HROW Chart
About

Harrow, Inc., an eyecare pharmaceutical company, engages in the discovery, development, and commercialization of ophthalmic pharmaceutical products in the United States. It operates through Branded and ImprimisRx segments. The company offers ImprimisRx, an ophthalmology-focused compounded medications. It also provides IHEEZO, a chloroprocaine hydrochloride ophthalmic gel; ophthalmic solutions, including IOPIDINE, VEVYE, and ZERVIATE, as well as BYQLOVI; MAXITROL eye drops; ILEVRO and NEVANAC, a non-steroidal and anti-inflammatory eye drop for pain and inflammation associated with cataract surgery; BYOOVIZ, a LUCENTIS biosimilar indicated for the treatment of patients with Neovascular (Wet) age-related macular degeneration (AMD), macular edema following retinal vein occlusion (RVO), and myopic choroidal neovascularization (mCNV); VIGAMOX, a fluoroquinolone antibiotic eye drop for the treatment of bacterial conjunctivitis; OPUVIZ, an EYLEA biosimilar indicated for the treatment of patients with Wet AMD, macular edema following RVO, diabetic macular edema (DME), and diabetic retinopathy (DR); MAXIDEX and FLAREX, a steroid eye drop for steroid-responsive inflammatory conditions of the palpebral and bulbar conjunctiva, cornea, and anterior segment of the globe and the eye; TRIESENCE, a steroid injection for the treatment of ophthalmic diseases and for visualization during vitrectomy; and NATACYN, a sterile, antifungal drug for the treatment of fungal blepharitis, conjunctivitis, and keratitis. In addition, it offers TOBRADEX ST, a tobramycin and dexamethasone ophthalmic suspension; VERKAZIA cyclosporine ophthalmic emulsion; NEVANAC, a non-steroidal, anti-inflammatory eye drop; and FRESHKOTE preservative free (PF) is a lubricant eye drop. The company was formerly known as Harrow Health, Inc. and changed its name to Harrow, Inc. in September 2023. Harrow, Inc. was founded in 1998 and is headquartered in Nashville, Tennessee.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Drug Manufacturers - Spe Market Cap 1.35B
Enterprise Value 1.52B Income -5.14M Sales 272.30M
Book/sh 1.41 Cash/sh 2.02 Dividend Yield
Payout 0.00% Employees 373 IPO
P/E Forward P/E 15.56 PEG
P/S 4.96 P/B 25.73 P/C
EV/EBITDA 31.13 EV/Sales 5.58 Quick Ratio 1.93
Current Ratio 2.20 Debt/Eq 483.72 LT Debt/Eq
EPS (ttm) -0.14 EPS next Y 2.33 EPS Growth -10.30%
Revenue Growth 33.30% Earnings 2026-05-07 ROA 4.84%
ROE -8.47% ROIC Gross Margin 75.05%
Oper. Margin 17.50% Profit Margin -1.89% Shs Outstand 37.23M
Shs Float 27.34M Short Float 19.50% Short Ratio 11.45
Short Interest 52W High 54.85 52W Low 20.85
Beta 0.10 Avg Volume 710.93K Volume 470.36K
Target Price $69.62 Recom Strong_buy Prev Close $36.08
Price $36.26 Change 0.50%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$69.63
Mean price target
2. Current target
$36.26
Latest analyst target
3. DCF / Fair value
$21.85
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$36.26
Low
$59.00
High
$91.00
Mean
$69.63

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-04 main Cantor Fitzgerald Overweight → Overweight $91
2026-03-04 main HC Wainwright & Co. Buy → Buy $70
2025-11-12 main Ladenburg Thalmann Buy → Buy $66
2025-11-12 main HC Wainwright & Co. Buy → Buy $69
2025-10-01 reit B. Riley Securities Buy → Buy $74
2025-09-29 main Lake Street Buy → Buy $70
2025-09-29 reit HC Wainwright & Co. Buy → Buy $64
2025-09-29 reit BTIG Buy → Buy $63
