Insider Buying: Harrow, Inc. (NASDAQ:HROW) Major Shareholder Buys 11,715 Shares of Stock

Harrow, Inc. (NASDAQ:HROW) major shareholder Opaleye Management Inc. purchased 11,715 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were purchased at an average price of $10.29 per share, with a total value of $120,547.35. Following the completion of the acquisition, the insider now owns 3,786,715 shares of the company’s stock, valued at $38,965,297.35. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, April 25th, Opaleye Management Inc. acquired 20,000 shares of Harrow stock. The stock was bought at an average cost of $9.97 per share, with a total value of $199,400.00.
• On Friday, April 19th, Opaleye Management Inc. purchased 29,400 shares of Harrow stock. The shares were bought at an average price of $10.56 per share, for a total transaction of $310,464.00.
• On Thursday, March 28th, Opaleye Management Inc. acquired 50,000 shares of Harrow stock. The stock was acquired at an average price of $12.82 per share, with a total value of $641,000.00.
• On Wednesday, March 20th, Opaleye Management Inc. purchased 50,600 shares of Harrow stock. The stock was bought at an average price of $9.65 per share, for a total transaction of $488,290.00.

Harrow Price Performance

Shares of NASDAQ:HROW traded up $0.32 during trading on Tuesday, hitting $10.81. 109,519 shares of the stock were exchanged, compared to its average volume of 430,917. The company has a fifty day moving average price of $11.45 and a two-hundred day moving average price of $10.97. The company has a current ratio of 2.83, a quick ratio of 2.61 and a debt-to-equity ratio of 2.60. The company has a market cap of $382.46 million, a PE ratio of -14.41 and a beta of 0.58. Harrow, Inc. has a 12-month low of $7.60 and a 12-month high of $28.25.

Harrow (NASDAQ:HROW) last posted its quarterly earnings data on Tuesday, March 19th. The company reported ($0.27) EPS for the quarter. The firm had revenue of $36.36 million during the quarter, compared to analyst estimates of $37.65 million. Harrow had a negative return on equity of 29.48% and a negative net margin of 18.75%. On average, analysts forecast that Harrow, Inc. will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Harrow

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Harrow in the third quarter valued at about $26,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Harrow in the 3rd quarter worth about $34,000. China Universal Asset Management Co. Ltd. increased its position in shares of Harrow by 347.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,063 shares of the company’s stock valued at $46,000 after purchasing an additional 3,155 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Harrow by 122.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,073 shares of the company’s stock valued at $90,000 after acquiring an additional 4,440 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in Harrow by 12.7% in the 1st quarter. BNP Paribas Financial Markets now owns 16,941 shares of the company’s stock worth $224,000 after purchasing an additional 1,912 shares during the period. 72.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on HROW shares. Craig Hallum started coverage on Harrow in a research note on Thursday, April 11th. They issued a “buy” rating and a $24.00 price objective on the stock. B. Riley dropped their price objective on Harrow from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd.

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.