| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 34 | — | 17.6x | Bottom tier | |
Growth | 77 | 21.1% | 7.1% | Top tier | |
Quality | 39 | -2.1% | 4.5% | Bottom tier | |
Safety | 35 | — | 2.6x | Bottom tier | |
Capital Return | 25 | — | 2.15% | Bottom tier | |
Momentum | 32 | 4.7% | 2.3% | Bottom tier | |
Sentiment | 73 | 5 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Harrow Health is a pharmaceutical company specializing in ophthalmology, generating revenue from branded pharmaceutical products and compounded preparations marketed to eye care practitioners. Its commercial drivers include VEVYE for dry eye treatment, IHEEZO for surface anesthesia in ophthalmic procedures, and TRIESENCE, alongside its specialty and compounded preparation portfolios; it also launched Byooviz on July 1, 2026, and relaunched VERKAZIA, while IOPIDINE received a permanent reimbursement code on the same date.
In Q2 fiscal 2026, revenue reached $70.7 million, up 11% year over year and approximately 60% sequentially, while gross profit was $50.4 million at a 71% gross margin. However, the company recorded a net loss of $17.3 million, or $0.46 per share, and adjusted earnings before interest, taxes, depreciation, and amortization were negative $1.2 million. On a trailing twelve-month basis according to the latest 2026 data, revenue was $275.6 million and gross profit was $202.0 million, compared with a net loss of $37.2 million.
Q2 fiscal 2026 revenue was distributed among $29.4 million from VEVYE, representing approximately 42% of the total, $15.6 million from IHEEZO, approximately $11 million from TRIESENCE and the specialty portfolio, and $14.6 million from compounded preparations. This mix reflects growth driven by multiple products, but VEVYE and IHEEZO together accounted for approximately 64% of quarterly revenue, so the pace of prescription growth and the conversion of IHEEZO demand into revenue will remain decisive factors for results.
Automated analysis for informational purposes only — not investment advice.
The average analyst price target is $73.67, within a wide range of $63 to $88, and the consensus rating is Buy. The average target is approximately 34% above the 52-week range high of $54.85, and even the lowest target exceeds that high, but the absence of a positive price-to-earnings multiple due to losses makes these targets highly sensitive to the success of the second-half fiscal 2026 revenue surge and the company's transition to profitability.
Figures in the text are as of 2026-09-02; the live price is shown at the top of the page.
Harrow sells specialty ophthalmic drugs and products, alongside a portfolio of compounded preparations. In Q2 fiscal 2026, VEVYE generated revenue of $29.4 million and IHEEZO generated approximately $15.6 million. TRIESENCE and the specialty portfolio contributed approximately $11 million, compared with $14.6 million from compounded preparations.
VEVYE prescriptions increased by 21% sequentially in Q2 fiscal 2026, while the prescriber base grew by 15% and revenue reached $29.4 million. The product's share of the branded dry eye drug market reached 14.6% at the end of June 2026, compared with 7.8% a year earlier. New commercial coverage through one of the three largest pharmacy benefit managers also began on August 1, 2026, giving the product access to millions of beneficiaries who were previously blocked.
Management reiterated fiscal 2026 guidance of revenue between $350 million and $365 million and adjusted earnings before interest, taxes, depreciation, and amortization between $80 million and $100 million. Since first-half revenue was approximately $115 million, the required second-half amount ranges from $235 million to $250 million. The company is relying on growth from IHEEZO, VEVYE, and TRIESENCE, the launch of Byooviz, and the relaunch of VERKAZIA, but it expects the largest jump to occur in Q4 fiscal 2026, increasing execution risk.
On August 6, 2026, Harrow announced a definitive agreement to acquire worldwide rights to TYRVAYA from Viatris for $30 million in cash at closing and potential performance-related payments of up to $70 million. The product is an FDA-approved nasal spray for treating dry eye and is approved in the United States and China and under review in five additional countries. Management expects a modest contribution in fiscal 2026 and more than $30 million in revenue during 2027, assuming exclusivity through 2034. These expectations remain conditional on the transaction closing and the successful integration of the product and its commercial team.
IHEEZO recorded record demand of 65,477 units in Q2 fiscal 2026, up 44% sequentially and 34% year over year, despite losing transitional pass-through reimbursement on April 1, 2026. The number of ordering accounts reached 224, including 62 accounts that placed their first order during the quarter, and the reorder rate over the preceding twelve months was approximately 85.5%. The company is now focusing on the in-office procedure market, which adds more than 2.5 million procedures annually, while management indicated that IHEEZO's share of its total addressable market remains below 2%.
The MELT-300 program aims to provide rapid procedural anesthesia without intravenous injections or opioids, and the company scheduled a pre-licensing application meeting with the FDA for early Q4 fiscal 2026. Harrow is targeting submission of the licensing application in the first half of 2027, with potential approval in the first half of 2028 and a subsequent launch in the same year if the review is successful. For MELT-210, which is intended for children, the company is revising the pharmacokinetic study protocol based on FDA feedback and targets submitting its application in 2027.
