Tarsus Pharmaceuticals stock jumps as investors revisit XDEMVY growth outlook

Tarsus Pharmaceuticals (TARS) is up 11.5% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver appears to be renewed buying around Tarsus’ commercial momentum in XDEMVY, its lead eye-care product, alongside a still-bullish analyst backdrop. There does not appear to be a major fresh company announcement today, so the move could be because investors are leaning back into the growth story after recent volatility, with short-covering potentially adding fuel.

Details:

Tarsus reported first-quarter 2026 net product sales of XDEMVY of $145.4 million, up more than 85% from a year earlier, showing continued demand growth.

The company reaffirmed 2026 XDEMVY net sales guidance of $670 million to $700 million and has continued pointing to peak sales potential above $2 billion.

Tarsus also benefited earlier this year from China approval of TP-03 through its regional partner, which triggered a $15 million milestone payment.

Short interest remained elevated at roughly 12.8% of float in mid-June, with 8.9 days to cover, which means a sharp rally can be amplified if bearish traders rush to exit positions.

Sources:

Tarsus Pharmaceuticals, SEC, MarketBeat, Stock Analysis

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$TARS Insider Trading Activity

$TARS insiders have traded $TARS stock on the open market 36 times in the past 6 months. Of those trades, 0 have been purchases and 36 have been sales.

Here’s a breakdown of recent trading of $TARS stock by insiders over the last 6 months:

BOBAK R. AZAMIAN (President/CEO and Board Chair) has made 0 purchases and 5 sales selling 44,603 shares for an estimated $2,980,392.
DIANNE C. WHITFIELD (Chief Human Resources Officer) has made 0 purchases and 7 sales selling 27,839 shares for an estimated $2,094,753.
WILLIAM J PHD LINK has made 0 purchases and 5 sales selling 25,000 shares for an estimated $1,636,313.
SESHADRI NEERVANNAN (Chief Operating Officer) has made 0 purchases and 5 sales selling 22,679 shares for an estimated $1,613,380.
JEFFREY S FARROW (See Remarks) has made 0 purchases and 4 sales selling 20,826 shares for an estimated $1,317,002.
AZIZ MOTTIWALA (Chief Commercial Officer) has made 0 purchases and 3 sales selling 13,056 shares for an estimated $892,528.
BRYAN WAHL (General Counsel) has made 0 purchases and 3 sales selling 12,440 shares for an estimated $850,417.
KATHERINE GOODRICH sold 2,954 shares for an estimated $183,384
ELIZABETH YEU LIN (Chief Medical Officer) has made 0 purchases and 3 sales selling 1,144 shares for an estimated $78,203.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$TARS Hedge Fund Activity

We have seen 113 institutional investors add shares of $TARS stock to their portfolio, and 104 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

DEEP TRACK CAPITAL, LP added 595,966 shares (+19.8%) to their portfolio in Q1 2026, for an estimated $41,807,014
JENNISON ASSOCIATES LLC removed 517,945 shares (-23.2%) from their portfolio in Q1 2026, for an estimated $36,333,841
MILLENNIUM MANAGEMENT LLC added 447,575 shares (+382.5%) to their portfolio in Q1 2026, for an estimated $31,397,386
BANK OF AMERICA CORP /DE/ added 436,271 shares (+57.5%) to their portfolio in Q1 2026, for an estimated $30,604,410
TRI LOCUM PARTNERS LP added 252,588 shares (+inf%) to their portfolio in Q1 2026, for an estimated $17,719,048
DRIEHAUS CAPITAL MANAGEMENT LLC removed 246,302 shares (-21.0%) from their portfolio in Q1 2026, for an estimated $17,278,085
PRICE T ROWE ASSOCIATES INC /MD/ removed 243,976 shares (-47.0%) from their portfolio in Q1 2026, for an estimated $17,114,916

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$TARS Price Targets

Multiple analysts have issued price targets for $TARS recently. We have seen 3 analysts offer price targets for $TARS in the last 6 months, with a median target of $90.0.

Here are some recent targets:

Matthew Caufield from HC Wainwright & Co. set a target price of $88.0 on 05/04/2026
Eddie Hickman from Guggenheim set a target price of $90.0 on 02/25/2026
Francois Brisebois from Oppenheimer set a target price of $105.0 on 02/25/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.