Tarsus Pharmaceuticals price target raised to $65 from $63 at Oppenheimer

Oppenheimer raised the firm’s price target on Tarsus Pharmaceuticals (TARS) to $65 from $63 and keeps an Outperform rating on the shares. The firm notes Tarsus reported Q3 with $48.1M topline, beating both its estimated $44.3M and Street’s $43M estimate on strong 40% G/ N. Oppenheimer is impressed by the company’s progress with target ECPs, with over 13,000 ECPs already prescribing Xdemvy. The firm expects Tarsus’ initiatives to further drive Xdemvy’s growth. Encouraged by positive MGD data, Oppenheimer looks forward to the company’s strategic commercialization strategy.