Harrow Health stock price target raised to $70 by B.Riley

Investing.com - B.Riley has raised its price target on Harrow Health (NASDAQ:HROW) to $70.00 from $65.00 while maintaining a Buy rating ahead of the company’s inaugural Investor & Analyst Day scheduled for September 26 in New York City.

The firm highlighted Harrow as one of its top ideas for the second half of 2025, noting the stock has gained over 45% quarter-to-date, compared to 13% for the IBB index. With impressive revenue growth of 47.7% and a robust gross profit margin of 74.6%, B.Riley views this as the beginning of sustained momentum as investor visibility improves on management’s goal of achieving a $1 billion-plus revenue run-rate by 2028.

This projected 3.5x top-line growth relative to the fiscal year 2025 guidance of $280 million-plus represents Harrow’s completed transformation to high-margin FDA-approved products with relatively lean commercial spending, potentially yielding earnings per share approaching $5. For deeper insights into Harrow’s growth potential and comprehensive financial analysis, check out the detailed research report available on InvestingPro.

At the upcoming analyst day, key opinion leaders will highlight market penetration across multiple end markets, including the fast-growing Vevye for dry eye disease, recently acquired anti-VEGF biosimilars OPUVIZ and BYOOVIZ, and the newly disclosed indication of interest to acquire the remaining equity interests of Melt Pharmaceuticals.

Harrow has also executed a $250 million senior unsecured 2030 Notes offering, with proceeds used to repay approximately $108 million of an Oaktree senior secured credit facility and to redeem 2026 and 2027 notes totaling $115 million, improving the company’s cost of capital.

In other recent news, Harrow Inc. reported second-quarter revenue of $63.7 million, marking a 30% increase compared to the previous year, although it did not meet H.C. Wainwright’s forecast of $68.0 million. The company achieved a net income of $5.0 million, or $0.13 per diluted share, surpassing the firm’s estimated income of $1.1 million. Harrow also announced the pricing of a $250 million private offering of 8.625% senior unsecured notes due in 2030, with the offering expected to close soon. Additionally, Harrow entered into a commitment with Fifth Third Bank for a new $40 million revolving credit facility. In leadership changes, Andrew R. Boll was appointed as president while continuing his roles as CFO and secretary, and Randall E. Pollard was named chief accounting officer. BTIG raised its price target on Harrow Health to $63, maintaining a Buy rating, based on the company’s 2025 sales guidance. Similarly, H.C. Wainwright increased its price target to $64, also maintaining a Buy rating, following the company’s recent financial results.

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