Harrow Inc. sees $923,827 in stock sales by major shareholder

Opaleye Management Inc., a significant shareholder of Harrow Inc. (NASDAQ:HROW), recently reported the sale of 30,204 shares of common stock, totaling approximately $923,827. The transactions took place over two days, with shares sold on June 9 and June 10 at prices ranging from $30.3732 to $30.8022 per share. The stock, which has delivered a remarkable 72% return over the past year, currently trades at $31.61, with the company commanding a market capitalization of $1.16 billion.

Following these sales, Opaleye Management’s holdings in Harrow Inc. have been adjusted to 90,000 shares directly owned by the managed account and an additional 3,815,000 shares held by Opaleye, L.P. The sales were conducted through a managed account, with Opaleye Management acting as the portfolio manager. The company has shown strong operational performance, with revenue growing 53.49% in the last twelve months.

Opaleye Management Inc. has disclosed that it disclaims beneficial ownership of the shares except to the extent of its pecuniary interest, as noted in the filing. According to analyst targets ranging from $42 to $65, the stock appears to be currently undervalued. InvestingPro analysis reveals 12 additional key insights about Harrow’s valuation and growth prospects, available in the comprehensive Pro Research Report.

In other recent news, Harrow Health has reported its first-quarter 2025 financial results, showing a 38% increase in revenue year-over-year to $47.8 million. Despite this growth, the revenue fell short of analysts’ expectations, which were set at $61.13 million. The company also posted a net loss of $17.8 million, or $0.50 per share, missing the anticipated earnings of $0.06 per share. Analysts from H.C. Wainwright adjusted their price target for Harrow Health to $60, maintaining a ’Buy’ rating, noting the potential growth in the company’s product lines. William Blair initiated coverage on Harrow Health with an Outperform rating, highlighting the growth potential of its branded pharmaceuticals, especially the Vevye product line. Harrow Health’s management remains optimistic about achieving over $280 million in revenue for 2025, driven by strong demand for its products such as Vevye, Iheezo, and Triesence. The company has observed increased adoption of its Vevye product, supported by the successful launch of the Vevye Access for All program, which has significantly boosted new prescriptions and refill rates. Despite the earnings miss, Harrow Health is confident in its strategic initiatives and market positioning to drive future growth.

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