Harrow Health: Building an Integrated Ophthalmic Platform Poised for Accelerated Growth and $1 Billion Run-Rate by 2027

Thomas Shrader, an analyst from BTIG, maintained the Buy rating on Harrow Health. The associated price target remains the same with $63.00.

Thomas Shrader has given his Buy rating due to a combination of factors tied to Harrow Health’s expanding commercial footprint and product portfolio. He points to the company’s successful acquisitions that have yielded multiple ophthalmic products with substantial market potential, including VEVYE for dry eye disease and IHEEZO for interocular anesthesia, both of which are now transitioning from early, easier sales into a more aggressive market-building phase. Shrader highlights management’s intensified commercial strategy, including doubling the VEVYE sales force by Memorial Day 2026 after major formulary wins, broadening IHEEZO’s reach beyond retina practices, and expanding the surgical sales infrastructure behind TRIESENCE, all aimed at accelerating branded revenue growth and supporting reaffirmed 2025 revenue guidance of $270–280 million.

He further emphasizes Harrow’s strategic shift from a loose collection of assets to an integrated ophthalmic platform through the OneHarrow initiative, which should streamline branding and operations. The upcoming regulatory filings for MELT-300 and MELT-210, with MELT initially focused on cataract surgery pain and potentially expanding into other procedure settings, add another catalyst to the growth story. Shrader also notes that VEVYE already commands roughly 10% of the dry eye market and generates about $100 million in revenue, supporting peak sales projections around $500 million and contributing meaningfully toward a potential $1 billion annual run rate by 2027. Combined with favorable refill dynamics, strong early performance of IHEEZO, and a DCF-based valuation framework, these elements underpin his conviction in Harrow’s long-term upside and justify the Buy rating and $63 price target.

Shrader covers the Healthcare sector, focusing on stocks such as Aldeyra Therapeutics, NRX Pharmaceuticals, and Gain Therapeutics. According to TipRanks, Shrader has an average return of 3.3% and a 38.16% success rate on recommended stocks.

In another report released yesterday, Lake Street also reiterated a Buy rating on the stock with a $70.00 price target.