Harrow (NASDAQ:HROW) Trading 5.9% Higher

Harrow, Inc. (NASDAQ:HROW - Get Free Report) shares shot up 5.9% during mid-day trading on Friday . The stock traded as high as $17.15 and last traded at $17.12. 173,928 shares changed hands during trading, a decline of 63% from the average session volume of 469,187 shares. The stock had previously closed at $16.16.

Analyst Ratings Changes

HROW has been the subject of several recent research reports. Craig Hallum upped their price target on Harrow from $24.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday. B. Riley restated a "buy" rating and issued a $29.00 target price (up from $26.00) on shares of Harrow in a research note on Wednesday.

Harrow Stock Performance

The firm has a market cap of $592.97 million, a P/E ratio of -18.42 and a beta of 0.58. The company has a debt-to-equity ratio of 3.06, a current ratio of 3.00 and a quick ratio of 2.61. The stock's 50 day moving average is $11.85 and its two-hundred day moving average is $10.97.

Harrow (NASDAQ:HROW - Get Free Report) last issued its earnings results on Tuesday, March 19th. The company reported ($0.27) earnings per share (EPS) for the quarter. The company had revenue of $36.36 million during the quarter, compared to analyst estimates of $37.65 million. Harrow had a negative return on equity of 39.82% and a negative net margin of 22.59%.

Insiders Place Their Bets

In other news, major shareholder Opaleye Management Inc. purchased 50,600 shares of Harrow stock in a transaction on Wednesday, March 20th. The shares were purchased at an average cost of $9.65 per share, for a total transaction of $488,290.00. Following the completion of the transaction, the insider now directly owns 3,695,600 shares in the company, valued at $35,662,540. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, major shareholder Opaleye Management Inc. purchased 50,600 shares of Harrow stock in a transaction on Wednesday, March 20th. The shares were purchased at an average cost of $9.65 per share, for a total transaction of $488,290.00. Following the completion of the transaction, the insider now directly owns 3,695,600 shares in the company, valued at $35,662,540. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark L. Baum purchased 9,000 shares of Harrow stock in a transaction on Friday, March 22nd. The stock was purchased at an average price of $11.59 per share, for a total transaction of $104,310.00. Following the completion of the transaction, the chief executive officer now owns 2,137,525 shares of the company's stock, valued at $24,773,914.75. The disclosure for this purchase can be found here. Insiders purchased 170,715 shares of company stock worth $1,864,011 over the last three months. 13.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Harrow

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Harrow in the third quarter worth about $26,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Harrow in the third quarter worth about $34,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Harrow by 347.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,063 shares of the company's stock worth $46,000 after acquiring an additional 3,155 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Harrow by 122.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,073 shares of the company's stock worth $90,000 after acquiring an additional 4,440 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new position in shares of Harrow in the first quarter worth about $185,000. 72.76% of the stock is currently owned by institutional investors and hedge funds.

Harrow Company Profile

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.