Symbols / TARS Stock $64.79 +5.71% Tarsus Pharmaceuticals, Inc.

Healthcare • Biotechnology • United States • NMS
TARS (Stock) Chart
O: — H: — L: — C: — V: —
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Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Healthcare
Industry Biotechnology
CEO Dr. Bobak R. Azamian M.D.
Exch · Country NMS · United States
Market Cap 2.79B
Enterprise Value 2.49B
Income -48.27M
Sales 535.08M
FCF (ttm) -21.27M
Book/sh 8.07
Cash/sh 9.04
Employees 370
Insider 10d —
IPO Oct 16, 2020
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E —
Forward P/E 23.66
PEG —
P/S 5.21
P/B 8.03
P/C —
EV/EBITDA -50.75
EV/Sales 4.65
Quick Ratio 3.53
Current Ratio 3.74
Debt/Eq 25.41
LT Debt/Eq —
EPS (ttm) -1.11
EPS next Y 2.74
EPS Growth —
Revenue Growth 106.90%
EPS Gr Q/Q —
Rev Gr Q/Q —
Earnings (next) 2026-08-06
Earnings (prior) 2026-05-06
ROA -5.87%
ROE -13.96%
ROIC —
Gross Margin 79.98%
Oper. Margin -3.78%
Profit Margin -9.02%
Shs Outstand 43.02M
Shs Float 32.12M
Insider Own 3.07%
Instit Own 109.14%
Short Float 11.57%
Short Ratio 9.38
Short Interest 4.82M
52W High 85.25
vs 52W High -24.00%
52W Low 38.51
vs 52W Low 68.24%
Beta 0.53
Impl. Vol. 70.69%
Rel Volume 0.81
Avg Volume 620.62K
Volume 501.28K
Target (mean) $94.11
Tgt Median $95.00
Tgt Low $88.00
Tgt High $100.00
# Analysts 9
Recom Strong_buy
Prev Close $61.29
Price $64.79
Change 5.71%
About

Tarsus Pharmaceuticals, Inc., a commercial stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for eye care in the United States. The company offers XDEMVY, a lotilaner ophthalmic solution for the treatment of demodex blepharitis caused by the infestation of Demodex mites. It sells its products to specialty pharmacies and distributors, as well as clinics, hospitals, pharmacies, and federal healthcare programs. The company also develops TP-04, a sterile aqueous gel formulation of lotilaner in Phase 2 trial for the treatment of ocular rosacea; and TP-05, an oral tablet formulation of lotilaner in Phase 2 trial for the prevention of Lyme disease, as well as in pre-clinical studies for community malaria reduction. In addition, it is developing the lotilaner active pharmaceutical ingredient (API) to address diseases in human medicine, including eye care and infectious disease prevention. The company has a development and license agreement with Xi An Grand Chang An Pharmaceutical Co., Ltd. for the development and commercialization of TP-03 in China for the treatment of Demodex blepharitis and meibomian gland disease. Tarsus Pharmaceuticals, Inc. was incorporated in 2016 and is headquartered in Irvine, California.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$94.11
Mean price target
2. Current target
$64.79
Latest analyst target
3. DCF / Fair value
$-8.90
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$64.79
Low
$88.00
High
$100.00
Mean
$94.11

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-05-04 reit HC Wainwright & Co. Buy → Buy $88
2026-02-25 main Oppenheimer Outperform → Outperform $105
2026-02-25 main Guggenheim Buy → Buy $90
2025-12-09 init Barclays — → Overweight $100
2025-11-20 init Mizuho — → Outperform $100
2025-11-05 main Guggenheim Buy → Buy $87
2025-10-20 main HC Wainwright & Co. Buy → Buy $88
2025-05-05 main Goldman Sachs Neutral → Neutral $51
2025-05-02 main Guggenheim Buy → Buy $84
2025-03-06 main Jefferies Buy → Buy $58
2025-02-26 main Guggenheim Buy → Buy $78
2025-02-26 reit HC Wainwright & Co. Buy → Buy $73
