Harrow Health (NASDAQ:HROW) Coverage Initiated by Analysts at Aegis

Aegis assumed coverage on shares of Harrow Health (NASDAQ:HROW) in a research note released on Thursday, The Fly reports. The firm issued a buy rating on the stock.

Other analysts also recently issued research reports about the company. LADENBURG THALM/SH SH initiated coverage on Harrow Health in a research report on Friday, July 2nd. They set a buy rating and a $14.25 price target for the company. Zacks Investment Research downgraded Harrow Health from a buy rating to a hold rating in a research report on Wednesday, August 11th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $12.83.

Shares of NASDAQ HROW opened at $9.84 on Thursday. Harrow Health has a 52 week low of $4.65 and a 52 week high of $11.24. The business has a 50-day simple moving average of $9.22 and a two-hundred day simple moving average of $8.60. The company has a quick ratio of 11.00, a current ratio of 11.48 and a debt-to-equity ratio of 3.12. The company has a market cap of $264.64 million, a P/E ratio of 36.44 and a beta of 0.93.

Harrow Health (NASDAQ:HROW) last issued its earnings results on Tuesday, August 10th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.15). The company had revenue of $18.13 million during the quarter, compared to the consensus estimate of $15.63 million. Harrow Health had a return on equity of 12.02% and a net margin of 12.03%.

In related news, major shareholder Opaleye Management Inc. purchased 52,500 shares of the firm’s stock in a transaction on Thursday, August 19th. The shares were acquired at an average cost of $8.45 per share, with a total value of $443,625.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard L. Md Lindstrom sold 14,160 shares of Harrow Health stock in a transaction that occurred on Wednesday, September 15th. The stock was sold at an average price of $9.09, for a total value of $128,714.40. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at $909,000. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 93,575 shares of company stock worth $777,318. 16.67% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Harrow Health by 3.0% in the 1st quarter. BlackRock Inc. now owns 1,578,807 shares of the company’s stock worth $10,657,000 after purchasing an additional 46,143 shares during the period. Renaissance Technologies LLC increased its stake in shares of Harrow Health by 4.8% during the first quarter. Renaissance Technologies LLC now owns 1,564,212 shares of the company’s stock valued at $10,558,000 after buying an additional 71,000 shares during the period. Hancock Whitney Corp purchased a new position in shares of Harrow Health during the second quarter valued at approximately $134,000. Panagora Asset Management Inc. increased its stake in shares of Harrow Health by 2,047.5% during the first quarter. Panagora Asset Management Inc. now owns 25,126 shares of the company’s stock valued at $170,000 after buying an additional 23,956 shares during the period. Finally, Northern Oak Wealth Management Inc. purchased a new position in shares of Harrow Health during the first quarter valued at approximately $133,000. 49.31% of the stock is currently owned by institutional investors and hedge funds.

About Harrow Health

Harrow Health, Inc engages in the development, production, and sale of innovative medications. It operates through the Pharmaceutical Compounding and Pharmaceutical Drug Development segments. The Pharmaceutical Compounding segment focuses on the operations of ImprimisRx business. The company was founded by Mark L.

Further Reading: What is Cost of Goods Sold (COGS)?

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