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Opaleye Management Inc., a significant shareholder in Harrow Inc. (NASDAQ:HROW), has reported the sale of 5,000 shares of common stock, according to a recent SEC filing. The pharmaceutical company’s stock, which has delivered an impressive 61.76% return over the past year, currently trades at $25.12 per share. The shares were sold at an average price of $30.011 each, amounting to a total transaction value of $150,055. Following this sale, Opaleye Management Inc. retains ownership of 140,000 shares through a managed account, as well as an additional 3,815,000 shares held directly by Opaleye, L.P. The filing serves as an amendment to correct an earlier submission from March 26, 2025. According to InvestingPro data, analysts maintain a strong bullish outlook on Harrow, with price targets ranging from $42 to $60. The company has shown robust revenue growth of 53.49% in the last twelve months, though InvestingPro analysis suggests the stock is currently trading near its Fair Value.
In other recent news, Harrow Health reported its first-quarter financial results for 2025, revealing a revenue of $47.8 million, which represents a 38% year-over-year increase but fell short of the expected $61.13 million. The company also posted a net loss of $17.8 million, or $0.50 per share, missing the projected earnings of $0.06 per share. Despite the earnings miss, Harrow Health remains optimistic about achieving its full-year revenue guidance of over $280 million, driven by strong demand for its Vevi product line. The Vevi revenue showed a 35% sequential increase, from $16 million in the fourth quarter of 2024 to $21.5 million in the first quarter of 2025. H.C. Wainwright analyst Yi Chen responded to these developments by raising the price target for Harrow Health shares from $57 to $60 while maintaining a ’Buy’ rating. The company attributes its lower-than-expected revenue to seasonal trends but anticipates improved performance in the latter half of the year. Harrow Health’s management has also launched the VEVYE Access for All program, which significantly increased new VEVYE prescriptions and prescribers.
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