2025-02-26 main Barclays Overweight → Overweight $60
2025-02-24 reit Guggenheim Buy → Buy —
2025-02-10 reit Guggenheim Buy → Buy —
2025-01-27 main Barclays Overweight → Overweight $62
2025-01-22 main Oppenheimer Outperform → Outperform $72
2024-11-15 main Goldman Sachs Neutral → Neutral $41
2024-11-14 main Oppenheimer Outperform → Outperform $65
2024-08-09 reit Oppenheimer Outperform → Outperform $63
News
RSS: Latest TARS news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-24 PYOTT DAVID E I Director — 1,383 — —
2026-03-20 NEERVANNAN SESHADRI Chief Operating Officer — 2,989 $66.75 $199,516
2026-03-19 AZAMIAN BOBAK R Chief Executive Officer — 34,603 $67.00 $2,364,904
2026-03-19 WHITFIELD DIANNE C Officer — 12,274 $67.00 $839,070
2026-03-19 WAHL BRYAN General Counsel — 12,440 $67.00 $850,417
2026-03-19 LIN ELIZABETH YEU Officer — 1,144 $67.00 $78,204
2026-03-19 FARROW JEFFREY S Chief Financial Officer — 6,430 $67.00 $439,566
2026-03-19 MOTTIWALA AZIZ Officer — 13,056 $67.00 $892,528
2026-03-19 NEERVANNAN SESHADRI Chief Operating Officer — 11,324 $67.00 $772,444
2026-03-16 LINK WILLIAM J Director — 12,500 $68.09 $859,819
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
451.36
+146.71%
182.95
+948.62%
17.45
-32.42%
25.82
Operating Revenue
451.36
+146.71%
182.95
+948.62%
17.45
-32.42%
25.82
Cost Of Revenue
30.68
+139.23%
12.83
+705.15%
1.59
+66.81%
0.95
Reconciled Cost Of Revenue
30.68
+139.23%
12.83
+705.15%
1.59
+66.81%
0.95
Gross Profit
420.68
+147.27%
170.13
+973.09%
15.85
-36.23%
24.86
Operating Expense
491.64
+69.13%
290.70
+82.81%
159.01
+81.58%
87.57
Research And Development
64.32
+20.48%
53.39
+6.11%
50.31
+18.04%
42.62
Selling General And Administration
427.32
+80.07%
237.31
+118.32%
108.70
+141.83%
44.95
General And Administrative Expense
—
—
—
44.95
Other Gand A
—
—
—
44.95
Total Expenses
522.33
+72.09%
303.52
+88.99%
160.60
+81.42%
88.53
Operating Income
-70.97
+41.14%
-120.57
+15.78%
-143.16
-128.28%
-62.71
Total Operating Income As Reported
-70.97
+41.14%
-120.57
+15.78%
-143.16
-128.28%
-62.71
EBITDA
-54.20
+49.29%
-106.88
+18.90%
-131.79
-120.74%
-59.70
Normalized EBITDA
-54.20
+48.35%
-104.94
+20.38%
-131.79
-123.62%
-58.94
Reconciled Depreciation
1.82
+48.24%
1.23
+39.68%
0.88
+169.02%
0.33
EBIT
-56.02
+48.18%
-108.11
+18.51%
-132.67
-121.00%
-60.03
Total Unusual Items
0.00
+100.00%
-1.94
0.00
+100.00%
-0.77
Total Unusual Items Excluding Goodwill
0.00
+100.00%
-1.94
0.00
+100.00%
-0.77
Special Income Charges
0.00
+100.00%
-1.94
0.00
0.00
Other Special Charges
—
1.94
—
—
Net Income
-66.42
+42.52%
-115.55
+14.97%
-135.89
-118.86%
-62.09
Pretax Income
-64.36
+44.30%
-115.55
+14.97%
-135.89
-118.85%
-62.09
Net Non Operating Interest Income Expense
6.81
-4.93%
7.17
+2.49%
6.99
+437.77%
1.30
Interest Expense Non Operating
8.34
+12.02%
7.45
+130.91%
3.23
+56.25%
2.06
Net Interest Income
6.81
-4.93%
7.17
+2.49%
6.99
+437.77%
1.30
Interest Expense
8.34
+12.02%
7.45
+130.91%
3.23
+56.25%
2.06
Interest Income Non Operating
15.75
+4.88%
15.01
+45.25%
10.34
+195.43%
3.50
Interest Income
15.75
+4.88%
15.01
+45.25%
10.34
+195.43%
3.50
Other Income Expense
-0.20
+90.60%
-2.15
-884.67%
0.27
+140.12%
-0.68
Other Non Operating Income Expenses
-0.20
+1.94%
-0.21
-175.18%
0.27
+218.60%
0.09
Gain On Sale Of Security
—
-0.79
-310.64%
0.38
+148.89%
-0.77
Tax Provision
2.06
0.00
0.00
+100.00%
-0.00
Tax Rate For Calcs
0.00
0.00
0.00
-100.00%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
