Opaleye Management Inc., principal shareholder of Harrow Health, Inc. (NASDAQ:HROW – Get Rating), purchased 11,085 shares of the company in a transaction dated Wednesday, September 28. The shares were purchased at an average cost of $9.77 per share, for a total transaction of $108,300.45. Following the transaction, the insider now directly owns 3,185,000 shares of the company, valued at approximately $31,117,450. The purchase was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Large shareholders who own 10% or more of a company’s stock are required to disclose their sales and purchases to the SEC.
Harrow Health Stock up 16.2%
Shares of HROW opened at $11.52 on Friday. The company has a quick ratio of 4.61, a current ratio of 5.01 and a debt ratio of 13.36. Harrow Health, Inc. has a 12 month minimum of $5.40 and a 12 month maximum of $12.99. The company’s 50-day moving average is $8.24 and its 200-day moving average is $7.35.
Harrow Health (NASDAQ:HROW – Get Rating) last reported quarterly earnings data on Tuesday, August 9. The company reported earnings per share of $0.01 for the quarter. Harrow Health posted a positive return on equity of 17.50% and a negative net margin of 28.96%. The company had revenue of $23.32 million in the quarter. On average, analysts expect Harrow Health, Inc. to post EPS of -0.23 for the current year.
Hedge funds weigh on Harrow’s health
Several hedge funds and other institutional investors have recently changed their positions in the company. Captrust Financial Advisors acquired a new position in Harrow Health during the second quarter worth approximately $51,000. Truist Financial Corp acquired a new stake in Harrow Health in the first quarter worth approximately $68,000. Envestnet Asset Management Inc. bought a new position in Harrow Health in the first quarter worth around $70,000. Cubist Systematic Strategies LLC acquired a new position in Harrow Health during the second quarter worth approximately $78,000. Finally, Bank of Montreal Can bought a new position in shares of Harrow Health in the second quarter for a value of approximately $79,000. 59.83% of the shares are currently held by institutional investors and hedge funds.
Analyst upgrades and downgrades
Separately, B. Riley began covering Harrow Health in a research report on Thursday, September 8. They have set a “buy” rating and a price target of $17.00 on the stock.
Harrow Health Company Profile
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Harrow Health, Inc. operates as an ophthalmology-focused healthcare company. The Company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business; and DEXYCU for the treatment of postoperative inflammation. The Company also has interests in Surface Ophthalmics, Inc, a clinical-stage pharmaceutical company focused on developing and commercializing therapies for ocular surface diseases; Melt Pharmaceuticals, Inc., a clinical-stage pharmaceutical company focused on the development and commercialization of proprietary non-intravenous, sedation and anesthesia therapeutic products for human medical procedures in inpatient, outpatient and office settings; and Eton Pharmaceuticals, Inc., a commercial-stage pharmaceutical company engaged in the development and commercialization of pharmaceutical products.
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