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Tarsus Pharmaceuticals, Inc. (TARS) Soars 8.6%: Is Further Upside Left in the Stock?

Zacks Equity Research
Updated ·2-min read

Tarsus Pharmaceuticals, Inc. TARS shares ended the last trading session 8.6% higher at $12.56. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9.3% loss over the past four weeks.

The surge in the stock price is likely due to positive momentum building around the company's lead pipeline candidate TP-03. A new drug application (NDA) is currently under FDA review seeking approval  for TP-03 to treat demodex blepharitis. A final decision on the NDA is expected by the end of this August.

This company is expected to post quarterly loss of $0.95 per share in its upcoming report, which represents a year-over-year change of +3.1%. Revenues are expected to be $3.33 million, up 517.2% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

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For Tarsus Pharmaceuticals, Inc., the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on TARS going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Tarsus Pharmaceuticals, Inc. is part of the Zacks Medical - Biomedical and Genetics industry. Illumina ILMN, another stock in the same industry, closed the last trading session 0.9% higher at $229.97. ILMN has returned 1.5% in the past month.

For Illumina , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.02. This represents a change of -98.1% from what the company reported a year ago. Illumina currently has a Zacks Rank of #5 (Strong Sell).

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