Goldman Sachs analyst Andrea Newkirk maintained a Hold rating on Tarsus Pharmaceuticals (TARS – Research Report) today and set a price target of $45.00.
Andrea Newkirk’s rating is based on Tarsus Pharmaceuticals’ recent performance and future prospects. The company reported strong fourth-quarter sales for its product Xdemvy, exceeding expectations due to effective commercial strategies, including an expanded sales force and increased payor coverage. Despite this positive momentum, there are uncertainties regarding the full potential of Xdemvy’s market, particularly in comorbid populations and retreatment rates, which are crucial for understanding its peak sales potential.
Additionally, while Tarsus is poised for growth with ongoing pipeline developments, such as upcoming trials for ocular rosacea and Lyme disease, these are still in early stages and do not yet contribute to immediate revenue. These factors combined suggest a balanced risk-reward scenario, leading to a Hold rating as the company navigates these uncertainties while capitalizing on its current market position.