Harrow Health (NASDAQ:HROW) Coverage Initiated at Craig Hallum

Craig Hallum started coverage on shares of Harrow Health (NASDAQ:HROW) in a research report issued on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $24.00 price target on the stock. Craig Hallum’s price objective suggests a potential upside of 89.72% from the stock’s previous close.

Separately, B. Riley dropped their target price on Harrow Health from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, March 22nd.

Harrow Health Stock Down 4.1 %

Shares of NASDAQ HROW opened at $12.65 on Thursday. The firm has a market cap of $447.30 million, a price-to-earnings ratio of -16.87 and a beta of 0.48. The company has a quick ratio of 2.61, a current ratio of 2.83 and a debt-to-equity ratio of 2.60. Harrow Health has a 52-week low of $7.60 and a 52-week high of $28.25. The business’s 50 day moving average is $11.47 and its two-hundred day moving average is $11.44.

Harrow Health (NASDAQ:HROW) last posted its quarterly earnings data on Tuesday, March 19th. The company reported ($0.27) earnings per share for the quarter. Harrow Health had a negative return on equity of 29.48% and a negative net margin of 18.75%. The company had revenue of $36.36 million for the quarter, compared to analysts’ expectations of $37.65 million. Research analysts predict that Harrow Health will post -0.39 EPS for the current year.

Insider Activity at Harrow Health

In related news, major shareholder Opaleye Management Inc. acquired 50,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was bought at an average price of $12.82 per share, for a total transaction of $641,000.00. Following the completion of the purchase, the insider now directly owns 3,745,600 shares of the company’s stock, valued at approximately $48,018,592. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Mark L. Baum acquired 9,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was bought at an average price of $11.59 per share, for a total transaction of $104,310.00. Following the completion of the purchase, the chief executive officer now directly owns 2,137,525 shares of the company’s stock, valued at approximately $24,773,914.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Opaleye Management Inc. acquired 50,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was bought at an average price of $12.82 per share, with a total value of $641,000.00. Following the purchase, the insider now directly owns 3,745,600 shares of the company’s stock, valued at $48,018,592. The disclosure for this purchase can be found here. Insiders have acquired 109,600 shares of company stock valued at $1,233,600 over the last quarter. 13.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Harrow Health

Several large investors have recently bought and sold shares of HROW. Kennedy Capital Management LLC acquired a new stake in shares of Harrow Health during the third quarter worth about $1,750,000. Jump Financial LLC acquired a new stake in shares of Harrow Health during the third quarter worth about $1,038,000. Stifel Financial Corp acquired a new stake in shares of Harrow Health during the third quarter worth about $4,887,000. Braidwell LP boosted its stake in shares of Harrow Health by 24.5% during the third quarter. Braidwell LP now owns 1,808,684 shares of the company’s stock worth $25,991,000 after buying an additional 356,146 shares during the period. Finally, Rice Hall James & Associates LLC acquired a new stake in shares of Harrow Health during the third quarter worth about $3,598,000. Institutional investors and hedge funds own 72.76% of the company’s stock.

About Harrow Health

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.