Harrow (NASDAQ:HROW) Insider Amir Shojaei Sells 11,250 Shares

Harrow, Inc. (NASDAQ:HROW) insider Amir Shojaei sold 11,250 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $40.00, for a total transaction of $450,000.00. Following the completion of the sale, the insider directly owned 11,250 shares of the company’s stock, valued at $450,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Harrow Stock Down 1.4%

Shares of NASDAQ HROW traded down $0.56 during midday trading on Monday, reaching $39.47. 323,068 shares of the company’s stock traded hands, compared to its average volume of 730,674. The company has a quick ratio of 2.08, a current ratio of 2.24 and a debt-to-equity ratio of 19.70. The stock’s 50 day simple moving average is $40.94 and its 200-day simple moving average is $39.86. Harrow, Inc. has a one year low of $28.54 and a one year high of $54.85. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -39.47 and a beta of 0.28.

Harrow (NASDAQ:HROW) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.28). The business had revenue of $70.66 million during the quarter, compared to the consensus estimate of $70.35 million. Harrow had a negative return on equity of 38.00% and a negative net margin of 13.51%. On average, analysts predict that Harrow, Inc. will post 0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

HROW has been the subject of several recent research reports. Cantor Fitzgerald reduced their price target on Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Zacks Research downgraded Harrow from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a research note on Monday, July 20th. Wall Street Zen upgraded shares of Harrow from a “sell” rating to a “hold” rating in a report on Saturday. Finally, BTIG Research reissued a “buy” rating and set a $63.00 price target on shares of Harrow in a research report on Tuesday, August 11th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Harrow has a consensus rating of “Moderate Buy” and an average price target of $69.43.

Hedge Funds Weigh In On Harrow

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Harrow in the second quarter worth about $116,373,000. Bamco Inc. NY acquired a new position in shares of Harrow during the second quarter valued at about $34,373,000. Jupiter Topco LLC acquired a new position in shares of Harrow during the second quarter valued at about $24,596,000. Rice Hall James & Associates LLC purchased a new position in shares of Harrow in the 2nd quarter valued at approximately $16,459,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Harrow by 56.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company’s stock valued at $20,428,000 after purchasing an additional 208,972 shares during the last quarter. 72.76% of the stock is owned by hedge funds and other institutional investors.

Harrow Company Profile

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.