Harrow (NASDAQ:HROW) Shares Gap Up Following Insider Buying Activity

Harrow, Inc. (NASDAQ:HROW) gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $30.86, but opened at $31.94. Harrow shares last traded at $32.3160, with a volume of 127,552 shares trading hands.

Specifically, CFO Andrew R. Boll acquired 3,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $29.90 per share, for a total transaction of $104,650.00. Following the completion of the transaction, the chief financial officer directly owned 814,679 shares in the company, valued at approximately $24,358,902.10. This trade represents a 0.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Nomura downgraded shares of Harrow to a “neutral” rating in a research report on Wednesday, March 18th. Zacks Research upgraded Harrow from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. William Blair reaffirmed an “outperform” rating on shares of Harrow in a report on Tuesday, March 3rd. Cantor Fitzgerald reduced their price objective on Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, BTIG Research reissued a “buy” rating and issued a $63.00 target price on shares of Harrow in a report on Tuesday. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.43.

Harrow Stock Up 3.2%

The company’s 50 day moving average price is $36.67 and its two-hundred day moving average price is $42.21. The company has a current ratio of 2.48, a quick ratio of 2.06 and a debt-to-equity ratio of 10.30. The firm has a market cap of $1.19 billion, a PE ratio of -77.99 and a beta of 0.34.

Harrow (NASDAQ:HROW) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.31). Harrow had a positive return on equity of 19.59% and a negative net margin of 5.57%.The company had revenue of $44.20 million during the quarter, compared to analysts’ expectations of $52.43 million. During the same quarter last year, the company earned ($0.38) earnings per share. On average, equities research analysts expect that Harrow, Inc. will post 0.48 EPS for the current fiscal year.

Institutional Trading of Harrow

A number of hedge funds and other institutional investors have recently bought and sold shares of HROW. University of Texas Texas AM Investment Management Co. bought a new position in shares of Harrow in the fourth quarter worth about $26,000. KBC Group NV bought a new position in shares of Harrow during the 1st quarter valued at approximately $31,000. Raymond James Financial Inc. purchased a new stake in Harrow in the 2nd quarter worth approximately $48,000. SBI Securities Co. Ltd. increased its holdings in Harrow by 393.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company’s stock worth $52,000 after acquiring an additional 846 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in Harrow during the 3rd quarter worth approximately $83,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.

About Harrow

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.