2025-09-24 reit BTIG Buy → Buy $63
2025-09-23 main B. Riley Securities Buy → Buy $70
2025-09-23 main Craig-Hallum Buy → Buy $64
2025-09-23 reit BTIG Buy → Buy $63
2025-08-14 main BTIG Buy → Buy $63
2025-08-13 main HC Wainwright & Co. Buy → Buy $64
2025-07-11 init Cantor Fitzgerald — → Overweight $76
2025-06-10 init William Blair — → Outperform
2025-05-12 main HC Wainwright & Co. Buy → Buy $60
2025-04-01 main B. Riley Securities Buy → Buy $65
2025-03-31 reit HC Wainwright & Co. Buy → Buy $57
2025-03-18 reit HC Wainwright & Co. Buy → Buy $57
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 198572 7846426.0 Sale at price 39.15 - 39.67 per share. OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security 2026-03-04 00:00:00 I
1 5000 270900.0 Sale at price 54.18 per share. OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security 2026-02-27 00:00:00 I
2 20000 1066914.0 Sale at price 53.35 per share. OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security 2026-01-06 00:00:00 I
3 180000 711000.0 Conversion of Exercise of derivative security at price 3.95 per share. BAUM MARK L Chief Executive Officer 2025-12-12 00:00:00 D
4 60000 237000.0 Conversion of Exercise of derivative security at price 3.95 per share. BOLL ANDREW R President 2025-12-12 00:00:00 D
5 600000 4722000.0 Conversion of Exercise of derivative security at price 7.87 per share. BAUM MARK L Chief Executive Officer 2025-07-21 00:00:00 D
6 30204 923827.0 Sale at price 30.37 - 30.80 per share. OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security 2025-06-10 00:00:00 I
7 4796 144024.0 Sale at price 30.02 - 30.04 per share. OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security 2025-06-04 00:00:00 I
8 15000 391904.0 Sale at price 25.90 - 26.59 per share. OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security 2025-05-13 00:00:00 I
9 762300 nan BAUM MARK L Chief Executive Officer 2025-04-03 00:00:00 D
Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems-1.63M-719.04K-578.13K492.45K
TaxRateForCalcs0.210.210.210.21
NormalizedEBITDA50.24M23.43M12.71M-5.45M
TotalUnusualItems-7.75M-3.42M-2.75M2.35M
TotalUnusualItemsExcludingGoodwill-7.75M-3.42M-2.75M2.35M
NetIncomeFromContinuingOperationNetMinorityInterest-5.14M-17.48M-24.41M-14.09M
ReconciledDepreciation19.68M14.54M12.34M3.67M
ReconciledCostOfRevenue67.93M49.24M39.64M25.38M
EBITDA42.49M20.00M9.95M-3.10M
EBIT22.81M5.47M-2.39M-6.77M
NetInterestIncome-24.18M-22.79M-21.32M-7.24M
InterestExpense24.18M22.79M21.32M7.24M
NormalizedIncome983.50K-14.78M-22.24M-15.94M
NetIncomeFromContinuingAndDiscontinuedOperation-5.14M-17.48M-24.41M-14.09M
TotalExpenses241.79M190.54M129.38M86.68M
TotalOperatingIncomeAsReported30.52M8.82M431.00K1.92M
DilutedAverageShares36.76M35.65M32.62M27.62M
BasicAverageShares36.76M35.65M32.62M27.62M
DilutedEPS-0.14-0.49-0.75-0.51
BasicEPS-0.14-0.49-0.75-0.51
DilutedNIAvailtoComStockholders-5.14M-17.48M-24.41M-14.09M
NetIncomeCommonStockholders-5.14M-17.48M-24.41M-14.09M
PreferredStockDividends472.00K
NetIncome-5.14M-17.48M-24.41M-14.09M
MinorityInterests0.00
NetIncomeIncludingNoncontrollingInterests-5.14M-17.48M-24.41M-14.09M
NetIncomeContinuousOperations-5.14M-17.48M-24.41M-14.09M
TaxProvision3.77M161.00K701.00K75.00K
PretaxIncome-1.37M-17.32M-23.71M-14.01M
OtherIncomeExpense-7.70M-3.61M-3.20M-8.69M
OtherNonOperatingIncomeExpenses47.00K-185.00K-444.00K102.00K
SpecialIncomeCharges-7.75M-253.00K-5.84M5.26M
GainOnSaleOfPPE0.005.26M0.00
