Profund Advisors LLC Acquires 33,810 Shares of Harrow, Inc. $HROW

Profund Advisors LLC lifted its holdings in Harrow, Inc. (NASDAQ:HROW) by 437.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,532 shares of the company’s stock after purchasing an additional 33,810 shares during the period. Profund Advisors LLC owned about 0.11% of Harrow worth $1,279,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Harrow in the second quarter valued at approximately $116,373,000. Bamco Inc. NY purchased a new position in shares of Harrow during the 2nd quarter valued at approximately $34,373,000. Jupiter Topco LLC acquired a new stake in Harrow in the 2nd quarter valued at $24,596,000. Rice Hall James & Associates LLC acquired a new stake in Harrow in the 2nd quarter valued at $16,459,000. Finally, Dimensional Fund Advisors LP grew its stake in Harrow by 56.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company’s stock valued at $20,428,000 after acquiring an additional 208,972 shares during the period. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. BTIG Research restated a “buy” rating and set a $63.00 price objective on shares of Harrow in a research report on Wednesday, October 7th. Wall Street Zen upgraded shares of Harrow from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a research note on Friday, October 16th. Zacks Research raised shares of Harrow from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 9th. Finally, 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 for the company. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.17.

Harrow Stock Down 0.1%

Shares of NASDAQ:HROW opened at $28.20 on Tuesday. The company has a quick ratio of 2.08, a current ratio of 2.24 and a debt-to-equity ratio of 19.70. Harrow, Inc. has a 1 year low of $26.96 and a 1 year high of $54.85. The business’s 50 day moving average price is $32.61 and its 200-day moving average price is $38.32.

Harrow (NASDAQ:HROW) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.28). Harrow had a negative net margin of 13.51% and a negative return on equity of 38.00%. The firm had revenue of $70.66 million during the quarter, compared to analyst estimates of $70.35 million.

Insider Activity at Harrow

In other news, insider Amir Shojaei sold 11,250 shares of the 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 completion of the sale, the insider directly owned 11,250 shares in the company, valued at $450,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 12.80% of the stock is owned by company insiders.

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.