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Summary

Harrow trades at a 52-week low due to management miscommunication and short-term revenue volatility, but its fundamentals remain robust.

Vevye and Iheezo, Harrow's flagship drugs, both address large, underpenetrated markets and are positioned for significant growth as coverage expands and pricing stabilizes.

Temporary headwinds, including inventory dynamics and coverage transitions, have obscured accelerating prescription trends and pricing tailwinds expected to materialize in H2 and beyond.

DCF analysis suggests Vevye and Iheezo alone justify a 40% higher share price, under conservative growth assumptions, with additional upside from other branded drugs and an established distribution network.

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Harrow ( HROW ) has been a frustrating stock to own recently; management's inability to manage expectations has resulted in Harrow missing consensus estimates 5 times in the past 8 quarters.…