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

Harrow, Inc. (NASDAQ:HROW) gapped up prior to trading on Tuesday . The stock had previously closed at $23.32, but opened at $28.93. Harrow shares last traded at $28.87, with a volume of 570,497 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HROW. HC Wainwright reaffirmed a “buy” rating and set a $57.00 price objective on shares of Harrow in a research note on Tuesday. B. Riley decreased their price target on shares of Harrow from $73.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th.

Harrow Stock Performance

The company’s fifty day moving average price is $29.83 and its two-hundred day moving average price is $38.56. The company has a debt-to-equity ratio of 3.23, a quick ratio of 1.44 and a current ratio of 1.55. The firm has a market capitalization of $971.58 million, a PE ratio of -29.02 and a beta of 0.69.

Hedge Funds Weigh In On Harrow

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of Harrow by 443.1% during the third quarter. JPMorgan Chase & Co. now owns 238,367 shares of the company’s stock valued at $10,717,000 after acquiring an additional 194,480 shares in the last quarter. Penserra Capital Management LLC bought a new position in Harrow in the third quarter worth about $1,986,000. Barclays PLC boosted its position in Harrow by 301.9% during the 3rd quarter. Barclays PLC now owns 52,593 shares of the company’s stock valued at $2,365,000 after purchasing an additional 39,506 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Harrow by 195.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 251,629 shares of the company’s stock valued at $11,313,000 after acquiring an additional 166,602 shares during the period. Finally, State Street Corp grew its position in Harrow by 2.2% in the 3rd quarter. State Street Corp now owns 730,973 shares of the company’s stock worth $32,865,000 after purchasing an additional 15,554 shares during the last quarter. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

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.