Opaleye Management Inc. Buys 29,400 Shares of Harrow, Inc. (NASDAQ:HROW) Stock

Harrow, Inc. (NASDAQ:HROW) major shareholder Opaleye Management Inc. bought 29,400 shares of Harrow stock in a transaction on Friday, April 19th. The shares were purchased at an average cost of $10.56 per share, with a total value of $310,464.00. Following the completion of the purchase, the insider now directly owns 3,775,000 shares in the company, valued at $39,864,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Thursday, April 25th, Opaleye Management Inc. bought 20,000 shares of Harrow stock. The shares were acquired at an average cost of $9.97 per share, with a total value of $199,400.00.
• On Tuesday, April 23rd, Opaleye Management Inc. bought 11,715 shares of Harrow stock. The stock was purchased at an average price of $10.29 per share, for a total transaction of $120,547.35.
• On Thursday, March 28th, Opaleye Management Inc. purchased 50,000 shares of Harrow stock. The stock was bought at an average price of $12.82 per share, for a total transaction of $641,000.00.
• On Wednesday, March 20th, Opaleye Management Inc. bought 50,600 shares of Harrow stock. The stock was bought at an average cost of $9.65 per share, with a total value of $488,290.00.

Harrow Price Performance

Harrow stock traded up $0.32 during midday trading on Tuesday, hitting $10.81. 109,519 shares of the company’s stock were exchanged, compared to its average volume of 430,917. Harrow, Inc. has a 52-week low of $7.60 and a 52-week high of $28.25. The company has a debt-to-equity ratio of 2.60, a quick ratio of 2.61 and a current ratio of 2.83. The stock has a 50-day moving average price of $11.45 and a two-hundred day moving average price of $10.97. The company has a market cap of $382.46 million, a P/E ratio of -14.41 and a beta of 0.58.

Harrow (NASDAQ:HROW) last issued its earnings results on Tuesday, March 19th. The company reported ($0.27) EPS for the quarter. The business had revenue of $36.36 million for the quarter, compared to analysts’ expectations of $37.65 million. Harrow had a negative net margin of 18.75% and a negative return on equity of 29.48%. On average, equities research analysts forecast that Harrow, Inc. will post -0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HROW has been the subject of several research analyst reports. Craig Hallum initiated coverage on shares of Harrow in a report on Thursday, April 11th. They issued a “buy” rating and a $24.00 price target for the company. B. Riley dropped their price objective on Harrow from $30.00 to $26.00 and set a “buy” rating for the company in a report on Friday, March 22nd.

Hedge Funds Weigh In On Harrow

Several large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its stake in shares of Harrow by 12.7% during the first quarter. BNP Paribas Financial Markets now owns 16,941 shares of the company’s stock valued at $224,000 after buying an additional 1,912 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in Harrow by 66.0% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,745 shares of the company’s stock worth $89,000 after purchasing an additional 2,682 shares during the period. Equitable Trust Co. grew its position in Harrow by 2.9% during the 1st quarter. Equitable Trust Co. now owns 83,500 shares of the company’s stock worth $1,105,000 after purchasing an additional 2,345 shares during the period. Rice Hall James & Associates LLC boosted its stake in shares of Harrow by 5.9% during the 1st quarter. Rice Hall James & Associates LLC now owns 245,101 shares of the company’s stock worth $3,243,000 after acquiring an additional 13,637 shares in the last quarter. Finally, Drive Wealth Management LLC acquired a new stake in Harrow in the 1st quarter valued at about $240,000. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

About Harrow

Harrow Health, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company also holds equity interests in Surface Ophthalmics, Inc, a clinical-stage pharmaceutical company that focuses on the development and commercialization of therapeutics for ocular surface diseases; Melt Pharmaceuticals, Inc, a clinical-stage pharmaceutical company that focused on the development and commercialization of proprietary non-intravenous, sedation, and anesthesia therapeutics for human medical procedures in hospital, outpatient, and in-office settings; and Eton Pharmaceuticals, Inc, a commercial-stage pharmaceutical company that engages in developing and commercializing drug products.