Why Is HARROW INC (HROW) Stock Down Today?

Harrow Inc (HROW) shares fell 5.22% to $28.78, driven by a significant reduction in full-year profit guidance despite record quarterly revenue. The company cut its 2026 adjusted EBITDA outlook to more than $40 million from a previous range of $80 million to $100 million. This adjustment followed the announcement of Q3 2026 results, which included a failed clinical trial that weighed on sentiment.

What Happened

Harrow reported record Q3 2026 revenue of $99.3 million, marking a 21.3% increase on a trailing twelve-month basis. Management reaffirmed its full-year revenue guidance of $350 million to $365 million, which sits slightly above the consensus estimate of $349.66 million. However, the company reset its adjusted EBITDA outlook downward, signaling margin pressure despite strong top-line growth. Craig-Hallum lowered its price target to $56 from $59, while BTIG reiterated its Buy rating and maintained a $63 price target. The earnings call highlighted a collision between record branded sales and the cut to profit guidance.

What The Data Shows

The stock opened at $30.04, a 1.1% gap down from the prior close of $30.36. It reached a session high of $31.19 at 8:55 AM ET before sliding to a session low of $28.73 at 11:45 AM ET. Volume stood at 0.2 million shares, which is 0.4 times the three-month daily average. Harrow has a market capitalization of $1.0 billion and remains unprofitable with a trailing twelve-month EPS of negative $0.77 and a net margin of negative 9.4%. The stock has a beta of 0.17 and trades within a 52-week range of $25.76 to $54.85. On November 11, 2026, the stock printed one fresh 52-week high and ten fresh 52-week lows. Recent insider activity includes one sale totaling $450,000 by Chief Scientific Officer Amir Shojaei on August 14, 2026.

What To Watch

Investors will monitor the company's ability to deliver on its reaffirmed revenue targets while managing the reduced EBITDA outlook. The upcoming Q4 revenue guidance of roughly $136 million to $151 million provides a near-term benchmark for performance.