Lifesci Capital Has Pessimistic Outlook of TARS Q4 Earnings

Key Points

• Lifesci Capital cut its Q4 2026 EPS estimate for Tarsus from $0.09 to $0.05 but kept a Strong-Buy rating on the stock.
• Tarsus beat Q1 expectations with EPS of ($0.16) vs. consensus (~($0.40)) and revenue of $162.05M vs. ~$149.6M, driven by >85% YoY growth in XDEMVY sales and management reaffirming $670–700M full-year XDEMVY guidance.
• The company remains unprofitable (net margin ~‑14.7%, ROE ~‑19.6%) with consensus FY2026 EPS of (~$0.74); analyst views are mixed but the consensus rating is a Moderate Buy with an average target of $90.67.

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) - Equities research analysts at Lifesci Capital cut their Q4 2026 EPS estimates for Tarsus Pharmaceuticals in a research report issued to clients and investors on Wednesday, May 6th. Lifesci Capital analyst F. Brisebois now forecasts that the company will post earnings of $0.05 per share for the quarter, down from their prior estimate of $0.09. Lifesci Capital currently has a "Strong-Buy" rating on the stock. The consensus estimate for Tarsus Pharmaceuticals' current full-year earnings is ($0.74) per share.

TARS has been the topic of several other reports. Zacks Research cut shares of Tarsus Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 25th. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a report on Tuesday, April 21st. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $68.00 target price on shares of Tarsus Pharmaceuticals in a report on Thursday, February 5th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $88.00 target price on shares of Tarsus Pharmaceuticals in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $90.67.

Tarsus Pharmaceuticals Stock Down 0.4%

Shares of TARS opened at $64.76 on Thursday. Tarsus Pharmaceuticals has a 12 month low of $38.51 and a 12 month high of $85.25. The firm's 50 day moving average is $68.94 and its 200-day moving average is $71.93. The stock has a market capitalization of $2.79 billion, a PE ratio of -39.98 and a beta of 0.52. The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.21.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative net margin of 14.72% and a negative return on equity of 19.63%. The company had revenue of $162.05 million for the quarter, compared to analysts' expectations of $149.60 million.

Insider Buying and Selling at Tarsus Pharmaceuticals

In related news, insider Elizabeth Yeu Lin sold 390 shares of the company's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $67.00, for a total transaction of $26,130.00. Following the completion of the sale, the insider owned 23,308 shares of the company's stock, valued at $1,561,636. This represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dianne C. Whitfield sold 4,174 shares of the company's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $67.00, for a total transaction of $279,658.00. Following the sale, the insider directly owned 35,028 shares of the company's stock, valued at $2,346,876. This represents a 10.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 79,391 shares of company stock valued at $5,432,035 over the last three months. 8.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Comerica Bank lifted its position in Tarsus Pharmaceuticals by 470.0% during the fourth quarter. Comerica Bank now owns 855 shares of the company's stock worth $70,000 after purchasing an additional 705 shares during the period. Truvestments Capital LLC lifted its holdings in shares of Tarsus Pharmaceuticals by 106.1% in the fourth quarter. Truvestments Capital LLC now owns 909 shares of the company's stock worth $74,000 after acquiring an additional 468 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Tarsus Pharmaceuticals by 15.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company's stock worth $105,000 after acquiring an additional 172 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Tarsus Pharmaceuticals by 779.1% in the second quarter. Osaic Holdings Inc. now owns 2,778 shares of the company's stock worth $113,000 after acquiring an additional 2,462 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in shares of Tarsus Pharmaceuticals in the fourth quarter worth about $164,000. Institutional investors own 90.01% of the company's stock.

Key Tarsus Pharmaceuticals News

Here are the key news stories impacting Tarsus Pharmaceuticals this week:

• Positive Sentiment: Q1 beat on EPS and revenue — Tarsus reported EPS of ($0.16) vs. consensus (~($0.40)) and revenue of $162.05M vs. ~$149.6M, signaling better-than-expected top- and bottom-line traction. MarketBeat Q1 summary & call
• Positive Sentiment: Strong XDEMVY product momentum — Q1 XDEMVY net product sales topped $145M, up >85% year-over-year; nearly half of core eye-care prescribers now prescribe weekly. Management reaffirmed full-year XDEMVY guidance of $670–700M and reiterated peak sales potential >$2B. GlobeNewswire press release
• Positive Sentiment: R&D pipeline expansion — Tarsus launched Calliope, a Phase 2 trial of oral TP‑05 for potential Lyme disease prevention, with topline data expected H1 2027, adding a longer‑term optionality beyond ophthalmology. GlobeNewswire press release
• Neutral Sentiment: Analyst updates mixed but still bullish — HC Wainwright trimmed some near‑term EPS assumptions ahead of the print but maintains a Buy rating and an $88 price target; the firm also bumped several quarterly estimates later in 2026. MarketBeat analyst notes
• Negative Sentiment: Company remains unprofitable and margin/return metrics are negative — Tarsus reported a negative net margin (~‑14.7%) and negative ROE (~‑19.6%); consensus still expects a full‑year loss (FY2026 ~‑$0.74 EPS), keeping valuation tied to product rollout execution. Zacks Q1 coverage

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company's research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus's lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.

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