Penn Capital Management Company LLC Buys New Position in Harrow, Inc. $HROW

Penn Capital Management Company LLC acquired a new stake in shares of Harrow, Inc. (NASDAQ:HROW) during the 3rd quarter, HoldingsChannel reports. The firm acquired 325,478 shares of the company’s stock, valued at approximately $15,717,000.

Other institutional investors have also recently made changes to their positions in the company. Luxor Capital Group LP purchased a new position in Harrow during the third quarter worth about $14,807,000. New York State Common Retirement Fund grew its holdings in shares of Harrow by 1,944.7% in the third quarter. New York State Common Retirement Fund now owns 213,789 shares of the company’s stock valued at $10,300,000 after acquiring an additional 203,333 shares in the last quarter. Diametric Capital LP purchased a new stake in shares of Harrow during the second quarter valued at approximately $4,748,000. Bank of America Corp DE lifted its holdings in Harrow by 266.8% during the second quarter. Bank of America Corp DE now owns 213,448 shares of the company’s stock worth $6,519,000 after acquiring an additional 155,258 shares during the period. Finally, Divisadero Street Capital Management LP purchased a new position in Harrow in the second quarter worth $4,293,000. Institutional investors own 72.76% of the company’s stock.

Harrow Trading Up 0.9%

NASDAQ HROW opened at $35.23 on Wednesday. The stock has a 50 day simple moving average of $45.47 and a two-hundred day simple moving average of $43.61. Harrow, Inc. has a fifty-two week low of $20.85 and a fifty-two week high of $54.85. The company has a debt-to-equity ratio of 4.67, a quick ratio of 2.06 and a current ratio of 2.20. The stock has a market cap of $1.31 billion, a P/E ratio of -207.22 and a beta of 0.05.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HROW shares. William Blair reissued an “outperform” rating on shares of Harrow in a report on Tuesday, March 3rd. HC Wainwright lifted their target price on shares of Harrow from $69.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Zacks Research lowered shares of Harrow from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a report on Thursday, January 22nd. Finally, Cantor Fitzgerald reduced their price target on Harrow from $94.00 to $91.00 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. Eight research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.14.

About Harrow

Harrow Health, Inc (NASDAQ: HROW) is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.