OtherSpecialCharges7.75M5.46M-1.21M
ImpairmentOfCapitalAssets0.00253.00K380.00K0.00
EarningsFromEquityInterest0.00-11.13M-5.33M
GainOnSaleOfSecurity-3.17M3.09M-2.91M-10.13M
NetNonOperatingInterestIncomeExpense-24.18M-22.79M-21.32M-7.24M
TotalOtherFinanceCost7.24M5.44M
InterestExpenseNonOperating24.18M22.79M21.32M7.24M
OperatingIncome30.52M9.07M811.00K1.92M
OperatingExpense173.85M141.29M89.74M61.29M
ResearchAndDevelopment20.94M12.23M6.65M3.05M
SellingGeneralAndAdministration152.91M129.06M83.09M58.24M
GrossProfit204.37M150.37M90.55M63.21M
CostOfRevenue67.93M49.24M39.64M25.38M
TotalRevenue272.30M199.61M130.19M88.59M
OperatingRevenue271.91M198.62M117.45M88.59M
Line Item2025-12-312024-12-312023-12-312022-12-31
OrdinarySharesNumber37.23M35.62M35.17M29.90M
ShareIssued37.23M35.62M35.17M29.90M
NetDebt170.26M172.29M111.80M7.90M
TotalDebt251.98M228.83M193.22M112.23M
TangibleBookValue-124.24M-117.38M-91.61M1.43M
InvestedCapital295.63M289.19M256.65M131.77M
WorkingCapital115.45M98.31M90.14M99.63M
NetTangibleAssets-124.24M-117.38M-91.61M1.43M
CapitalLeaseObligations8.79M9.29M7.33M8.05M
CommonStockEquity52.45M69.65M70.77M27.59M
TotalCapitalization295.63M289.19M256.65M131.77M
TotalEquityGrossMinorityInterest52.09M69.30M70.41M27.24M
MinorityInterest-355.00K-355.00K-355.00K-355.00K
StockholdersEquity52.45M69.65M70.77M27.59M
RetainedEarnings-156.52M-151.38M-133.90M-109.49M
AdditionalPaidInCapital208.93M221.00M204.63M137.06M
CapitalStock37.00K35.00K35.00K30.00K
CommonStock37.00K35.00K35.00K30.00K
TotalLiabilitiesNetMinorityInterest347.39M319.67M241.75M130.14M
TotalNonCurrentLiabilitiesNetMinorityInterest251.09M228.33M192.41M111.51M
NonCurrentAccruedExpenses2.71M0.000.00
LongTermDebtAndCapitalLeaseObligation251.09M228.33M192.41M111.51M
LongTermCapitalLeaseObligation7.91M8.79M6.52M7.33M
LongTermDebt243.18M219.54M185.88M104.17M
CurrentLiabilities96.30M91.34M49.34M18.63M
CurrentDeferredLiabilities788.00K44.00K75.00K113.00K
CurrentDeferredRevenue788.00K44.00K75.00K113.00K
CurrentDebtAndCapitalLeaseObligation887.00K497.00K806.00K723.00K
CurrentCapitalLeaseObligation887.00K497.00K806.00K723.00K
PayablesAndAccruedExpenses94.63M90.80M48.46M17.80M
CurrentAccruedExpenses59.27M52.04M27.04M11.36M
InterestPayable6.50M2.54M1.98M1.25M
Payables35.35M38.76M21.42M6.44M
AccountsPayable35.35M38.76M21.42M6.44M
TotalAssets399.48M388.97M312.16M157.38M
TotalNonCurrentAssets187.73M199.32M172.68M39.12M
NonCurrentDeferredAssets0.001.95M0.00
InvestmentsAndAdvances0.0011.13M
LongTermEquityInvestment0.0011.13M
InvestmentsinSubsidiariesatCost0.0011.13M
GoodwillAndOtherIntangibleAssets176.69M187.03M162.38M26.17M
OtherIntangibleAssets176.36M186.70M162.04M25.84M
Goodwill332.00K332.00K332.00K332.00K
NetPPE11.04M12.29M10.31M11.00M
AccumulatedDepreciation-12.22M-11.01M-10.07M-9.06M
GrossPPE23.27M23.30M20.38M20.06M
Leases7.43M7.29M6.77M6.45M
OtherProperties13.71M13.86M11.35M11.77M
MachineryFurnitureEquipment2.13M2.15M2.26M1.84M
BuildingsAndImprovements6.79M7.51M5.93M
Properties0.000.000.000.00
CurrentAssets211.75M189.65M139.48M118.26M
OtherCurrentAssets2.13M3.41M1.75M118.00K
CurrentDeferredAssets0.00409.00K0.00
PrepaidAssets12.28M11.69M7.20M3.35M
Inventory13.52M10.70M10.87M6.54M
FinishedGoods5.53M4.48M5.34M2.80M
WorkInProcess1.04M858.00K54.00K38.00K
RawMaterials6.96M5.36M5.48M3.71M
Receivables110.89M116.60M36.49M6.39M
DuefromRelatedPartiesCurrent0.00228.00K228.00K139.00K
AccountsReceivable110.89M116.37M36.26M6.25M
