Opaleye Management Inc. Sells 432,230 Shares of Harrow, Inc. $HROW

Opaleye Management Inc. reduced its stake in shares of Harrow, Inc. (NASDAQ:HROW) by 15.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,400,000 shares of the company’s stock after selling 432,230 shares during the quarter. Harrow accounts for 9.2% of Opaleye Management Inc.’s holdings, making the stock its 3rd largest position. Opaleye Management Inc. owned approximately 0.06% of Harrow worth $101,928,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Penn Capital Management Company LLC grew its stake in shares of Harrow by 20.5% during the 4th quarter. Penn Capital Management Company LLC now owns 392,067 shares of the company’s stock worth $19,257,000 after purchasing an additional 66,589 shares during the period. Luxor Capital Group LP increased its holdings in shares of Harrow by 22.0% during the 1st quarter. Luxor Capital Group LP now owns 1,119,400 shares of the company’s stock valued at $39,470,000 after purchasing an additional 201,859 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Harrow by 56.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company’s stock valued at $20,428,000 after purchasing an additional 208,972 shares during the period. Rice Hall James & Associates LLC lifted its stake in shares of Harrow by 8.5% in the 4th quarter. Rice Hall James & Associates LLC now owns 361,998 shares of the company’s stock valued at $17,738,000 after purchasing an additional 28,303 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Harrow by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 1,921,683 shares of the company’s stock worth $94,162,000 after buying an additional 50,889 shares in the last quarter. 72.76% of the stock is owned by institutional investors and hedge funds.

Harrow Trading Down 2.6%

Shares of HROW stock opened at $36.58 on Friday. Harrow, Inc. has a 1-year low of $28.54 and a 1-year high of $54.85. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -36.58 and a beta of 0.24. 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 stock has a 50 day simple moving average of $40.47 and a 200-day simple moving average of $38.80.

Harrow (NASDAQ:HROW) last released 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). The company had revenue of $70.66 million during the quarter, compared to analyst estimates of $70.35 million. Harrow had a negative net margin of 13.51% and a negative return on equity of 38.00%.

Wall Street Analysts Forecast Growth

HROW has been the topic of several analyst reports. Wall Street Zen upgraded shares of Harrow from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Zacks Research downgraded shares of Harrow from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. BTIG Research reissued a “buy” rating and set a $63.00 target price on shares of Harrow in a research note on Tuesday, August 11th. Leerink Partners started coverage on Harrow in a research report on Wednesday. They set an “outperform” rating and a $45.00 target price on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a research report on Monday, July 20th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Harrow currently has an average rating of “Moderate Buy” and a consensus price target of $66.38.

Insider Buying and Selling at Harrow

In related news, insider Amir Shojaei sold 11,250 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 11,250 shares in the company, valued at $450,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.80% of the stock is currently owned by company 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.