Harrow Health, Inc. (NASDAQ:HROW) Major Shareholder Opaleye Management Inc. Acquires 29,400 Shares of Stock

Harrow Health, Inc. (NASDAQ:HROW) major shareholder Opaleye Management Inc. bought 29,400 shares of the stock in a transaction that occurred on Friday, April 19th. The stock was acquired at an average price of $10.56 per share, for a total transaction of $310,464.00. Following the completion of the transaction, the insider now owns 3,775,000 shares in the company, valued at $39,864,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major 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 Thursday, March 28th, Opaleye Management Inc. bought 50,000 shares of Harrow Health stock. The stock was acquired at an average price 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 acquired at an average price of $9.65 per share, for a total transaction of $488,290.00.

Harrow Health Stock Down 3.7 %

Shares of HROW stock opened at $10.45 on Friday. Harrow Health, Inc. has a 1 year low of $7.60 and a 1 year high of $28.25. The business’s fifty day moving average is $11.63 and its 200-day moving average is $11.38. 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 quarterly earnings results on Tuesday, March 19th. The company reported ($0.27) earnings per share (EPS) for the quarter. The firm had revenue of $36.36 million for the quarter, compared to analyst estimates of $37.65 million. Harrow Health had a negative net margin of 18.75% and a negative return on equity of 29.48%. Analysts forecast that Harrow Health, Inc. will post -0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Craig Hallum assumed coverage on Harrow Health in a research report on Thursday, April 11th. They issued a “buy” rating and a $24.00 target price on the stock. B. Riley lowered 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.

Institutional Investors Weigh In On Harrow Health

Several large investors have recently modified their holdings of the stock. Opaleye Management Inc. boosted its stake in shares of Harrow Health by 0.7% during the 4th quarter. Opaleye Management Inc. now owns 3,820,000 shares of the company’s stock worth $42,784,000 after acquiring an additional 25,000 shares in the last quarter. Private Capital Management LLC boosted its position in shares of Harrow Health by 97.2% in the fourth quarter. Private Capital Management LLC now owns 2,794,497 shares of the company’s stock worth $31,298,000 after buying an additional 1,377,597 shares during the period. Braidwell LP boosted its position in shares of Harrow Health by 24.5% in the third quarter. Braidwell LP now owns 1,808,684 shares of the company’s stock worth $25,991,000 after buying an additional 356,146 shares during the period. Vanguard Group Inc. boosted its position in shares of Harrow Health by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 1,808,552 shares of the company’s stock worth $20,256,000 after buying an additional 48,673 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Harrow Health by 261.1% in the second quarter. BlackRock Inc. now owns 1,789,382 shares of the company’s stock worth $34,070,000 after buying an additional 1,293,806 shares during the period. 72.76% of the stock is owned by institutional investors.

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.