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

Harrow Health, Inc. (NASDAQ:HROW) major shareholder Opaleye Management Inc. bought 29,400 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was purchased at an average cost of $10.56 per share, with a total value of $310,464.00. Following the transaction, the insider now directly owns 3,775,000 shares in the company, valued at approximately $39,864,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

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

Harrow Health Stock Down 3.7 %

HROW stock traded down $0.40 on Friday, reaching $10.45. 681,038 shares of the company traded hands, compared to its average volume of 439,065. The firm has a fifty day simple moving average of $11.63 and a 200-day simple moving average of $11.38. The company has a market cap of $369.51 million, a P/E ratio of -13.93 and a beta of 0.48. Harrow Health, Inc. has a one year low of $7.60 and a one year high of $28.25. The company has a debt-to-equity ratio of 2.60, a current ratio of 2.83 and a quick ratio of 2.61.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Harrow Health

Institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP lifted its stake in shares of Harrow Health by 28.3% in the first quarter. Wasatch Advisors LP now owns 388,132 shares of the company’s stock worth $5,135,000 after buying an additional 85,600 shares in the last quarter. Woodmont Investment Counsel LLC raised its holdings in Harrow Health by 73.3% in the 1st quarter. Woodmont Investment Counsel LLC now owns 211,579 shares of the company’s stock worth $2,799,000 after acquiring an additional 89,510 shares during the last quarter. Private Capital Management LLC lifted its position in Harrow Health by 97.2% in the 4th quarter. Private Capital Management LLC now owns 2,794,497 shares of the company’s stock valued at $31,298,000 after acquiring an additional 1,377,597 shares in the last quarter. Vanguard Group Inc. boosted its stake in Harrow Health by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 1,808,552 shares of the company’s stock valued at $20,256,000 after purchasing an additional 48,673 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Harrow Health by 34.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 54,221 shares of the company’s stock worth $607,000 after purchasing an additional 13,926 shares in the last quarter. 72.76% of the stock is owned by hedge funds and other institutional investors.

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.