5 stories mentioning TARSUpdated 12d ago
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Tarsus Pharmaceuticals (TARS) has an average rating of buy and mean price target of $94.22, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $65.71, Change: $+0.38, Percent Change: +0.58%
Tarsus Pharmaceuticals (TARS) named Neera Clase as interim chief commercial officer, effective immediately.Clase most recently served as senior vice president of market access. She succeeds Aziz Mottiwala, who left to pursue an opportunity as CEO of a publicly traded medical device company, Tarsus said Monday in a statement.Tarsus has begun a search for a permanent chief commercial officer.Tarsus shares fell 2.9% in after-hours trading.
Healthcare stocks were higher late Wednesday afternoon, with the NYSE Healthcare Index up 0.1% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.3%.The iShares Biotechnology ETF (IBB) eased 0.2%.In corporate news, short seller Culper Research said Wednesday it has taken a short position in Tarsus Pharmaceuticals (TARS), alleging the commercialization of Xdemvy relies on a Medicare copay assistance structure that "raises serious Anti-Kickback Statute concerns." Tarsus shares were down 3.6%.Can-Fite BioPharma (CANF) shares surged 56% after it said its phase 2a trial of Namodenoson in advanced pancreatic cancer met its primary safety endpoint and showed durable survival in a subset of heavily pretreated patients.Hims & Hers Health (HIMS) shares jumped past 8% after BofA Securities raised its price target to $36 from $25, while keeping its neutral rating.BridgeBio Pharma (BBIO) has raised up to $1 billion in convertible preferred equity led by Sixth Street, with participation from HealthCare Royalty, a KKR (KKR) business, to fund upcoming product launches and pipeline development. BridgeBio shares were up 0.3%.
Healthcare stocks rose late Wednesday afternoon, with the NYSE Healthcare Index increasing 0.1% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.3%.The iShares Biotechnology ETF (IBB) shed 0.2%.In corporate news, short seller Culper Research said Wednesday it has taken a short position in Tarsus Pharmaceuticals (TARS), alleging the commercialization of Xdemvy relies on a Medicare copay assistance structure that "raises serious Anti-Kickback Statute concerns." Tarsus shares were down 3.6%.
Short seller Culper Research said Wednesday it has taken a short position in Tarsus Pharmaceuticals (TARS), alleging the commercialization of Xdemvy relies on a Medicare copay assistance structure that "raises serious Anti-Kickback Statute concerns."Culper alleged Tarsus funds a charitable foundation that subsidizes Medicare copays for Xdemvy patients and said the arrangement bears "many of the attributes of the arrangements that have been prosecuted" by the US Department of Justice.The short seller also argued Tarsus' addressable market is "a fraction (~20%) of the Company's claims" and projected Xdemvy revenue would "peak below $800 million at best," compared with the company's long-term target of more than $2 billion.Culper further argued that analysts underestimate Tarsus' patient assistance costs and said the company's profitability "will never materialize" because those expenses are higher than Wall Street expects.Tarsus did not immediately respond to' request for comment.Shares of Tarsus were down more than 6% in Wednesday afternoon trading.Price: $59.06, Change: $-3.88, Percent Change: -6.16%
