Harrow (NASDAQ:HROW) Insider Amir Shojaei Sells 11,250 Shares of Stock

Harrow, Inc. (NASDAQ:HROW) insider Amir Shojaei sold 11,250 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $40.00, for a total transaction of $450,000.00. Following the sale, the insider owned 11,250 shares in the company, valued at $450,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Harrow Trading Down 1.4%

NASDAQ HROW opened at $39.47 on Tuesday. The company has a debt-to-equity ratio of 19.70, a quick ratio of 2.08 and a current ratio of 2.24. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -39.47 and a beta of 0.28. The firm has a 50 day simple moving average of $41.07 and a 200-day simple moving average of $39.83. Harrow, Inc. has a one year low of $28.54 and a one year high of $54.85.

Harrow (NASDAQ:HROW) last released its earnings results on Monday, August 10th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.28). The business had revenue of $70.66 million for the quarter, compared to analyst estimates of $70.35 million. Harrow had a negative return on equity of 38.00% and a negative net margin of 13.51%. Equities research analysts anticipate that Harrow, Inc. will post 0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Harrow

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bamco Inc. NY purchased a new stake in Harrow during the second quarter worth approximately $34,373,000. Bank of America Corp DE acquired a new stake in Harrow during the second quarter worth approximately $4,565,000. Freestone Grove Partners LP acquired a new stake in Harrow during the second quarter worth approximately $157,000. First Bancorp Inc ME purchased a new stake in shares of Harrow during the 2nd quarter worth approximately $64,000. Finally, Jupiter Topco LLC purchased a new stake in shares of Harrow during the 2nd quarter worth approximately $24,596,000. Institutional investors and hedge funds own 72.76% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on HROW. Cantor Fitzgerald cut their price target on Harrow from $91.00 to $88.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. BTIG Research reaffirmed a “buy” rating and issued a $63.00 target price on shares of Harrow in a report on Tuesday, August 11th. Wall Street Zen upgraded shares of Harrow from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a report on Monday, July 20th. Finally, Zacks Research lowered shares of Harrow from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Harrow presently has an average rating of “Moderate Buy” and a consensus target price of $69.43.

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.