Penn Capital Management Company LLC Makes New Investment in Harrow, Inc. $HROW

Penn Capital Management Company LLC purchased a new stake in Harrow, Inc. (NASDAQ:HROW) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 325,478 shares of the company’s stock, valued at approximately $15,717,000. Penn Capital Management Company LLC owned 0.88% of Harrow at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of HROW. Raymond James Financial Inc. acquired a new stake in shares of Harrow during the second quarter worth $48,000. State of Alaska Department of Revenue acquired a new stake in shares of Harrow during the 3rd quarter worth $83,000. Larson Financial Group LLC increased its position in shares of Harrow by 848.2% in the third quarter. Larson Financial Group LLC now owns 2,162 shares of the company’s stock worth $104,000 after purchasing an additional 1,934 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Harrow by 345.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,373 shares of the company’s stock worth $103,000 after acquiring an additional 2,615 shares during the period. Finally, AlphaQuest LLC boosted its position in shares of Harrow by 743.0% during the 3rd quarter. AlphaQuest LLC now owns 3,819 shares of the company’s stock worth $184,000 after acquiring an additional 3,366 shares in the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on HROW shares. HC Wainwright upped their price objective on Harrow from $69.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Zacks Research downgraded Harrow from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a report on Thursday, January 22nd. William Blair reiterated an “outperform” rating on shares of Harrow in a research report on Tuesday, March 3rd. Finally, Cantor Fitzgerald lowered their price objective on Harrow from $94.00 to $91.00 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.14.

Harrow Stock Up 0.9%

HROW stock opened at $35.23 on Wednesday. The company has a market cap of $1.31 billion, a P/E ratio of -207.22 and a beta of 0.05. Harrow, Inc. has a fifty-two week low of $20.85 and a fifty-two week high of $54.85. The stock’s 50 day simple moving average is $45.47 and its 200 day simple moving average is $43.61. The company has a debt-to-equity ratio of 4.67, a quick ratio of 2.06 and a current ratio of 2.20.

Harrow Company Profile

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.