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

Perigon Wealth Management LLC purchased a new position in shares of Harrow, Inc. (NASDAQ:HROW) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,229 shares of the company’s stock, valued at approximately $562,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HROW. University of Texas Texas AM Investment Management Co. acquired a new position in Harrow in the fourth quarter valued at about $26,000. KBC Group NV acquired a new stake in shares of Harrow during the first quarter valued at about $31,000. Raymond James Financial Inc. purchased a new stake in shares of Harrow in the 2nd quarter valued at approximately $48,000. SBI Securities Co. Ltd. raised its stake in shares of Harrow by 393.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company’s stock valued at $52,000 after acquiring an additional 846 shares during the period. Finally, State of Wyoming purchased a new stake in shares of Harrow in the 2nd quarter valued at approximately $72,000. 72.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Amir Shojaei sold 11,250 shares of Harrow stock in a transaction on Friday, August 14th. The shares were sold at an average price of $40.00, for a total transaction of $450,000.00. Following the completion of the sale, the insider directly owned 11,250 shares of the company’s stock, valued at approximately $450,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.80% of the company’s stock.

Harrow Stock Up 5.4%

HROW stock opened at $41.64 on Thursday. The company’s 50 day moving average price is $41.31 and its 200 day moving average price is $39.81. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -41.64 and a beta of 0.28. Harrow, Inc. has a fifty-two week low of $28.54 and a fifty-two week high of $54.85. The company has a debt-to-equity ratio of 19.70, a quick ratio of 2.08 and a current ratio of 2.24.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. BTIG Research reaffirmed a “buy” rating and set a $63.00 price objective on shares of Harrow in a research report on Tuesday, August 11th. Wall Street Zen upgraded 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 research report on Tuesday, August 11th. Cantor Fitzgerald lowered their price target on Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Harrow in a research note on Monday, July 20th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.43.

About Harrow

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.