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Opaleye Management Inc., a major shareholder in Harrow, Inc. (NASDAQ:HROW), recently sold 5,000 shares of the company’s common stock. The transaction, executed on March 18, 2025, was priced at $30.011 per share, totaling approximately $150,055. The sale occurred near the stock’s current trading price of $27.65, with Harrow shares showing remarkable strength with a 130% return over the past year. According to InvestingPro analysis, the company currently appears overvalued relative to its Fair Value. Following this sale, Opaleye Management reported holding 140,000 shares directly in a managed account and 3,810,000 shares through Opaleye, L.P. Opaleye Management, a ten percent owner, manages these holdings but disclaims beneficial ownership beyond its pecuniary interest. With a market capitalization of $980 million, Harrow operates with moderate debt levels and maintains a healthy current ratio of 1.55. InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report for deeper analysis of HROW’s financial health and market position.
In other recent news, Harrow Inc. disclosed its preliminary financial results for the fourth quarter and full year 2024, surpassing analyst expectations. The company’s fourth-quarter revenue was reported between $65 million and $67 million, exceeding the forecast of $59 million, while net income ranged from $5 million to $7 million, defying an anticipated loss of $200,000. For the full year, revenues were between $198 million and $200 million, with a net loss between $17 million and $19 million. The Centers for Medicare & Medicaid Services (CMS) approved separate reimbursement for Harrow’s TRIESENCE, effective April 1, 2025, enhancing access to this ophthalmic product across various healthcare settings. Meanwhile, H.C. Wainwright maintained a Buy rating on Harrow Health, setting a price target of $57, and highlighted the company’s growth driven by its ophthalmic product portfolio. In corporate developments, Harrow appointed Dr. Amir H. Shojaei as the new Chief Scientific Officer, succeeding Dennis E. Saadeh, who is retiring. Additionally, Marty A. Makary resigned from Harrow’s Board of Directors, prompting a reduction in the board’s size from five to four members. These developments reflect Harrow’s ongoing strategic initiatives and leadership changes aimed at strengthening its position in the eyecare pharmaceutical market.
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