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Opaleye Management Inc., a significant shareholder of Harrow, Inc. (NASDAQ:HROW), has recently sold a portion of its holdings in the company. According to a filing with the Securities and Exchange Commission, the investment firm sold 5,000 shares of Harrow’s common stock on March 18, 2025, at a price of $29.64 per share. This transaction amounted to a total value of $148,200. The stock, currently trading at $28.09, has shown remarkable strength with a 159% gain over the past year and a 23% surge in the past week. InvestingPro analysis indicates the stock is trading above its Fair Value, with analyst price targets ranging from $50.40 to $58.00.
Following this sale, Opaleye Management now holds approximately 145,000 shares directly and 3,810,000 shares indirectly through Opaleye, L.P. The firm has clarified in the filing that it disclaims beneficial ownership of the shares, except to the extent of its pecuniary interest. With a market capitalization of nearly $1 billion, Harrow continues to attract investor attention. InvestingPro subscribers can access 8 additional key insights about Harrow’s valuation and growth prospects.
In other recent news, Harrow Health disclosed its preliminary fourth-quarter and full-year 2024 financial results, surpassing expectations. The company reported fourth-quarter revenue between $65 million and $67 million, exceeding the analyst forecast of $59 million, with net income ranging from $5 million to $7 million, contrary to the anticipated loss of $200,000. For the full year 2024, Harrow Health’s revenue was between $198 million and $200 million, with a net loss of $17 million to $19 million. Analyst firm H.C. Wainwright maintains a Buy rating on Harrow Health, setting a price target of $57, highlighting confidence in the company’s growth trajectory. Additionally, Harrow Inc. announced the resignation of board member Marty A. Makary, with no disagreements reported, and subsequently reduced the board size from five to four members. In a separate development, Harrow appointed Dr. Amir H. Shojaei as the new Chief Scientific Officer, succeeding Dennis E. Saadeh, who is retiring. Dr. Shojaei’s extensive experience in ophthalmology is expected to support Harrow’s ongoing growth and innovation in the field. These developments reflect Harrow’s strategic efforts to enhance its leadership and financial performance.
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