Harrow Health, Inc. (NASDAQ:HROW) Major Shareholder Acquires $199,400.00 in Stock

Harrow Health, Inc. (NASDAQ:HROW) major shareholder Opaleye Management Inc. acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was purchased at an average cost of $9.97 per share, for a total transaction of $199,400.00. Following the completion of the purchase, the insider now directly owns 3,815,000 shares of the company’s stock, valued at $38,035,550. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 Tuesday, April 23rd, Opaleye Management Inc. acquired 11,715 shares of Harrow Health stock. The stock was purchased at an average cost of $10.29 per share, for a total transaction of $120,547.35.
• On Friday, April 19th, Opaleye Management Inc. bought 29,400 shares of Harrow Health stock. The shares were bought at an average cost of $10.56 per share, for a total transaction of $310,464.00.
• On Thursday, March 28th, Opaleye Management Inc. bought 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 shares were bought at an average cost of $9.65 per share, for a total transaction of $488,290.00.

Harrow Health Price Performance

HROW stock traded down $0.27 during midday trading on Thursday, hitting $10.00. The stock had a trading volume of 449,827 shares, compared to its average volume of 443,419. 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 1-year low of $7.60 and a 1-year high of $28.25. The business has a fifty day moving average price of $11.55 and a two-hundred day moving average price of $11.26.

Harrow Health (NASDAQ:HROW) last announced its quarterly earnings data on Tuesday, March 19th. The company reported ($0.27) earnings per share for the quarter. Harrow Health had a negative net margin of 18.75% and a negative return on equity of 29.48%. The company had revenue of $36.36 million for the quarter, compared to analyst estimates of $37.65 million. Equities research analysts expect that Harrow Health, Inc. will post -0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Harrow Health

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Harrow Health in the 3rd quarter worth about $26,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Harrow Health in the 3rd quarter worth about $34,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Harrow Health by 347.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,063 shares of the company’s stock worth $46,000 after acquiring an additional 3,155 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Harrow Health by 122.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,073 shares of the company’s stock worth $90,000 after acquiring an additional 4,440 shares during the last quarter. Finally, Drive Wealth Management LLC acquired a new stake in shares of Harrow Health in the 1st quarter worth about $240,000. Institutional investors and hedge funds own 72.76% of the company’s stock.

Analysts Set New Price Targets

HROW has been the topic of a number of research reports. Craig Hallum started coverage on shares of Harrow Health in a research note on Thursday, April 11th. They set a “buy” rating and a $24.00 target price on the stock. B. Riley reduced 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.

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.