William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on TARS stock, giving a Buy rating yesterday.
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Lachlan Hanbury Brown has given his Buy rating due to a combination of factors that highlight Tarsus Pharmaceuticals’ promising outlook. The successful launch of Xdemvy, a treatment for Demodex blepharitis, has been a significant driver for the company. The ease of diagnosis and the drug’s strong efficacy and safety profile, coupled with strategic prelaunch educational efforts targeting eye care professionals and payers, have contributed to its rapid adoption.
Furthermore, the company’s growth strategies, including an expanded salesforce and direct-to-consumer marketing initiatives, are expected to further enhance prescribing depth and frequency. The initial success of these marketing efforts, as evidenced by increased website engagement and the use of tools like the ‘find a doctor’ feature, suggests a growing demand for Xdemvy. Additionally, upcoming Phase IV studies are anticipated to provide further data to support prescribing in broader patient populations, reinforcing the potential for sustained growth.
According to TipRanks, Hanbury Brown is a 3-star analyst with an average return of 6.2% and a 60.00% success rate. Hanbury Brown covers the Healthcare sector, focusing on stocks such as Apellis Pharmaceuticals, ARS Pharmaceuticals, and Ocular Therapeutix.
In another report released yesterday, Oppenheimer also initiated coverage with a Buy rating on the stock with a $75.00 price target.