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

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

Harrow Health Price Performance

Shares of NASDAQ HROW opened at $10.27 on Thursday. Harrow Health, Inc. has a 1-year low of $7.60 and a 1-year high of $28.25. The company has a quick ratio of 2.61, a current ratio of 2.83 and a debt-to-equity ratio of 2.60. The business’s fifty day moving average price is $11.55 and its two-hundred day moving average price is $11.26.

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

Analyst Ratings Changes

HROW has been the subject of several research analyst reports. B. Riley reduced their target price 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. Craig Hallum began coverage on Harrow Health in a research note on Thursday, April 11th. They set a “buy” rating and a $24.00 price objective on the stock.

Institutional Investors Weigh In On Harrow Health

Several large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Harrow Health during the third quarter valued at $26,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Harrow Health during the third quarter valued at $34,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Harrow Health by 347.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,063 shares of the company’s stock valued at $46,000 after purchasing an additional 3,155 shares during the period. Swiss National Bank increased its holdings in shares of Harrow Health by 5.5% during the third quarter. Swiss National Bank now owns 65,400 shares of the company’s stock valued at $940,000 after purchasing an additional 3,400 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Harrow Health by 122.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,073 shares of the company’s stock valued at $90,000 after purchasing an additional 4,440 shares during the period. 72.76% of the stock is owned by institutional investors and hedge funds.

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.