Investors tracking insider transactions at Harrow Inc. (NASDAQ:HROW) may find the latest SEC filings of interest, which show that investment firm Opaleye Management Inc. has increased its stake in the pharmaceutical company. The Boston-based fund, known for its focus on healthcare investments, purchased shares of Harrow Inc. worth approximately $204,640.
The transactions, carried out over two consecutive days, saw Opaleye Management acquire 11,715 shares at an average price of $10.29 on the first day, with prices ranging from $10.28 to $10.2942. The following day, the firm bought an additional 8,285 shares at an average price of $10.15, with individual prices varying between $10.09 and $10.19.
These purchases further cement Opaleye Management's position as a significant shareholder in Harrow Inc., with the fund now holding a total of 3,795,000 shares. The investments come at a time when Harrow Inc., a company specializing in pharmaceutical preparations, continues to navigate the competitive healthcare market.
Opaleye Management's recent acquisition is notable not only for the sizable addition to its holdings but also for the price point at which the shares were secured, reflecting a strategic move by the fund to bolster its investment at favorable market prices.
Investors often look to insider buying as a signal of confidence in the company's future prospects. With Opaleye Management's latest move, market watchers will be paying close attention to Harrow Inc.'s performance and any potential impact this insider activity may have on the company's stock valuation.
InvestingPro Insights
As investors digest the news of Opaleye Management's increased stake in Harrow Inc., a glance at the company's financial health and market performance may offer additional context. According to InvestingPro data, Harrow Inc.'s market capitalization stands at $363.17 million, indicating a moderate size within the pharmaceutical sector. Despite the insider confidence suggested by Opaleye's purchases, Harrow Inc. is currently trading at a negative P/E ratio of -13.73, reflecting market skepticism about its near-term earnings potential. This is reinforced by an adjusted P/E ratio for the last twelve months as of Q4 2023, which sits at -16.07.
On a more positive note, Harrow Inc. has demonstrated a robust revenue growth of 46.95% over the last twelve months, with an even more impressive quarterly growth rate of 78.83% in Q4 2023. This suggests that the company is expanding its market presence and increasing sales at a significant rate. Moreover, the gross profit margin stands at a healthy 69.55%, indicating that Harrow Inc. is effective at controlling the cost of goods sold and maintaining profitability at the gross level.
InvestingPro Tips highlight that Harrow Inc. has not been profitable over the last twelve months and analysts do not anticipate the company will be profitable this year. However, the company's liquid assets do exceed its short-term obligations, providing some financial stability. Additionally, Harrow Inc. has experienced a strong return over the last five years, which could be a sign of long-term resilience in the face of short-term challenges. It's worth noting that the company does not pay a dividend, potentially directing more resources towards growth and operations.
For investors seeking a deeper dive into Harrow Inc.'s financial metrics and strategic positioning, InvestingPro offers further insights. There are six additional InvestingPro Tips available, which can be accessed through the dedicated page for Harrow Inc. at https://www.investing.com/pro/HROW. To benefit from an extensive analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and enrich your investment decisions with comprehensive data and expert analysis.
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