B. Riley Securities slashes price target on Harrow Health Inc. [HROW] – find out why.

Harrow Health Inc. [NASDAQ: HROW] closed the trading session at $14.21 on 12/23/22. The day’s price range saw the stock hit a low of $13.94, while the highest price level was $14.4799. The company report on December 21, 2022 that Melt Pharmaceuticals’ MELT-300 (Midazolam 3mg and Ketamine 50mg Sublingual Tablet) Achieves Primary Sedation Endpoint in Phase 2 Pivotal Efficacy and Safety Study.

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MELT-300 Statistically Superior for Procedural Sedation Compared to All Comparator Treatment Arms, Including Midazolam 3mg (P=0.0129) and Ketamine 50mg (P=0.0096).

MELT-300 Treatment Arm 50% Less Likely to Require Rescue Sedation Compared to Midazolam (P=0.0198).

The stocks have a year to date performance of 64.47 percent and weekly performance of 10.50 percent. The stock has been moved at 92.55 percent over the last six months. The stock has performed 32.93 percent around the most recent 30 days and changed 86.73 percent over the most recent 3-months.

If compared to the average trading volume of 259.67K shares, HROW reached to a volume of 391320 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Harrow Health Inc. [HROW]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HROW shares is $16.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HROW stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

B. Riley Securities have made an estimate for Harrow Health Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 08, 2022. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Buy. The new note on the price target was released on October 14, 2021, representing the official price target for Harrow Health Inc. stock. Previously, the target price had yet another raise to $15, while Aegis Capital analysts kept a Buy rating on HROW stock.

The Average True Range (ATR) for Harrow Health Inc. is set at 0.86, with the Price to Sales ratio for HROW stock in the period of the last 12 months amounting to 4.49. The Price to Book ratio for the last quarter was 355.25, with the Price to Cash per share for the same quarter was set at 1.76. Price to Free Cash Flow for HROW in the course of the last twelve months was 198.66 with Quick ratio for the last quarter at 3.20.

HROW stock trade performance evaluation

Harrow Health Inc. [HROW] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.50. With this latest performance, HROW shares gained by 32.93% in over the last four-week period, additionally plugging by 92.55% over the last 6 months – not to mention a rise of 54.46% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HROW stock in for the last two-week period is set at 66.88, with the RSI for the last a single of trading hit 70.33, and the three-weeks RSI is set at 64.53 for Harrow Health Inc. [HROW]. The present Moving Average for the last 50 days of trading for this stock 11.75, while it was recorded at 13.12 for the last single week of trading, and 8.70 for the last 200 days.

Harrow Health Inc. [HROW]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Harrow Health Inc. [HROW] shares currently have an operating margin of +2.43 and a Gross Margin at +74.87. Harrow Health Inc.’s Net Margin is presently recorded at -24.85.

Return on Equity for this stock declined to -93.62, with Return on Assets sitting at -23.12.

Harrow Health Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 3.50.

Earnings per share (EPS) analysis for Harrow Health Inc. [HROW] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HROW. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Harrow Health Inc. go to 15.00%.

Harrow Health Inc. [HROW]: Insider Ownership positions

There are presently around $217 million, or 52.80% of HROW stock, in the hands of institutional investors. The top three institutional holders of HROW stocks are: OPALEYE MANAGEMENT INC. with ownership of 3,343,817, which is approximately 0.333% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 1,180,606 shares of the stock with an approximate value of $16.78 million in HROW stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $15.81 million in HROW stock with ownership of nearly -4.727% of the company’s market capitalization.

Positions in Harrow Health Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 33 institutional holders increased their position in Harrow Health Inc. [NASDAQ:HROW] by around 661,857 shares. Additionally, 36 investors decreased positions by around 1,570,658 shares, while 24 investors held positions by with 13,054,020 shares. The mentioned changes placed institutional holdings at 15,286,535 shares, according to the latest SEC report filing. HROW stock had 6 new institutional investments in for a total of 340,456 shares, while 14 institutional investors sold positions of 571,016 shares during the same period.


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