Harrow Health (NASDAQ:HROW) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Harrow Health (NASDAQ:HROW) from a hold rating to a buy rating in a report published on Tuesday, Zacks.com reports. Zacks Investment Research currently has $6.00 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 also recently weighed in on the stock. Lake Street Capital set a $15.00 price target on shares of Harrow Health and gave the company a buy rating in a research report on Friday, August 16th. ValuEngine downgraded shares of Harrow Health from a hold rating to a sell rating in a research report on Monday, August 12th. Finally, TheStreet upgraded shares of Harrow Health from a d- rating to a c rating in a research report on Wednesday, May 1st.

Shares of NASDAQ:HROW opened at $5.11 on Tuesday. The company has a market capitalization of $129.60 million, a price-to-earnings ratio of 8.38 and a beta of 0.06. The firm’s 50 day simple moving average is $7.19 and its 200 day simple moving average is $6.15. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.87 and a quick ratio of 3.60. Harrow Health has a fifty-two week low of $2.22 and a fifty-two week high of $8.99.

Harrow Health (NASDAQ:HROW) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The firm had revenue of $13.52 million during the quarter, compared to analyst estimates of $12.55 million. Harrow Health had a net margin of 51.32% and a return on equity of 50.32%. Equities research analysts expect that Harrow Health will post -0.09 earnings per share for the current year.

In other Harrow Health news, Director Robert J. Kammer sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $6.89, for a total transaction of $44,785.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert J. Kammer sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $5.78, for a total transaction of $57,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 23,000 shares of company stock worth $154,000 over the last 90 days. Corporate insiders own 12.43% of the company’s stock.

A number of hedge funds have recently made changes to their positions in HROW. Acadian Asset Management LLC acquired a new stake in shares of Harrow Health in the first quarter valued at approximately $1,983,000. Westside Investment Management Inc. acquired a new stake in shares of Harrow Health in the second quarter valued at approximately $199,000. Wedge Capital Management L L P NC acquired a new stake in shares of Harrow Health in the second quarter valued at approximately $1,330,000. Birchview Capital LP acquired a new stake in shares of Harrow Health in the first quarter valued at approximately $896,000. Finally, EAM Global Investors LLC acquired a new stake in shares of Harrow Health in the first quarter valued at approximately $171,000. Hedge funds and other institutional investors own 36.28% of the company’s stock.

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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