HROW Stock Forecast & Price Target

Harrow is well positioned because it has transformed from a compounding business into a branded ophthalmic platform with 18 products, deep relationships across roughly 10,000 U.S. doctors and eyecare centers, and the ability to commercialize smaller assets profitably through an existing sales network. Its near-term growth is supported by VEVYE and IHEEZO, with VEVYE posting a record $29.4M in 2Q26 and TYRVAYA adding a complementary dry-eye franchise, while 2026 revenue guidance of $350M-$365M and the path toward 2027 quarterly revenue of $250M underscore tangible momentum. Further upside comes from biosimilars and pipeline optionality, including BYOOVIZ, OPUVIZ, and G-MELT, alongside margin expansion and more than tripled revenue since 2022, which together support a durable bullish outlook.

Harrow is challenged by heavy reliance on a few growth drivers, especially VEVYE, IHEEZO, and biosimilars, where any deceleration in sales, weaker adoption, or faster ASP deflation could quickly pressure revenue and margins. The outlook is further clouded by reimbursement risk, including IHEEZO’s ASC pass-through loss on April 1, 2026 and TRIESENCE’s separate payment expiring in April 2028, which could force products into bundled payments and weaken economics. Execution risk also looks elevated because 1H’26 revenue was $114.9MM versus a second-half target of $235-250MM, while 2Q26 already showed a GAAP net loss of $(17.3M) despite $70.7M in revenue and $83.9M in cash.