HROW Stock Forecast & Price Target

Harrow Inc's 3Q25 financial performance indicates a strong revenue growth trajectory, with VEVYE experiencing a 22% quarter-over-quarter increase to $22.6 million and capturing a 10.5% share of the national dry eye disease market, reflecting a significant competitive position enhancement. The company's commitment to improving patient access through the VEVYE Access for All program is resulting in expanded coverage and consistent demand, which is expected to contribute positively to revenue, helping to achieve the targeted $250 million quarterly revenue by 4Q27. Moreover, anticipated new product launches in 2026 and ongoing coverage wins are expected to further solidify VEVYE’s market position and drive substantial topline growth in the coming years.

Harrow Inc's financial outlook has deteriorated significantly, with FY26E revenue estimates revised down to $352 million due to a worse-than-expected sequential decline in first-quarter revenue, reflecting a year-to-date equity weakness of 30%. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) are projected at $76 million, falling below the previously guided range of $80 million to $100 million, primarily due to conservative expectations around first-half revenue. Furthermore, the company's pipeline products face substantial risks, including potential challenges in achieving favorable clinical outcomes, securing regulatory approvals, and adequately servicing its debt, which collectively pose significant hurdles to future growth and may lead to adverse impacts on the company's valuation.