Harrow Health, Inc. (NASDAQ:HROW) Major Shareholder Opaleye Management Inc. Purchases 11,715 Shares

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

Harrow Health Price Performance

Harrow Health stock traded down $0.05 during mid-day trading on Wednesday, reaching $10.27. 406,218 shares of the company traded hands, compared to its average volume of 443,338. Harrow Health, Inc. has a fifty-two week low of $7.60 and a fifty-two week high of $28.25. The firm’s fifty day moving average is $11.57 and its two-hundred day moving average is $11.27. The company has a current ratio of 2.83, a quick ratio of 2.61 and a debt-to-equity ratio of 2.60.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Rice Hall James & Associates LLC increased its holdings in Harrow Health by 5.9% in the 1st quarter. Rice Hall James & Associates LLC now owns 245,101 shares of the company’s stock worth $3,243,000 after acquiring an additional 13,637 shares in the last quarter. Drive Wealth Management LLC purchased a new stake in Harrow Health during the 1st quarter worth approximately $240,000. Wasatch Advisors LP raised its holdings in shares of Harrow Health by 28.3% during the first quarter. Wasatch Advisors LP now owns 388,132 shares of the company’s stock valued at $5,135,000 after acquiring an additional 85,600 shares during the last quarter. Woodmont Investment Counsel LLC raised its stake in Harrow Health by 73.3% in the 1st quarter. Woodmont Investment Counsel LLC now owns 211,579 shares of the company’s stock valued at $2,799,000 after purchasing an additional 89,510 shares during the last quarter. Finally, Private Capital Management LLC lifted its holdings 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 purchasing an additional 1,377,597 shares in the last quarter. 72.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HROW has been the subject of a number of analyst reports. Craig Hallum initiated coverage on Harrow Health in a research report on Thursday, April 11th. They issued a “buy” rating and a $24.00 price target for the company. B. Riley decreased their price target on 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.