HROW Stock Forecast & Price Target

Harrow is well positioned by a differentiated, branded ophthalmology portfolio that is already scaling, with 2Q26 revenue of $70.7M, VEVYE at a record $29.4M, and IHEEZO unit demand up 34% year over year to 65,477, supporting management’s 2026 revenue guidance of $350M-$365M. The TYRVAYA acquisition for $30M upfront plus up to $70M in milestones expands the dry-eye franchise with a first-and-only FDA-approved nasal spray, while the shared Ocular Surface sales force and PhilRx infrastructure should create meaningful commercial leverage and cross-selling opportunities. Further upside comes from IHEEZO’s strong clinical and reimbursement profile, BYOOVIZ’s July 1, 2026 launch with OPUVIZ expected in 1H27, and TRIESENCE, whose broader cataract surgery opportunity and a Phase 3 trial with topline data expected in early 2027 add multiple growth catalysts.

Harrow is exposed to multiple fundamental risks that could pressure both growth and margins, with VEVYE sales, BYOOVIZ/OPUVIZ biosimilar adoption, and TRIESENCE/IHEEZO uptake all dependent on strong prescriber and payer acceptance. The company’s 1H’26 revenue of $114.9MM must accelerate sharply to reach its second-half target of $235-250MM, leaving execution risk if net-price realization, commercial mix, or launch momentum slip. Reimbursement policy is another material headwind, because IHEEZO’s ASC pass-through ends on April 1, 2026 and TRIESENCE’s separate payment expires in April 2028, increasing the risk of revenue compression and weaker profitability.