Harrow Inc Down 34.14% To $8.35 After Earnings Miss

Tuesday, November 14, 2023 - Harrow Inc (HROW) reported downside earnings and revenues today.

Harrow Inc's earnings came in at an EPS loss of $0.09 per share, 325% lower than estimates for an EPS of $0.04 per share. The firm's loss per share expanded by 50% since reporting a loss of $0.06 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were downbeat at $34.3 million. That is an increase of 50.13% in revenues from the year-ago report and is 8.82% lower than consensus estimates set at $37.6 million.

The stock is down 34.14% to $8.35 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 44. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Harrow Health Inc is an ophthalmology-focused pharmaceutical company. The company is specialized in the development, production, and sale of medications that offer competitive advantages and serve unmet needs in the marketplace. Its cornerstone of ophthalmology program consists of proprietary Dropless Therapy injectable and LessDrops topical formulations that are designed to address patient compliance issues and provide other compelling medical and economic benefits.