Harrow

HROW · NASDAQ

$28.07+$0.39 (+1.41%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $27.68

HROW analyst rating

BuyConsensus of 6 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy6
Hold0
Underperform0
Sell0

12-month price target · 10 analysts

Average $64.26 (+128.9% upside)

Low: $45.45
Now: $28.07
High: $92.40

Upgrades and downgrades

The latest rating actions, newest first

HROW analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
BTIG	Oct 7, 2026	Maintains	Buy	$63.00	30%
Leerink Partners	Sep 9, 2026	Initiates	Outperform	$45.00	58%
BTIG	Aug 11, 2026	Maintains	Buy	$63.00	30%
BTIG	Jul 21, 2026	Maintains	Buy	$63.00	30%
Cantor Fitzgerald	May 13, 2026	Maintains	Overweight	$91.00 → $88.00	39%
BTIG	May 12, 2026	Maintains	Buy	$63.00	30%
BTIG	Apr 17, 2026	Maintains	Buy	$63.00	30%
B. Riley Securities	Apr 7, 2026	Maintains	Buy	$74.00 → $65.00	47%
HC Wainwright & Co.	Mar 19, 2026	Maintains	Buy	$70.00	40%
BTIG	Mar 18, 2026	Maintains	Buy	$63.00	30%

The case for and against

Updated Oct 14, 2026

Bull case

Harrow is well positioned for continued upside because its shift from compounding to branded eyecare has already more than tripled revenue since 2022 and built durable access to roughly 10,000 U.S. doctors and eyecare centers. The 2026 guide of $350M-$365M appears achievable on strength in VEVYE, record 2Q26 VEVYE revenue of $29.4M, and IHEEZO’s expanding office-based demand, while TYRVAYA’s acquisition should add more than $30M in 2027 revenue and deepen the dry-eye franchise. Beyond near-term execution, the company’s 18-product portfolio, biosimilar opportunities in BYOOVIZ and OPUVIZ, and pipeline assets like G-MELT and MELT-300 create multiple operating levers that support margin expansion and a favorable longer-term growth profile.

Bear case

Harrow is facing a fragile growth profile because its core catalysts are exposed to execution and reimbursement risk, including VEVYE deceleration, higher-than-expected Harrow Access For All costs, and slower uptake or payer pushback on TRIESENCE and IHEEZO. The company also relies on biosimilar adoption for BYOOVIZ and OPUVIZ, yet weaker class penetration or faster ASP deflation would pressure revenue and margins, while the loss of IHEEZO’s ASC pass-through on April 1, 2026 and TRIESENCE’s payment pathway in April 2028 adds policy risk. Although 2Q26 revenue reached $70.7 million and VEVYE posted $29.4 million, Harrow still reported a GAAP net loss of $(17.3) million and had $83.9 million in cash, underscoring that profitability remains uncertain.

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