Tarsus Pharmaceuticals assumed with an Outperform at Oppenheimer

Oppenheimer assumed coverage of Tarsus Pharmaceuticals (TARS) with an Outperform rating with a price target of $75, up from $72. The firm notes the company reported Q1 2025 topline of $78.3M, beating consensus estimates, with volume of about 72K surpassing guidance. XDEMVY’s momentum remains strong, driven by its growth initiatives. Management highlighted encouraging shifts in prescribing patterns from monthly to weekly prescribing, noting that thousands of target ECPs remain below capacity. Oppenheimer is encouraged by broad commercial, Medicare, and Medicaid coverage. With sales force expansion, coverage, DTC, and evidence generation progressing, plus a strengthened balance sheet, the firm believes XDEMVY’s momentum is well-poised to grow.