Harrow

HROW

Market cap $1.48B

Harrow's recent debt refinancing, Melt Pharmaceuticals acquisition plans, and updated peak sales estimates reinforce the bullish thesis. Base case DCF modeling projects significant revenue growth through 2034, with relatively conservative assumptions on margins and product adoption. I reiterate a "Buy" rating for HROW stock, with ~88% upside to a $72.7 base case fair value, including some risk adjustments.

Frank Mullery Appointed Chief Executive Officer of ImprimisRx Bridseida Cruz Appointed Head of Quality of ImprimisRx NASHVILLE, Tenn., Oct. 06, 2025 (GLOBE NEWSWIRE) -- Harrow (Nasdaq: HROW), a leading provider of ophthalmic disease management solutions in North America, today announced leadership changes at its wholly-owned subsidiary, ImprimisRx.

Harrow, Inc. (NASDAQ:HROW ) Analyst/Investor Day September 26, 2025 11:30 AM EDT Company Participants Michael Biega - Vice President of Investor Relations & Communications Mark Baum - CEO & Chairman of the Board Andrew Boll - President, CFO & Corporate Secretary Conference Call Participants Mayank Mamtani - B. Riley Securities, Inc., Research Division Steven Seedhouse - Cantor Fitzgerald & Co., Research Division Lachlan Hanbury-Brown - William Blair & Company L.L.C.

NASHVILLE, Tenn., Sept. 26, 2025 (GLOBE NEWSWIRE) -- Harrow (Nasdaq: HROW), a leading provider of ophthalmic disease management solutions in North America, today announced that it has entered into an agreement to acquire Melt Pharmaceuticals, Inc., a clinical-stage pharmaceutical company pioneering non-opioid, non-IV therapies for sedation for medical procedures in the hospital, outpatient, and in-office settings. The closing of this acquisition is subject to customary closing conditions, including approval by Melt stockholders, excluding Harrow and Harrow-affiliated parties.

HAFA to Expand Harrow's Innovative Market Access Model Across Ophthalmic Portfolio Program will be available in late 2025 through the HarrowAccess.com Portal NASHVILLE, Tenn., Sept. 25, 2025 (GLOBE NEWSWIRE) -- Harrow (Nasdaq: HROW), a leading provider of ophthalmic disease management solutions in North America, today announced the launch of Harrow Access for All (“HAFA”), expanding Harrow's commitment to make it easier and more affordable for patients to access Harrow's full range of branded, generic, and compounded ophthalmic medications.

NASHVILLE, Tenn., Sept. 15, 2025 (GLOBE NEWSWIRE) -- Harrow (Nasdaq: HROW), a leading provider of ophthalmic disease management solutions in North America, today announced the agenda for its upcoming Investor & Analyst Day on Friday, September 26, from 11:30 a.m. ET to 3 p.m. ET in New York. The event will also be webcast live and instructions for accessing the webcast are below.

I'm bullish on Harrow due to the VEVYE Access for All program, which makes dry eye treatment affordable and drives strong prescription growth. VEVYE's discounted pricing addresses a massive, undertreated market, resulting in a 66% QoQ surge in prescriptions and rapid market penetration. Harrow's revenue growth is robust, averaging 43.7% YoY, with VEVYE expected to sustain momentum and push the company toward profitability.

Harrow's focused acquisition model in ophthalmic drugs enables high growth, with a diversified portfolio and limited R&D expenses. My DCF analysis suggests a fair value of $72.75 per share—nearly 100% upside—driven by strong revenue growth from Vevye, Byqlovi, and Iheezo. While debt refinancing is a risk, management is confident, and cash flow projections support ongoing growth and potential future acquisitions.

NASHVILLE, Tenn., Sept. 08, 2025 (GLOBE NEWSWIRE) -- Harrow (Nasdaq: HROW), a leading provider of ophthalmic disease management solutions in North America, today announced the pricing of its private offering (the “Offering”) of $250.0 million aggregate principal amount of 8.625% senior unsecured notes due 2030 (the “2030 Notes”). The 2030 Notes will be guaranteed on a senior unsecured basis by the Company's existing and future wholly-owned domestic restricted subsidiaries and any of its other restricted subsidiaries that guarantees or co-issues any of its indebtedness or any indebtedness of any of its subsidiaries that guarantees the 2030 Notes, subject to certain exceptions. The Offering is expected to close on September 12, 2025, subject to customary closing conditions.

Announces Commitment for New $40 Million Revolving Credit Facility Issues Conditional Notice of Redemption of 11.875% Senior Notes due 2027 NASHVILLE, Tenn., Sept. 08, 2025 (GLOBE NEWSWIRE) -- Harrow (Nasdaq: HROW), a leading provider of ophthalmic disease management solutions in North America, today announced that it has commenced a private offering (the “Offering”) of $250.0 million aggregate principal amount of senior unsecured notes due 2030 (the “2030 Notes”), subject to market and certain other conditions.