Tarsus Pharmaceuticals (TARS) PT Raised to $45 as Jefferies Sees Possibility of First Line Therapy

Jefferies analyst Anthony Petrone raised the price target on Tarsus Pharmaceuticals (NASDAQ: TARS) to $45.00 (from $35.00) after the Phase 2b/3 Saturn-1 trial met all primary and secondary endpoints with statistical significance following the 6-week TP-03 treatment cycle for demodex blepharitis (DB). The positive Saturn-1 data will trigger an undisclosed portion of the follow-on milestone payment from LianBio and, importantly, de-risks the ongoing Saturn-2 study, which began enrolling earlier this year.

The analyst reiterated a Buy rating, stating "Given the efficacy benefits in mite eradication and collarette cure rate are coupled with patient ease-of-use benefits with a 2x daily drop solution, we believe TP-03 has potential to emerge as a first-line therapy."

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