Harrow (NASDAQ:HROW) Trading 3.5% Higher

Shares of Harrow, Inc. (NASDAQ:HROW) traded up 3.5% on Thursday . The company traded as high as $18.25 and last traded at $17.83. 244,215 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 465,833 shares. The stock had previously closed at $17.22.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HROW. B. Riley restated a “buy” rating and issued a $29.00 target price (up previously from $26.00) on shares of Harrow in a research note on Wednesday, May 15th. Craig Hallum increased their price target on Harrow from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th.

Harrow Stock Up 2.2 %

The stock has a market capitalization of $632.95 million, a PE ratio of -19.66 and a beta of 0.58. The firm has a 50 day moving average of $12.52 and a two-hundred day moving average of $11.09. The company has a current ratio of 3.00, a quick ratio of 2.75 and a debt-to-equity ratio of 3.06.

Harrow (NASDAQ:HROW) last released its quarterly earnings data on Tuesday, March 19th. The company reported ($0.27) EPS for the quarter. The company had revenue of $36.36 million during the quarter, compared to analysts’ expectations of $37.65 million. Harrow had a negative net margin of 22.59% and a negative return on equity of 39.82%. Equities research analysts anticipate that Harrow, Inc. will post -0.51 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Opaleye Management Inc. acquired 50,600 shares of the stock in a transaction on Wednesday, March 20th. The shares were purchased at an average cost of $9.65 per share, for a total transaction of $488,290.00. Following the transaction, the insider now owns 3,695,600 shares in the company, valued at approximately $35,662,540. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Opaleye Management Inc. acquired 50,600 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was acquired at an average price of $9.65 per share, with a total value of $488,290.00. Following the completion of the transaction, the insider now owns 3,695,600 shares of the company’s stock, valued at $35,662,540. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark L. Baum acquired 9,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were bought at an average cost of $11.59 per share, with a total value of $104,310.00. Following the transaction, the chief executive officer now directly owns 2,137,525 shares of the company’s stock, valued at approximately $24,773,914.75. The disclosure for this purchase can be found here. Insiders have bought a total of 170,715 shares of company stock valued at $1,864,011 over the last quarter. Corporate insiders own 13.67% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in Harrow by 3.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 188,825 shares of the company’s stock valued at $2,713,000 after purchasing an additional 5,981 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Harrow during the third quarter worth $26,000. Jump Financial LLC acquired a new stake in shares of Harrow during the third quarter worth $1,038,000. Barclays PLC increased its position in shares of Harrow by 170.8% during the third quarter. Barclays PLC now owns 35,864 shares of the company’s stock worth $515,000 after buying an additional 22,620 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC increased its position in shares of Harrow by 350.0% during the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 45,000 shares of the company’s stock worth $647,000 after buying an additional 35,000 shares during the period. Institutional investors own 72.76% of the company’s stock.

Harrow 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.