Jupiter Topco LLC Makes New Investment in Harrow, Inc. $HROW

Key Points

• Jupiter Topco LLC acquired 579,127 Harrow shares worth approximately $24.6 million, giving it a 1.54% stake. Institutional investors collectively own 72.76% of the company.
• Analyst sentiment is mixed but leans positive, with eight Buy ratings, one Hold and two Sell ratings; the consensus rating is “Moderate Buy” with a $69.43 price target.
• Harrow reported quarterly revenue of $70.66 million, slightly above estimates, but its adjusted loss of $0.46 per share was significantly worse than the expected $0.18 loss. The stock opened at $37.27, below its 50-day moving average of $41.28.

Jupiter Topco LLC bought a new position in Harrow, Inc. (NASDAQ:HROW - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 579,127 shares of the company's stock, valued at approximately $24,596,000. Jupiter Topco LLC owned 1.54% of Harrow at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in Harrow in the second quarter worth about $116,373,000. Rice Hall James & Associates LLC bought a new stake in Harrow during the 2nd quarter valued at approximately $16,459,000. Dimensional Fund Advisors LP boosted its position in Harrow by 56.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company's stock valued at $20,428,000 after acquiring an additional 208,972 shares in the last quarter. Luxor Capital Group LP grew 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 worth $39,470,000 after acquiring an additional 201,859 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Harrow by 266.8% during the 2nd quarter. Bank of America Corp DE now owns 213,448 shares of the company's stock worth $6,519,000 after acquiring an additional 155,258 shares during the period. Institutional investors own 72.76% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Harrow news, insider Amir Shojaei sold 11,250 shares of the business's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $40.00, for a total value of $450,000.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 12.80% of the company's stock.

Harrow Price Performance

HROW stock opened at $37.27 on Friday. The firm has a 50 day moving average price of $41.28 and a 200-day moving average price of $39.57. Harrow, Inc. has a 52-week low of $28.54 and a 52-week high of $54.85. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -37.27 and a beta of 0.28. 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 - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.46) 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 company had revenue of $70.66 million during the quarter, compared to the consensus estimate of $70.35 million.

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.

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