Strength Seen in Tarsus Pharmaceuticals, Inc. (TARS): Can Its 5.0% Jump Turn into More Strength?


Tarsus Pharmaceuticals, Inc. TARS shares rallied 5% in the last trading session to close at $15.68. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock’s 2.9% gain over the past four weeks.

The swift upward movement of the stock is due to positive momentum surrounding its investigational oral therapeutic candidate, TP-05, being developed to prevent Lyme disease. The Company previously reported topline data from its completed phase Ib study, Callisto. In the study,  TP-05 was well tolerated with no dose-related or drug-related serious adverse events. The company also announced the initiation and enrollment of its first patient in its phase IIa, Carpo study for the prevention of Lyme disease.

This company is expected to post quarterly loss of $0.79 per share in its upcoming report, which represents a year-over-year change of -9.7%. Revenues are expected to be $11.25 million, up 3208.8% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Tarsus Pharmaceuticals, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock’s price usually doesn’t keep moving higher in the absence of any trend in earnings estimate revisions. 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 a member of the Zacks Medical – Biomedical and Genetics industry. One other stock in the same industry, Repare Therapeutics Inc. RPTX, finished the last trading session 4.6% higher at $12.36. RPTX has returned -18.7% over the past month.

Repare Therapeutics Inc.’s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.73. Compared to the company’s year-ago EPS, this represents a change of -4.3%. Repare Therapeutics Inc. currently boasts a Zacks Rank of #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



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