Harrow, Inc. $HROW Stock Purchased by Profund Advisors LLC

Profund Advisors LLC increased its stake in shares of Harrow, Inc. (NASDAQ:HROW) by 437.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,532 shares of the company’s stock after buying an additional 33,810 shares during the quarter. Profund Advisors LLC’s holdings in Harrow were worth $1,279,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. KBC Group NV acquired a new position in Harrow during the first quarter worth $31,000. Sterling Capital Management LLC increased its stake in shares of Harrow by 836.8% in the 3rd quarter. Sterling Capital Management LLC now owns 1,068 shares of the company’s stock worth $33,000 after acquiring an additional 954 shares during the last quarter. First Bancorp Inc ME purchased a new position in shares of Harrow during the 2nd quarter worth $64,000. State of Wyoming purchased a new position in shares of Harrow during the 2nd quarter worth $72,000. Finally, Freestone Grove Partners LP purchased a new position in shares of Harrow during the 2nd quarter worth $157,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Insider Transactions at Harrow

In related news, insider Amir Shojaei sold 11,250 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were 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 in the company, valued at approximately $450,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on HROW shares. Leerink Partners started coverage on shares of Harrow in a research report on Wednesday, September 9th. They set an “outperform” rating and a $45.00 price target on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a research report on Friday, October 16th. BTIG Research reaffirmed a “buy” rating and set a $63.00 target price on shares of Harrow in a research note on Wednesday, October 7th. Zacks Research upgraded shares of Harrow from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 9th. Finally, Wall Street Zen upgraded shares of Harrow from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.17.

Harrow Trading Down 0.1%

HROW stock opened at $28.20 on Tuesday. Harrow, Inc. has a 52-week low of $26.96 and a 52-week high of $54.85. 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 business has a fifty day moving average of $32.61 and a two-hundred day moving average of $38.32.

Harrow (NASDAQ:HROW) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.28). The business 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%.

Harrow Profile

Harrow, Inc is an ophthalmic pharmaceutical company focused on developing, acquiring, and commercializing prescription therapies for eye care. The company’s portfolio addresses conditions and procedures involving the ocular surface, anterior segment, and retina, with products intended for use by ophthalmologists and other eye-care professionals.

Harrow’s commercial products include VEVYE, a cyclosporine ophthalmic solution for the treatment of dry eye disease, and IHEEZO, a chloroprocaine hydrochloride ophthalmic gel used for ocular surface anesthesia during ophthalmic procedures.