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

Harrow Health, Inc. (NASDAQ:HROW) major shareholder Opaleye Management Inc. purchased 29,400 shares of Harrow Health stock in a transaction that occurred on Friday, April 19th. The shares were purchased at an average price of $10.56 per share, for a total transaction of $310,464.00. Following the transaction, the insider now directly owns 3,775,000 shares in the company, valued at approximately $39,864,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares 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. purchased 50,000 shares of Harrow Health stock. The shares were purchased at an average price of $12.82 per share, for a total transaction of $641,000.00.
• On Wednesday, March 20th, Opaleye Management Inc. purchased 50,600 shares of Harrow Health stock. The shares were purchased at an average price of $9.65 per share, for a total transaction of $488,290.00.

Harrow Health Trading Down 3.7 %

Shares of Harrow Health stock opened at $10.45 on Friday. Harrow Health, Inc. has a fifty-two week low of $7.60 and a fifty-two week high of $28.25. The company has a debt-to-equity ratio of 2.60, a quick ratio of 2.61 and a current ratio of 2.83. The company’s 50 day moving average price is $11.63 and its two-hundred day moving average price is $11.38.

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

Hedge Funds Weigh In On Harrow Health

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in shares of Harrow Health during the third quarter valued at $26,000. Northwestern Mutual Wealth Management Co. bought a new position in Harrow Health during the fourth quarter worth $31,000. Ameritas Investment Partners Inc. bought a new position in Harrow Health during the second quarter worth $41,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Harrow Health during the third quarter worth $34,000. Finally, Tower Research Capital LLC TRC raised its stake in Harrow Health by 530.7% during the third quarter. Tower Research Capital LLC TRC now owns 2,756 shares of the company’s stock worth $33,000 after buying an additional 2,319 shares during the last quarter. Institutional investors own 72.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. B. Riley cut their target price on shares of Harrow Health from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Craig Hallum assumed coverage on shares of Harrow Health in a research report on Thursday, April 11th. They issued a “buy” rating and a $24.00 target price on the stock.

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.