Harrow Health, Inc. (NASDAQ:HROW) Major Shareholder Opaleye Management Inc. Acquires 11,715 Shares

Harrow Health, Inc. (NASDAQ:HROW) major shareholder Opaleye Management Inc. acquired 11,715 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were bought at an average cost of $10.29 per share, with a total value of $120,547.35. Following the completion of the acquisition, the insider now directly owns 3,786,715 shares in the company, valued at approximately $38,965,297.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Friday, April 19th, Opaleye Management Inc. acquired 29,400 shares of Harrow Health stock. The shares were bought at an average cost of $10.56 per share, with a total value of $310,464.00.
• On Thursday, March 28th, Opaleye Management Inc. purchased 50,000 shares of Harrow Health stock. The stock was acquired at an average cost of $12.82 per share, with a total value of $641,000.00.
• On Wednesday, March 20th, Opaleye Management Inc. purchased 50,600 shares of Harrow Health stock. The stock was acquired at an average cost of $9.65 per share, with a total value of $488,290.00.

Harrow Health Stock Down 0.5 %

Shares of NASDAQ:HROW opened at $10.27 on Thursday. The company has a 50-day moving average price of $11.55 and a 200-day moving average price of $11.26. The company has a quick ratio of 2.61, a current ratio of 2.83 and a debt-to-equity ratio of 2.60. Harrow Health, Inc. has a 12 month low of $7.60 and a 12 month high of $28.25.

Harrow Health (NASDAQ:HROW) last issued its quarterly earnings data on Tuesday, March 19th. The company reported ($0.27) EPS for the quarter. The firm 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%. Equities research analysts expect that Harrow Health, Inc. will post -0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. B. Riley lowered their price target on shares of 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 assumed coverage on shares of Harrow Health in a research note on Thursday, April 11th. They issued a “buy” rating and a $24.00 price target for the company.

Hedge Funds Weigh In On Harrow Health

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Harrow Health during the third quarter valued at about $26,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Harrow Health during the third quarter valued at about $34,000. China Universal Asset Management Co. Ltd. increased its position 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 buying an additional 3,155 shares during the period. Swiss National Bank increased its position 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 buying an additional 3,400 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Harrow Health by 122.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,073 shares of the company’s stock worth $90,000 after purchasing an additional 4,440 shares during the period. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Harrow Health Company Profile

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.