Insider Buying: Harrow Health, Inc. (NASDAQ:HROW) Major Shareholder Buys 29,400 Shares of Stock

Harrow Health, Inc. (NASDAQ:HROW) major shareholder Opaleye Management Inc. purchased 29,400 shares of the stock in a transaction on Friday, April 19th. The stock was acquired at an average cost of $10.56 per share, for a total transaction of $310,464.00. Following the completion of the acquisition, the insider now owns 3,775,000 shares of the company’s stock, valued at approximately $39,864,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, March 28th, Opaleye Management Inc. acquired 50,000 shares of Harrow Health stock. The stock was bought at an average cost of $12.82 per share, with a total value of $641,000.00.
• On Wednesday, March 20th, Opaleye Management Inc. bought 50,600 shares of Harrow Health stock. The shares were bought at an average cost of $9.65 per share, for a total transaction of $488,290.00.

Harrow Health Price Performance

Shares of NASDAQ:HROW traded down $0.40 during trading on Friday, reaching $10.45. 681,038 shares of the company’s stock traded hands, compared to its average volume of 439,065. The firm has a market cap of $369.51 million, a PE ratio of -13.93 and a beta of 0.48. Harrow Health, Inc. has a fifty-two week low of $7.60 and a fifty-two week high of $28.25. The company has a quick ratio of 2.61, a current ratio of 2.83 and a debt-to-equity ratio of 2.60. The company has a 50-day simple moving average of $11.63 and a 200-day simple moving average of $11.38.

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

Institutional Investors Weigh In On Harrow Health

Institutional investors have recently added to or reduced their stakes in the stock. Braidwell LP acquired a new position in Harrow Health during the first quarter worth $30,736,000. Private Capital Management LLC raised its position in shares of Harrow Health by 97.2% during the 4th quarter. Private Capital Management LLC now owns 2,794,497 shares of the company’s stock worth $31,298,000 after purchasing an additional 1,377,597 shares during the last quarter. BlackRock Inc. lifted its stake in Harrow Health by 261.1% in the 2nd quarter. BlackRock Inc. now owns 1,789,382 shares of the company’s stock valued at $34,070,000 after buying an additional 1,293,806 shares in the last quarter. State Street Corp boosted its holdings in Harrow Health by 495.7% in the 2nd quarter. State Street Corp now owns 583,873 shares of the company’s stock worth $11,117,000 after buying an additional 485,860 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY purchased a new stake in Harrow Health during the 3rd quarter worth approximately $5,655,000. Institutional investors and hedge funds own 72.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Harrow Health Company Profile

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.