AllowanceForDoubtfulAccountsReceivable-27.03M-20.15M-15.25M-779.00K
GrossAccountsReceivable137.92M136.52M51.51M7.03M
CashCashEquivalentsAndShortTermInvestments72.93M47.25M82.77M101.86M
OtherShortTermInvestments0.008.68M5.59M8.50M
CashAndCashEquivalents72.93M47.25M74.08M96.27M
CashFinancial72.93M47.25M74.08M96.27M
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow42.76M-60.88M-148.71M-6.07M
RepurchaseOfCapitalStock0.00-11.00M
RepaymentOfDebt-230.90M0.00-59.75M-18.00K
IssuanceOfDebt244.38M29.78M60.84M31.74M
IssuanceOfCapitalStock0.000.00138.07M22.66M
CapitalExpenditure-1.10M-38.67M-152.55M-7.77M
InterestPaidSupplementalData18.72M20.59M18.89M6.48M
IncomeTaxPaidSupplementalData93.00K374.00K0.0075.00K
EndCashPosition72.93M47.25M74.08M96.27M
BeginningCashPosition47.25M74.08M96.27M42.17M
ChangesInCash25.68M-26.84M-22.18M54.10M
FinancingCashFlow-12.72M28.53M126.53M54.14M
CashFlowFromContinuingFinancingActivities-12.72M28.53M126.53M54.14M
NetOtherFinancingCharges-26.66M-2.36M-13.01M-876.00K
ProceedsFromStockOptionExercised467.00K1.11M379.00K642.00K
CashDividendsPaid0.00-127.00K
PreferredStockDividendPaid0.00-127.00K
NetPreferredStockIssuance0.00-345.00K
PreferredStockPayments0.00-11.00M
PreferredStockIssuance0.0010.65M
NetCommonStockIssuance0.000.00138.07M22.66M
CommonStockIssuance0.000.00138.07M22.66M
NetIssuancePaymentsOfDebt13.47M29.78M1.09M31.72M
NetLongTermDebtIssuance13.47M29.78M1.09M31.72M
LongTermDebtPayments-230.90M0.00-59.75M-18.00K
LongTermDebtIssuance244.38M29.78M60.84M31.74M
InvestingCashFlow-5.46M-33.16M-152.55M-1.74M
CashFlowFromContinuingInvestingActivities-5.46M-33.16M-152.55M-1.74M
NetOtherInvestingChanges6.00M
NetInvestmentPurchaseAndSale0.005.51M0.000.00
SaleOfInvestment0.005.51M0.000.00
NetBusinessPurchaseAndSale-4.36M0.000.009.83M
SaleOfBusiness9.83M
PurchaseOfBusiness-4.36M0.000.00
NetIntangiblesPurchaseAndSale-215.00K-37.08M-151.09M-5.18M
PurchaseOfIntangibles-215.00K-37.08M-151.09M-5.18M
NetPPEPurchaseAndSale-887.00K-1.59M-1.46M-2.57M
SaleOfPPE0.0030.00K0.00
PurchaseOfPPE-887.00K-1.59M-1.46M-2.60M
CapitalExpenditureReported0.00-12.59M
OperatingCashFlow43.86M-22.20M3.84M1.71M
CashFlowFromContinuingOperatingActivities43.86M-22.20M3.84M1.71M
ChangeInWorkingCapital185.00K-44.63M-7.13M-5.57M
ChangeInOtherWorkingCapital744.00K-31.00K-38.00K97.00K
ChangeInPayablesAndAccruedExpense-3.67M41.54M33.22M1.87M
ChangeInAccruedExpense936.00K4.05M1.43M936.00K
ChangeInPayable-4.61M37.50M31.80M933.00K
ChangeInAccountPayable-4.61M37.50M31.80M933.00K
ChangeInPrepaidAssets924.00K-6.07M-5.65M-3.35M
ChangeInInventory-2.82M165.00K-4.33M-2.32M
ChangeInReceivables5.01M-80.23M-30.34M-1.86M
ChangesInAccountReceivables5.01M-80.23M-30.34M-1.86M
OtherNonCashItems4.05M4.21M4.10M782.00K
StockBasedCompensation12.50M17.62M15.70M7.97M
ProvisionandWriteOffofAssets468.00K120.00K332.00K81.00K
AssetImpairmentCharge0.00253.00K380.00K0.00
DepreciationAmortizationDepletion19.68M14.54M12.34M3.67M
DepreciationAndAmortization19.68M14.54M12.34M3.67M
AmortizationCashFlow17.59M12.36M10.56M1.58M
AmortizationOfIntangibles17.59M12.36M10.56M1.58M
Depreciation2.09M2.17M1.78M2.09M
OperatingGainsLosses12.12M3.17M2.54M8.86M
EarningsLossesFromEquityInvestments0.003.17M-3.09M14.05M
GainLossOnSaleOfPPE13.00K0.00168.00K-5.19M
GainLossOnSaleOfBusiness4.36M0.000.00
NetIncomeFromContinuingOperations-5.14M-17.48M-24.41M-14.09M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for HROW
Date User Broker Pattern Type Position Size Entry Price Trade P&L Status