H.C. Wainwright analyst Matthew Caufield reiterated a Buy rating on Tarsus Pharmaceuticals today and set a price target of $88.00.
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Matthew Caufield has given his Buy rating due to a combination of factors that highlight Tarsus Pharmaceuticals’ strong market position and growth potential. The company’s product, XDEMVY, has shown impressive sales growth, with a 147% year-over-year increase, indicating robust market penetration in treating eyelid inflammation caused by demodex blepharitis. This growth is supported by increased eye care provider (ECP) confidence and a successful direct-to-consumer campaign that raises patient awareness.
Furthermore, the market for XDEMVY is still largely untapped, with only a fraction of the estimated 25 million potential patients in the U.S. having been treated. The product is being recognized as a significant advancement in eye care, leading to changes in prescriber practices to include a broader range of patients. With over 20,000 ECPs integrating XDEMVY into their practices and strong adoption among both optometrists and ophthalmologists, Caufield believes the company is well-positioned for continued commercial success, justifying the Buy rating and the $88 price target.