HROW Stock Analysis: Harrow Health | NASDAQ

Drug Manufacturers - Specialty & Generic | NASDAQ, USA | Market Cap: 1.720m USD | 12M Return: 17.4% | Charts, Fundamentals & Technical Analysis

Ophthalmic Pharmaceuticals, Compounded Medications, Eye Drops, Biosimilars

Total Rating 34

Safety 71

Buy Signal -0.30

Drug Manufacturers - Specialty & Generic
Industry Rotation: -5.5

Market Cap: 1.72B
Avg Turnover: 31.1M

Risk 3d forecast

Volatility66.1%

VaR 5^th Pctl10.1%

VaR vs Median-6.23%

Reward TTM

Sharpe Ratio0.56

Rel. Str. IBD45.1

Rel. Str. Peer Group43.8

Character TTM

Beta2.455

Beta Downside1.898

Hurst Exponent0.545

Drawdowns 3y

Max DD63.32%

CAGR/Max DD0.52

CAGR/Mean DD0.99

EPS (Earnings per Share)

Last SUE: -3.25
Qual. Beats: -2

Revenue

Rev. CAGR: 45.03%
Rev. Trend: 99.2%

Last SUE: -1.66
Qual. Beats: -1

Warnings

High Debt/EBITDA With Thin Interest Coverage

Interest Coverage Ratio Critical

Altman Z'' In Financial Distress Zone

Choppy

Tailwinds

No distinct edge detected

Seasonality 10.5 years of data

Jan -9.3% 31

Feb +4.9% 29

Mar -7.3% 24

Apr +1.3% 14

May +8.7% 27

Jun +2.4% 37

Jul -0.9% 8

Aug +19.6% 28

Sep -3.4% 33

Oct -1.5% 21

Nov +7.5% 2

Dec +11.0% 38

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: HROW Harrow Health

Harrow, Inc. (NASDAQ: HROW) is a U.S.-based eyecare pharmaceutical company that discovers, develops, and commercializes ophthalmic pharmaceutical products. Founded in 1998 and headquartered in Nashville, Tennessee, the company operates through two segments: Branded (marketed products) and ImprimisRx (compounded medications).

Its branded portfolio spans a wide range of therapeutic categories, including anti-inflammatories (ILEVRO, NEVANAC), antibiotics (VIGAMOX), steroids (MAXIDEX, FLAREX, TRIESENCE), antifungals (NATACYN), and treatments for conditions such as dry eye (VEVYE, ZERVIATE), allergic conjunctivitis (VERKAZIA), and anesthesia (IHEEZO). The company also markets biosimilars such as BYOOVIZ (a LUCENTIS biosimilar) and OPUVIZ (an EYLEA biosimilar), targeting wet age-related macular degeneration, retinal vein occlusion, diabetic macular edema, and diabetic retinopathy.

As a small-cap pharmaceutical company in the Health Care sector, Harrow combines traditional branded drug commercialization with a 503A compounding pharmacy business through ImprimisRx, allowing it to address both standardized treatment needs and customized patient-specific prescriptions in the specialty ophthalmology market.

Headlines to Watch Out For

IHEEZO adoption accelerates branded segment revenue growth
ImprimisRx compounded medications margins face reimbursement pressure
Anti-VEGF biosimilar competition intensifies in wet AMD market

Piotroski VR-10 (Strict) 4.0

Net Income: -15.0m TTM > 0 and > 6% of Revenue
FCF/TA: 0.03 > 0.02 and ΔFCF/TA 13.46 > 1.0
NWC/Revenue: 50.23% < 20% (prev -8.20%; Δ 58.42% < -1%)
CFO/TA 0.04 > 3% & CFO 15.2m > Net Income -15.0m
Net Debt (214.6m) to EBITDA (31.5m): 6.82 < 3
Current Ratio: 2.48 > 1.5 & < 3
Outstanding Shares: last quarter (37.2m) vs 12m ago 3.92% < -2%
Gross Margin: 74.11% > 18% (prev 74.53%; Δ -0.42% > 0.5%)
Asset Turnover: 68.57% > 50% (prev 58.45%; Δ 10.11% > 0%)
Interest Coverage Ratio: 0.52 > 6 (EBIT TTM 12.0m / Interest Expense TTM 23.1m)

Altman Z'' 0.96

A: 0.32 (Total Current Assets 226.4m - Total Current Liabilities 91.4m) / Total Assets 419.5m
B: -0.44 (Retained Earnings -184.1m / Total Assets 419.5m)
C: 0.03 (EBIT TTM 12.0m / Avg Total Assets 391.9m)
D: 0.07 (Book Value of Equity 28.7m / Total Liabilities 391.2m)
Altman-Z'' = 0.96 = BB

Beneish M -2.89

DSRI: 1.04 (Receivables 101.3m/77.3m, Revenue 268.7m/212.9m)
GMI: 1.01 (GM 74.53% / 74.11%)
AQI: 0.87 (AQ_t 0.43 / AQ_t-1 0.50)
SGI: 1.26 (Revenue 268.7m / 212.9m)
TATA: -0.07 (NI -15.0m - CFO 15.2m) / TA 419.5m)
Beneish M = -2.89 (Cap -4..+1) = A

What is the price of HROW shares?