+100.00%
-0.00
Net Income Including Noncontrolling Interests
-66.42
+42.52%
-115.55
+14.97%
-135.89
-118.86%
-62.09
Net Income From Continuing Operation Net Minority Interest
-66.42
+42.52%
-115.55
+14.97%
-135.89
-118.86%
-62.09
Net Income From Continuing And Discontinued Operation
-66.42
+42.52%
-115.55
+14.97%
-135.89
-118.86%
-62.09
Net Income Continuous Operations
-66.42
+42.52%
-115.55
+14.97%
-135.89
-118.86%
-62.09
Normalized Income
-66.42
+41.54%
-113.61
+16.40%
-135.89
-121.61%
-61.32
Net Income Common Stockholders
-66.42
+42.52%
-115.55
+14.97%
-135.89
-118.86%
-62.09
Diluted EPS
-1.59
+48.21%
-3.07
+33.55%
-4.62
-83.33%
-2.52
Basic EPS
-1.59
+48.21%
-3.07
+33.55%
-4.62
-83.33%
-2.52
Basic Average Shares
41.78
+11.11%
37.60
+27.98%
29.38
+19.35%
24.62
Diluted Average Shares
41.78
+11.11%
37.60
+27.98%
29.38
+19.35%
24.62
Diluted NI Availto Com Stockholders
-66.42
+42.52%
-115.55
+14.97%
-135.89
-118.86%
-62.09
Total Other Finance Cost
0.59
+47.51%
0.40
+232.23%
0.12
-10.37%
0.14
Line Item Trend 2021-12-31
Total Assets
—
Current Assets
—
Cash Cash Equivalents And Short Term Investments
—
Cash And Cash Equivalents
—
Cash Equivalents
171.33
Other Short Term Investments
—
Receivables
—
Accounts Receivable
—
Other Receivables
—
Taxes Receivable
0.09
Accrued Interest Receivable
0.00
Inventory
—
Raw Materials
—
Work In Process
—
Finished Goods
—
Prepaid Assets
—
Restricted Cash
0.00
Total Non Current Assets
—
Net PPE
—
Gross PPE
—
Accumulated Depreciation
—
Properties
—
Machinery Furniture Equipment
—
Other Properties
—
Leases
—
Goodwill And Other Intangible Assets
—
Investments And Advances
—
Non Current Prepaid Assets
0.07
Other Non Current Assets
—
Total Liabilities Net Minority Interest
—
Current Liabilities
—
Payables And Accrued Expenses
—
Payables
—
Accounts Payable
—
Other Payable
—
Current Accrued Expenses
—
Pensionand Other Post Retirement Benefit Plans Current
0.06
Total Tax Payable
0.06
Income Tax Payable
0.06
Current Debt And Capital Lease Obligation
1.31
Current Capital Lease Obligation
—
Other Current Liabilities
—
Total Non Current Liabilities Net Minority Interest
—
Long Term Debt And Capital Lease Obligation
—
Long Term Debt
—
Long Term Capital Lease Obligation
0.58
Other Non Current Liabilities
—
Stockholders Equity
—
Common Stock Equity
—
Capital Stock
—
Common Stock
—
Preferred Stock
—
Share Issued
—
Ordinary Shares Number
—
Treasury Shares Number
0.03
Additional Paid In Capital
—
Retained Earnings
—
Gains Losses Not Affecting Retained Earnings
—
Other Equity Adjustments
—
Total Equity Gross Minority Interest
—
Total Capitalization
—
Working Capital
—
Invested Capital
—
Total Debt
—
Capital Lease Obligations
—
Net Tangible Assets
—
Tangible Book Value
—
Derivative Product Liabilities
0.11
Financial Assets
0.66
Interest Payable
0.00
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-12.45
+85.00%
-83.03
+29.33%
-117.49
-139.63%
-49.03
Cash Flow From Continuing Operating Activities
-12.45
+85.00%
-83.03
+29.33%
-117.49
-139.63%
-49.03
Net Income From Continuing Operations
-66.42
+42.52%
-115.55
+14.97%
-135.89
-118.86%
-62.09
Depreciation Amortization Depletion
1.82
+48.24%
1.23
+39.68%
0.88
+169.02%
0.33
Depreciation
0.85
+24.82%
0.69
-7.93%
0.74
+128.22%
0.33
Amortization Cash Flow
0.96
+77.96%
0.54
+306.02%
0.13
0.00
Depreciation And Amortization
1.82
+48.24%
1.23
+39.68%
0.88
+169.02%
0.33
Amortization Of Intangibles
0.96
+77.96%
0.54
+306.02%
0.13
0.00
