Harrow Health, Inc. (NASDAQ:HROW) Major Shareholder Purchases $120,547.35 in Stock

Harrow Health, Inc. (NASDAQ:HROW) major shareholder Opaleye Management Inc. bought 11,715 shares of the stock in a transaction on Tuesday, April 23rd. The shares were acquired at an average cost of $10.29 per share, for a total transaction of $120,547.35. Following the purchase, the insider now owns 3,786,715 shares in the company, valued at $38,965,297.35. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 Friday, April 19th, Opaleye Management Inc. purchased 29,400 shares of Harrow Health stock. The shares were acquired at an average price of $10.56 per share, for a total transaction of $310,464.00.
• On Thursday, March 28th, Opaleye Management Inc. purchased 50,000 shares of Harrow Health stock. The stock was acquired at an average cost of $12.82 per share, for a total transaction of $641,000.00.
• On Wednesday, March 20th, Opaleye Management Inc. purchased 50,600 shares of Harrow Health stock. The stock was purchased at an average cost of $9.65 per share, with a total value of $488,290.00.

Harrow Health Stock Down 0.5 %

Shares of HROW traded down $0.05 during trading hours on Wednesday, reaching $10.27. The stock had a trading volume of 406,218 shares, compared to its average volume of 443,338. The firm has a 50-day moving average of $11.57 and a 200 day moving average of $11.27. 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, Inc. has a 52 week low of $7.60 and a 52 week high of $28.25.

Harrow Health (NASDAQ:HROW) last released its quarterly 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 analyst estimates of $37.65 million. Harrow Health had a negative return on equity of 29.48% and a negative net margin of 18.75%. On average, equities analysts predict that Harrow Health, Inc. will post -0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in HROW. Bank of New York Mellon Corp increased its position in shares of Harrow Health by 3.3% in the third quarter. Bank of New York Mellon Corp now owns 188,825 shares of the company’s stock valued at $2,713,000 after acquiring an additional 5,981 shares during the last quarter. Woodmont Investment Counsel LLC acquired a new stake in Harrow Health in the third quarter valued at $990,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Harrow Health in the 3rd quarter valued at about $26,000. Jacob Asset Management of New York LLC lifted its stake in Harrow Health by 7.8% in the 3rd quarter. Jacob Asset Management of New York LLC now owns 91,779 shares of the company’s stock valued at $1,319,000 after purchasing an additional 6,615 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Harrow Health in the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 72.76% of the company’s stock.

Analysts Set New Price Targets

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

About Harrow Health

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.