Harrow (NASDAQ:HROW) Shares Gap Up to $12.07

Harrow, Inc. (NASDAQ:HROW - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $12.07, but opened at $14.55. Harrow shares last traded at $15.30, with a volume of 620,372 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HROW. B. Riley lowered their target price on shares of Harrow from $30.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, March 22nd. Craig Hallum began coverage on shares of Harrow in a research note on Thursday, April 11th. They issued a "buy" rating and a $24.00 price target for the company.

Harrow Stock Performance

The stock has a market cap of $574.57 million, a P/E ratio of -21.48 and a beta of 0.58. The company has a debt-to-equity ratio of 2.60, a quick ratio of 2.61 and a current ratio of 2.83. The business's 50-day moving average price is $11.44 and its 200-day moving average price is $10.87.

Harrow (NASDAQ:HROW - Get Free Report) last posted its quarterly earnings results on Tuesday, March 19th. The company reported ($0.27) EPS for the quarter. The business had revenue of $36.36 million during the quarter, compared to analysts' expectations of $37.65 million. Harrow had a negative return on equity of 29.48% and a negative net margin of 18.75%. As a group, sell-side analysts expect that Harrow, Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Activity at Harrow

In other Harrow news, major shareholder Opaleye Management Inc. acquired 50,600 shares of the business's stock in a transaction on Wednesday, March 20th. The shares were bought at an average price of $9.65 per share, with a total value of $488,290.00. Following the transaction, the insider now directly owns 3,695,600 shares of the company's stock, valued at approximately $35,662,540. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Opaleye Management Inc. purchased 50,600 shares of the firm's stock in a transaction on Wednesday, March 20th. The stock was acquired at an average cost of $9.65 per share, with a total value of $488,290.00. Following the completion of the transaction, the insider now owns 3,695,600 shares in the company, valued at approximately $35,662,540. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark L. Baum acquired 9,000 shares of the stock in a transaction dated Friday, March 22nd. The stock was acquired at an average cost of $11.59 per share, with a total value of $104,310.00. Following the transaction, the chief executive officer now directly owns 2,137,525 shares in the company, valued at $24,773,914.75. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 170,715 shares of company stock worth $1,864,011. Company insiders own 13.60% of the company's stock.

Institutional Trading of Harrow

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of Harrow by 3.3% in the third quarter. Bank of New York Mellon Corp now owns 188,825 shares of the company's stock worth $2,713,000 after buying an additional 5,981 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Harrow during the 3rd quarter worth $26,000. Jacob Asset Management of New York LLC raised its holdings in Harrow by 7.8% in the third quarter. Jacob Asset Management of New York LLC now owns 91,779 shares of the company's stock valued at $1,319,000 after acquiring an additional 6,615 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Harrow during the 3rd quarter worth $34,000. Finally, Rice Hall James & Associates LLC acquired a new position in shares of Harrow during the 3rd quarter worth about $3,598,000. Institutional investors and hedge funds own 72.76% of the company's stock.

About Harrow

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.