Other Non Cash Items
1.27
+14.15%
1.12
+20.63%
0.93
+19.79%
0.77
Stock Based Compensation
41.72
+49.97%
27.82
+40.28%
19.83
+47.33%
13.46
Operating Gains Losses
—
2.15
+1933.33%
-0.12
-123.35%
0.50
Gain Loss On Investment Securities
—
0.20
+271.79%
-0.12
-123.35%
0.50
Unrealized Gain Loss On Investment Securities
0.00
-100.00%
0.59
+328.19%
-0.26
-196.64%
0.27
Net Foreign Currency Exchange Gain Loss
—
—
0.00
-100.00%
0.00
Gain Loss On Sale Of PPE
—
—
—
0.00
Change In Working Capital
14.64
+280.80%
3.84
+1156.21%
0.31
+132.18%
-0.95
Change In Receivables
-39.05
-28.69%
-30.34
-114.74%
-14.13
-304.90%
-3.49
Changes In Account Receivables
-38.30
-27.07%
-30.14
-81.33%
-16.62
0.00
Change In Inventory
-1.75
+14.42%
-2.05
+34.15%
-3.11
0.00
Change In Prepaid Assets
1.72
+124.45%
-7.02
-142.96%
-2.89
-300.69%
-0.72
Change In Payables And Accrued Expense
8.86
+73.02%
5.12
-58.23%
12.26
+246.22%
3.54
Change In Accrued Expense
1.96
-24.13%
2.58
-66.63%
7.73
+183.94%
2.72
Change In Payable
6.91
+171.46%
2.54
-43.93%
4.54
+452.62%
0.82
Change In Account Payable
6.91
+171.46%
2.54
-43.93%
4.54
+452.62%
0.82
Change In Other Current Assets
-0.53
-192.13%
0.57
+179.67%
-0.72
-233.95%
-0.21
Change In Other Current Liabilities
45.39
+20.84%
37.56
+322.59%
8.89
+13365.67%
-0.07
Investing Cash Flow
-42.12
+78.86%
-199.19
-241.67%
140.60
+197.22%
-144.63
Cash Flow From Continuing Investing Activities
-42.12
+78.86%
-199.19
-241.67%
140.60
+197.22%
-144.63
Net PPE Purchase And Sale
-9.86
-529.16%
-1.57
-4.33%
-1.50
-196.84%
-0.51
Purchase Of PPE
-9.86
-529.16%
-1.57
-4.33%
-1.50
-196.84%
-0.51
Capital Expenditure
-9.86
-50.13%
-6.57
-19.36%
-5.50
-987.35%
-0.51
Net Investment Purchase And Sale
-32.26
+83.25%
-192.63
-231.84%
146.11
+201.38%
-144.12
Purchase Of Investment
-394.06
-48.35%
-265.63
-826.70%
-28.66
+80.82%
-149.44
Sale Of Investment
361.80
+395.62%
73.00
-58.23%
174.77
+3188.24%
5.32
Net Intangibles Purchase And Sale
0.00
+100.00%
-5.00
-25.00%
-4.00
0.00
Purchase Of Intangibles
0.00
+100.00%
-5.00
-25.00%
-4.00
0.00
Financing Cash Flow
143.39
-7.29%
154.66
+18.81%
130.18
+38.50%
93.99
Cash Flow From Continuing Financing Activities
143.39
-7.29%
154.66
+18.81%
130.18
+38.50%
93.99
Net Issuance Payments Of Debt
0.00
-100.00%
75.00
+650.00%
10.00
-50.00%
20.00
Issuance Of Debt
0.00
-100.00%
75.00
+650.00%
10.00
-50.00%
20.00
Long Term Debt Issuance
0.00
-100.00%
75.00
+650.00%
10.00
-50.00%
20.00
Net Long Term Debt Issuance
0.00
-100.00%
75.00
+650.00%
10.00
-50.00%
20.00
Net Common Stock Issuance
134.77
+37.12%
98.29
-17.13%
118.60
+59.51%
74.35
Proceeds From Stock Option Exercised
8.62
-48.61%
16.77
+963.35%
1.58
+169.57%
0.58
Net Other Financing Charges
—
-35.40
—
-0.95
Changes In Cash
88.82
+169.63%
-127.57
-183.22%
153.29
+253.79%
-99.67
Beginning Cash Position
97.38
-56.71%
224.95
+213.91%
71.66
-58.17%
171.33
End Cash Position
186.20
+91.21%
97.38
-56.71%
224.95
+213.91%
71.66
Free Cash Flow
-22.31
+75.10%
-89.59
+27.16%
-123.00
-148.29%
-49.54
Interest Paid Supplemental Data
8.34
+8.87%
7.66
+166.04%
2.88
+71.94%
1.68
Amortization Of Securities
-5.48
-30.12%
-4.21
-33.20%
-3.16
-140.35%
-1.32
Common Stock Issuance
134.77
+37.12%
98.29
-17.13%
118.60
+59.51%
74.35
Issuance Of Capital Stock
134.77
+37.12%
98.29
-17.13%
118.60
+59.51%
74.35
Net Preferred Stock Issuance
—
—
—
—
Preferred Stock Issuance
—
—
—
—
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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