Zacks Investment Research Lowers Harrow Health (NASDAQ:HROW) to Sell

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Zacks Investment Research cut shares of Harrow Health (NASDAQ:HROW) from a buy rating to a sell rating in a research note released on Saturday, Zacks.com reports.

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 issued reports on HROW. Lake Street Capital set a $15.00 price target on Harrow Health and gave the company a buy rating in a report on Friday, August 16th. ValuEngine downgraded shares of Harrow Health from a hold rating to a sell rating in a research note on Monday, August 12th.

Shares of NASDAQ HROW opened at $5.35 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.60 and a current ratio of 3.87. The firm has a market capitalization of $134.66 million, a price-to-earnings ratio of 8.77 and a beta of 0.06. The stock has a 50 day moving average price of $6.60 and a 200 day moving average price of $6.09. Harrow Health has a 52-week low of $2.22 and a 52-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 (EPS) 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 analysts’ expectations of $12.55 million. Harrow Health had a net margin of 51.32% and a return on equity of 50.32%. Analysts forecast that Harrow Health will post -0.19 earnings per share for the current year.

In related news, Director Robert J. Kammer sold 6,500 shares of the business’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 value of $44,785.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.43% of the company’s stock.

Large investors have recently modified their holdings of the stock. FineMark National Bank & Trust bought a new position in Harrow Health in the first quarter worth approximately $113,000. H D Vest Advisory Services bought a new position in Harrow Health in the second quarter worth approximately $123,000. Stone Ridge Asset Management LLC raised its stake in Harrow Health by 35.2% in the second quarter. Stone Ridge Asset Management LLC now owns 14,874 shares of the company’s stock worth $129,000 after buying an additional 3,874 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Harrow Health in the second quarter worth approximately $138,000. Finally, Wells Fargo & Company MN bought a new position in Harrow Health in the second quarter worth approximately $158,000. 36.28% of the stock is owned by institutional investors.

Harrow Health Company Profile

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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