Deutsche Bank AG Acquires Shares of 70,862 Harrow, Inc. $HROW

Deutsche Bank AG acquired a new stake in shares of Harrow, Inc. (NASDAQ:HROW) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 70,862 shares of the company’s stock, valued at approximately $3,010,000.

A number of other institutional investors also recently modified their holdings of the company. Perigon Wealth Management LLC purchased a new position in Harrow during the 2nd quarter valued at about $562,000. Rice Hall James & Associates LLC bought a new stake in shares of Harrow in the 2nd quarter worth approximately $16,459,000. Persistent Asset Partners Ltd purchased a new position in shares of Harrow during the second quarter valued at approximately $169,000. Simplicity Wealth LLC bought a new position in shares of Harrow during the second quarter valued at approximately $249,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Harrow during the second quarter valued at approximately $3,625,000. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

Harrow Trading Down 4.8%

NASDAQ:HROW opened at $39.33 on Thursday. Harrow, Inc. has a one year low of $28.54 and a one year high of $54.85. The company has a debt-to-equity ratio of 19.70, a current ratio of 2.24 and a quick ratio of 2.08. The company’s 50-day simple moving average is $41.48 and its 200 day simple moving average is $39.65. The firm has a market capitalization of $1.47 billion, a P/E ratio of -39.33 and a beta of 0.28.

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

Wall Street Analyst Weigh In

HROW has been the topic of several recent analyst reports. BTIG Research reiterated a “buy” rating and issued a $63.00 price target on shares of Harrow in a report on Tuesday, August 11th. Cantor Fitzgerald dropped their target price on shares of Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Zacks Research lowered shares of Harrow from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. Wall Street Zen raised shares of Harrow from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a report on Monday, July 20th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.43.

Insider Buying and Selling at Harrow

In related news, insider Amir Shojaei sold 11,250 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $40.00, for a total transaction of $450,000.00. Following the completion of the transaction, the insider owned 11,250 shares of the company’s stock, valued at $450,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.80% of the stock is owned by insiders.

Harrow Profile

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.