Perigon Wealth Management LLC Invests $562,000 in Harrow, Inc. $HROW

Perigon Wealth Management LLC bought a new position in shares of Harrow, Inc. (NASDAQ:HROW) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 13,229 shares of the company’s stock, valued at approximately $562,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC purchased a new position in Harrow in the second quarter valued at approximately $16,459,000. Persistent Asset Partners Ltd purchased a new stake in shares of Harrow during the 2nd quarter worth approximately $169,000. Simplicity Wealth LLC purchased a new stake in shares of Harrow during the 2nd quarter worth approximately $249,000. Bank of New York Mellon Corp acquired a new position in shares of Harrow in the 2nd quarter valued at $3,625,000. Finally, State of Wyoming acquired a new position in shares of Harrow in the 2nd quarter valued at $72,000. 72.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Harrow

In related news, insider Amir Shojaei sold 11,250 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $40.00, for a total transaction of $450,000.00. Following the transaction, the insider owned 11,250 shares of the company’s stock, valued at $450,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 12.80% of the company’s stock.

Harrow Stock Up 5.4%

Shares of NASDAQ:HROW opened at $41.64 on Thursday. Harrow, Inc. has a 1-year low of $28.54 and a 1-year high of $54.85. The company has a debt-to-equity ratio of 19.70, a current ratio of 2.24 and a quick ratio of 2.08. The stock has a market cap of $1.56 billion, a P/E ratio of -41.64 and a beta of 0.28. The firm has a fifty day moving average price of $41.31 and a 200 day moving average price of $39.81.

Harrow (NASDAQ:HROW) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.28). Harrow had a negative net margin of 13.51% and a negative return on equity of 38.00%. The business had revenue of $70.66 million during the quarter, compared to analyst estimates of $70.35 million.

Analysts Set New Price Targets

HROW has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a research note on Monday, July 20th. Wall Street Zen upgraded shares of Harrow from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Zacks Research lowered Harrow from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. BTIG Research reiterated a “buy” rating and set a $63.00 target price on shares of Harrow in a research report on Tuesday, August 11th. Finally, Cantor Fitzgerald reduced their target price on Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.43.

Harrow Company Profile

Harrow Health, Inc (NASDAQ: HROW) is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.