Opaleye Management Inc. Acquires 50,000 Shares of Harrow Health, Inc. (NASDAQ:HROW) Stock

Harrow Health, Inc. (NASDAQ:HROW) major shareholder Opaleye Management Inc. acquired 50,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was bought at an average price of $12.82 per share, with a total value of $641,000.00. Following the purchase, the insider now directly owns 3,745,600 shares in the company, valued at approximately $48,018,592. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 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 Wednesday, March 20th, Opaleye Management Inc. acquired 50,600 shares of Harrow Health stock. The stock was bought at an average price of $9.65 per share, with a total value of $488,290.00.

Harrow Health Stock Performance

NASDAQ:HROW opened at $13.23 on Friday. The company has a debt-to-equity ratio of 2.60, a current ratio of 2.83 and a quick ratio of 2.61. The stock’s 50 day simple moving average is $10.73 and its 200-day simple moving average is $11.60. Harrow Health, Inc. has a 12-month low of $7.60 and a 12-month high of $28.25.

Wall Street Analyst Weigh In

HROW has been the subject of several recent analyst reports. B. Riley decreased their target price on Harrow Health from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. TheStreet cut Harrow Health from a “c-” rating to a “d+” rating in a research note on Tuesday, December 12th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Opaleye Management Inc. grew its holdings in Harrow Health by 0.7% during the fourth quarter. Opaleye Management Inc. now owns 3,820,000 shares of the company’s stock worth $42,784,000 after acquiring an additional 25,000 shares during the period. Braidwell LP grew its holdings in Harrow Health by 24.5% in the third quarter. Braidwell LP now owns 1,808,684 shares of the company’s stock valued at $25,991,000 after purchasing an additional 356,146 shares during the last quarter. Vanguard Group Inc. grew its holdings in Harrow Health by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 1,808,552 shares of the company’s stock valued at $20,256,000 after purchasing an additional 48,673 shares during the last quarter. BlackRock Inc. grew its holdings in Harrow Health by 261.1% in the second quarter. BlackRock Inc. now owns 1,789,382 shares of the company’s stock valued at $34,070,000 after purchasing an additional 1,293,806 shares during the last quarter. Finally, Morgan Stanley grew its holdings in Harrow Health by 0.5% in the third quarter. Morgan Stanley now owns 1,777,661 shares of the company’s stock valued at $25,545,000 after purchasing an additional 8,364 shares during the last quarter. Institutional investors and hedge funds 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.