HROW Stock Forecast & Price Target

Harrow is supported by a commercially disciplined ophthalmology platform that has more than tripled revenue since 2022, with record 2Q26 revenue of $70.7M and VEVYE at $29.4M, while management still guides to $350M-$365M in 2026. Its outlook is strengthened by multiple differentiated growth drivers: VEVYE’s water-free cyclosporine franchise, IHEEZO’s superior in-office anesthesia profile with record 65,477 units in 2Q26, and TYRVAYA’s addition, which should contribute more than $30M in 2027 and expand the dry-eye franchise. The company also has meaningful optionality from BYOOVIZ, OPUVIZ, TRIESENCE, and G-MELT, leveraging an existing sales force across ~10,000 doctors and eyecare centers to convert acquired assets and pipeline programs into profitable growth.

Harrow is viewed negatively because its outlook depends on several commercialization assumptions that could easily disappoint, including sustained VEVYE growth, continued uptake for IHEEZO and TRIESENCE, and meaningful biosimilar share gains for BYOOVIZ and OPUVIZ. The company also faces notable execution risk in 2H’26, with 1H’26 revenue of $114.9MM versus a second-half target of $235-250MM, implying very strong sequential growth that could be derailed by weaker net-price realization, slower ramps, or an unfavorable commercial mix. In addition, reimbursement policy risk is material, as the loss of IHEEZO’s ASC pass-through on April 1, 2026 and TRIESENCE’s payment pathway expiring in April 2028 could pressure revenue, margins, and cash flow.