# Tarsus Pharmaceuticals, Inc. (TARS)

> Source: Nexqual · https://nexqual.com/TARS · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, Tarsus Pharmaceuticals, Inc. (TARS), nexqual.com/TARS" · informational, not investment advice.

**Price:** USD 74.2 (+2.98% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 72.05 · day 72.78–74.75 · 52w 53.89–91.53 · market cap $3.47B · NMS

## Key facts
- Analysts: Buy (mean 1.90 on a 1–5 scale) (10 analysts), mean target USD 99.56 (range 84–116).
- Total return with dividends: 1Y +4.5% vs S&P 500 +14.8%; 5Y +167.3% vs S&P 500 +79.1%.
- Next earnings: 2026-11-03, EPS estimate USD -1.77, revenue estimate $191M. All companies reporting that day: https://nexqual.com/earnings/2026-11-03
- Dividend: TARS paid no cash dividend in the last five years.
- Short interest: 12.63% of float (as of 2026-10-15), 6.6 days to cover.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 5.6x · EV/Sales 4.9x · P/FCF 60.2x · P/B 9.7x · FCF yield 1.66% · Earnings yield -1.38% · Net cash $377M · EV $2.99B

## Analysts
Consensus Buy (mean 1.90 on a 1–5 scale), 10 analysts; mean target USD 99.56 (low 84, high 116).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-08 | Jefferies | Target raised | Buy | $88 → $105 |
| 2026-08-12 | Oppenheimer | Target raised | Outperform | $97 → $100 |
| 2026-07-31 | Mizuho | Target lowered | Outperform | $100 → $98 |
| 2026-07-21 | Guggenheim | Target lowered | Buy | $90 → $89 |
| 2026-07-09 | HC Wainwright & Co. | Reiterated | Buy | $88 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +4.5% | +167.3% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | +4.5% | +21.7% |
| Volatility (annualized) | 44.9% | 61.1% |
| Max drawdown | -32.0% (Dec 2025→Jul 2026) | -60.2% (Nov 2021→May 2022) |

## Dividends
TARS paid no cash dividend in the last five years.

## Short interest
5,731,409 shares sold short, 12.63% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 6,127,884 shares (-6.5%). Days to cover: 6.6 (short shares ÷ average daily volume).

## Peers (Biotechnology)
LGND (Ligand Pharmaceuticals Incorpor) USD 317.33 -0.45% · ORKA (Oruka Therapeutics, Inc.) USD 96.65 +0.71% · RYTM (Rhythm Pharmaceuticals, Inc.) USD 93.07 +1.20% · IONS (Ionis Pharmaceuticals, Inc.) USD 44.39 -1.14% · AXSM (Axsome Therapeutics, Inc.) USD 143.45 -0.04% · ABVX (Abivax SA) USD 89.06 -0.87%

## More
Full page: https://nexqual.com/TARS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name TARS in their own reports (relationship from TARS's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Elanco Animal Health Inc (ELAN) | 10-K 2026-02-24 | "Pursuant to the PSA, we received a cash payment of $295 million from Blackstone for the rights to the proceeds from (a) the future royalties we are owed from net sales in the U.S. of XDEMVY® (lotilane…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-1.77 | $-1.83 | +$0.06 | $190.8M | 3 |
| Next quarter (ends 2026-12-31) | $-4.82 | $-0.07 | −$4.75 | $210.9M | 2 |
| Current fiscal year (ends 2026-12-31) | $-5.79 | $-2.25 | −$3.54 | $736.9M | 3 |
| Next fiscal year (ends 2027-12-31) | $-0.50 | $1.66 | −$2.16 | $920.0M | 3 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | −$0.43 | −$0.20 | Miss −115.0% | — |
| — | Quarter ended Mar 31, 2026 | −$0.16 | −$0.42 | Beat +61.9% | — |
| — | Quarter ended Dec 31, 2025 | −$0.20 | $0.01 | Miss −$0.21 | — |
| — | Quarter ended Sep 30, 2025 | −$0.30 | −$0.33 | Beat +9.1% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).