As of July 14, 2026, the stock is trading at USD 41.81 with a total of 288,924 shares traded. Over the past week, the price has changed by -6.94%, over one month by +7.40%, over three months by +12.70% and over the past year by +17.38%.

Current recommended Stop Loss: 39.20 (which is 6.2% or 1.2 ATR below the current price).

Is HROW a buy, sell or hold?

Harrow Health has received a consensus analysts rating of 4.80. Therefore, it is recommended to buy HROW.

StrongBuy: 4
Buy: 1
Hold: 0
Sell: 0
StrongSell: 0

What are the forecasts/targets for the HROW price?

Analysts Target Price	67.8	62%

Harrow Health (HROW) - Fundamental Data Overview as of 09 July 2026

Market Cap USD = 1.72b (1.72b USD * 1.0 USD.USD)
P/E Forward = 285.7143
P/S = 6.4027
P/B = 55.4984
Revenue TTM = 268.7m USD
EBIT TTM = 12.0m USD
EBITDA TTM = 31.5m USD
Long Term Debt = 292.1m USD (from longTermDebt, last quarter)
Short Term Debt = 915k USD (from shortTermDebt, last quarter)
Debt = 309.2m USD (from shortLongTermDebtTotal, last quarter) + Leases 8.58m
Net Debt = 214.6m USD (calculated: Debt 309.2m - CCE 94.6m)
Enterprise Value = 1.93b USD (1.72b + Debt 309.2m - CCE 94.6m)
Interest Coverage Ratio = 0.52 (Ebit TTM 12.0m / Interest Expense TTM 23.1m)
EV/FCF = 135.5x (Enterprise Value 1.93b / FCF TTM 14.3m)
FCF Yield = 0.74% (FCF TTM 14.3m / Enterprise Value 1.93b)
FCF Margin = 5.31% (FCF TTM 14.3m / Revenue TTM 268.7m)
Net Margin = -5.57% (Net Income TTM -15.0m / Revenue TTM 268.7m)
Gross Margin = 74.11% ((Revenue TTM 268.7m - Cost of Revenue TTM 69.6m) / Revenue TTM)
Gross Margin QoQ = 61.18% (prev 79.27%)
Tobins Q-Ratio = 4.61 (Enterprise Value 1.93b / Total Assets 419.5m)
Interest Expense / Debt = 7.48% (Interest Expense 23.1m / Debt 309.2m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 9.45m (EBIT 12.0m * (1 - 21.00%))
Current Ratio = 2.48 (Total Current Assets 226.4m / Total Current Liabilities 91.4m)
Debt / Equity = 10.77 (Debt 309.2m / totalStockholderEquity, last quarter 28.7m)
Debt / EBITDA = 6.82 (Net Debt 214.6m / EBITDA 31.5m)
Debt / FCF = 15.03 (Net Debt 214.6m / FCF TTM 14.3m)
Total Stockholder Equity = 44.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -3.82% (Net Income -15.0m / Total Assets 419.5m)
RoE = -33.65% (Net Income TTM -15.0m / Total Stockholder Equity 44.5m)
RoCE = 3.55% (EBIT 12.0m / Capital Employed (Equity 44.5m + L.T.Debt 292.1m))
RoIC = 2.99% (NOPAT 9.45m / Invested Capital 315.6m)
WACC = 13.29% (E(1.72b)/V(2.03b) * Re(14.62%) + D(309.2m)/V(2.03b) * Rd(7.48%) * (1-Tc(0.21)))
Discount Rate = 14.62% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 70.08 | Cagr: 2.33%
[DCF] Terminal Value 60.17% ; FCFF base≈14.3m ; Y1≈14.3m ; Y5≈15.2m
[DCF] Fair Price = N/A (negative equity: EV 128.4m - Net Debt 214.6m = -86.2m; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -3.25 | # QB: -2
Revenue Correlation: 99.24 | Revenue CAGR: 45.03% | SUE: -1.66 | # QB: -1
EPS current Quarter (2026-06-30): EPS=-0.23 | Chg30d=+0.00% | Revisions=-25% | Analysts=3
EPS next Quarter (2026-09-30): EPS=0.36 | Chg30d=+0.00% | Revisions=+25% | Analysts=3
EPS current Year (2026-12-31): EPS=0.44 | Chg30d=+0.00% | Revisions=+0% | GrowthEPS=+0.0% | GrowthRev=+27.9%
EPS next Year (2027-12-31): EPS=2.68 | Chg30d=+0.00% | Revisions=-40% | GrowthEPS=+503.8% | GrowthRev=+48.0%
[Analyst] Revisions Ratio: -29% (up=1, down=3)