare businesses, primarily ophthalmology pharmaceutical compounding business, ImprimisRx, in the United States. It develops, produces, and sells medications, including ophthalmology focused compounding formulations; and sterile and non-sterile compounded medications to physicians and patients.
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