Jefferies raised the firm’s price target on Tarsus Pharmaceuticals (TARS) to $58 from $54 and keeps a Buy rating on the shares. The firm says it is surprised the stock is down over 20% year-to-date given the impressive Q4 and FY24 results, which outperformed expectations every quarter; its outlook for about 100% revenue growth in 2025; and the company quickly approaching cash flow breakeven. As a result, Jefferies does not think the shares in the mid-40s adequately reflect the successful Xdemvy launch plus the path to profitability, which it believes is 2025/2026.
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