William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on TARS stock, giving a Buy rating on October 20.
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Lachlan Hanbury Brown has given his Buy rating due to a combination of factors including Tarsus Pharmaceuticals’ strong financial performance and strategic growth initiatives. The company reported Xdemvy revenue that slightly exceeded expectations, with a notable increase in the number of bottles delivered, indicating strong demand and effective distribution. Additionally, the management’s guidance for the fourth quarter suggests continued revenue growth, supported by stable inventory levels and gross-to-net discounts.
Furthermore, the expanding base of eye care professionals prescribing Xdemvy, along with the successful direct-to-consumer campaign, highlights the company’s ability to broaden its market reach. The increase in unaided awareness among consumers and the initiation of the Phase II study of TP-04 also contribute to the positive outlook. These elements collectively suggest a promising growth trajectory for Tarsus Pharmaceuticals, justifying the Buy rating.
Hanbury Brown covers the Healthcare sector, focusing on stocks such as ARS Pharmaceuticals, Ocular Therapeutix, and Harrow Health. According to TipRanks, Hanbury Brown has an average return of 13.6% and a 57.89% success rate on recommended stocks.
In another report released on October 20, H.C. Wainwright also reiterated a Buy rating on the stock with a $88.00 price target.