Saturday 17 October 2026
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Tarsus Pharmaceuticals, Inc.
TARS Healthcare Biotechnology
Tarsus Pharmaceuticals, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $451.4 million, up 146.7% from fiscal 2024. In the quarter to June 2026, revenue grew 69.4%, EPS grew 10.4%, free cash flow grew 288.1% and total debt was flat, each against the same quarter a year earlier.
68.07
2.92
−4.11%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | — | — | — | — | 15.33 | 21.00 | 10.80 | 11.33 | 18.99 | 38.51 |
Analyst estimates 2026–2028 Powerpack |
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| High | — | — | — | — | 63.69 | 49.37 | 24.89 | 25.25 | 57.14 | 85.25 | |||||
| People | |||||||||||||||
| People | Employees | — | — | — | 12 | 20 | 46 | 87 | 244 | 323 | 370 | ||||
| Revenue/emp, $m | — | — | — | 0.00 | 0.00 | 1.24 | 0.30 | 0.07 | 0.57 | 1.22 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | 57 | 26 | 17 | 183 | 451 | ||||
| Gross margin, % | — | — | 0.00 | 0.00 | 0.00 | 96.36 | 96.30 | 90.87 | 92.99 | 93.20 | |||||
| EBT | — | — | (1) | (5) | (27) | (14) | (62) | (136) | (116) | (64) | |||||
| EBT margin, % | — | — | 0.00 | 0.00 | 0.00 | (24.15) | (240.53) | (778.89) | (63.16) | (14.26) | |||||
| Net income | — | 0 | (1) | (5) | (27) | (14) | (62) | (136) | (116) | (66) | |||||
| Depreciation | — | — | 0 | 0 | 0 | 1 | (1) | (2) | (3) | (3) | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | — | — | 0.00 | 0.00 | 0.00 | 2.77 | 1.05 | 0.59 | 4.87 | 10.80 | ||||
| Earnings | — | — | (0.07) | (1.98) | (4.32) | (0.67) | (2.52) | (4.62) | (3.07) | (1.59) | |||||
| Cash flow | — | — | (0.06) | (1.55) | (3.41) | 0.18 | (1.99) | (4.00) | (2.21) | (0.30) | |||||
| Capex | — | — | 0.00 | (0.07) | (0.07) | (0.03) | (0.02) | (0.19) | (0.17) | (0.24) | |||||
| Free cash flow | — | — | (0.06) | (1.63) | (3.48) | 0.15 | (2.01) | (4.19) | (2.38) | (0.53) | |||||
| Book value | — | — | 0.11 | 24.29 | 26.74 | 8.11 | 7.84 | 6.70 | 5.97 | 8.22 | |||||
| Shares, m | — | — | 20 | 2 | 6 | 21 | 25 | 29 | 38 | 42 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| P/S | — | — | — | — | — | 8.11 | 13.57 | 21.58 | 11.38 | 7.58 | |||||
| P/B | — | — | — | — | — | 2.77 | 1.84 | 3.01 | 9.27 | 9.96 | |||||
| EV/Sales | — | — | — | — | — | 5.11 | 6.02 | 14.38 | 10.18 | 6.81 | |||||
| EV/FCF | — | — | — | — | — | 92.10 | (3.18) | (3.32) | (19.90) | (98.24) | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | — | — | (1) | (4) | (21) | 4 | (49) | (117) | (83) | (12) | ||||
| Capex | — | — | 0 | 0 | 0 | (1) | (1) | (6) | (7) | (10) | |||||
| Free cash flow | — | — | (1) | (4) | (22) | 3 | (50) | (123) | (90) | (22) | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | — | — | 2 | 57 | 165 | 164 | 210 | 219 | 276 | 387 | ||||
| Total debt | — | — | — | 0 | 1 | 1 | 19 | 30 | 72 | 72 | |||||
| Net debt | — | — | (2) | (58) | (168) | (171) | (198) | (198) | (220) | (345) | |||||
| Shareholders’ equity | — | — | 2 | 57 | 166 | 167 | 193 | 197 | 225 | 343 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | — | — | (110.42) | (15.39) | (23.28) | (7.88) | (30.53) | (55.09) | (35.97) | (14.14) | ||||
| ROIC | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | (1,506.21) | 0.00 | |||||
| ROE | — | — | 35.85 | 126.92 | (33.52) | (8.31) | (34.53) | (69.71) | (54.83) | (23.39) | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
Tarsus Pharmaceuticals, Inc. vs peers in Biotechnology (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| TNGX Tango Therapeutics, Inc. | $3.8B | — (loss-making) | — (loss-making) | −100.00% (below 0%: shrinking) | n/m | −4.58% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| RLAY Relay Therapeutics, Inc. | $3.8B | — (loss-making) | — (loss-making) | −95.44% (below 0%: shrinking) | n/m | +2.13% (above 0%: growing) | 100.00% | (25,949.71%) | Compare |
| ARQT Arcutis Biotherapeutics, Inc. | $3.7B | 131× | 196× | +59.33% (above 0%: growing) | n/m | +227.96% (above 0%: growing) | 91.58% | 12.65% | Compare |
| TLX Telix Pharmaceuticals Limited | $3.6B | — | — | — | — | −44.78% (below 0%: shrinking) | — | — | Compare |
| TARS Tarsus Pharmaceuticals, Inc. | $3.5B | — (loss-making) | — (loss-making) | +69.41% (above 0%: growing) | n/m | +288.08% (above 0%: growing) | 93.03% | (11.45%) | |
| VKTX Viking Therapeutics, Inc. | $3.5B | — (loss-making) | — | — | n/m | −165.98% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| ACAD ACADIA Pharmaceuticals Inc. | $3.4B | 8.5× | 55.6× | +16.40% (above 0%: growing) | +12.50% (above 0%: growing) | +50.32% (above 0%: growing) | 90.81% | 12.29% | Compare |
| XENE Xenon Pharmaceuticals Inc. | $3.3B | — (loss-making) | — (loss-making) | +100.70% (above 0%: growing) | n/m | −48.57% (below 0%: shrinking) | 100.00% | 0.00% | Compare |
| IDYA IDEAYA Biosciences, Inc. | $3.3B | — (loss-making) | — (loss-making) | +125.77% (above 0%: growing) | n/m | −41.09% (below 0%: shrinking) | 100.00% | (1,380.73%) | Compare |
| Median of peers | $3.5B | — | — | +37.87% | — | −22.83% | 91.58% | 0.00% |
Tarsus Pharmaceuticals, Inc. (TARS) key facts
- Concern: Tarsus Pharmaceuticals, Inc. reported a net loss of $66.4 million, or a loss of $1.59 per share, for fiscal 2025.
- Strength: Tarsus Pharmaceuticals, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $451.4 million, up 146.7% from fiscal 2024.
- Tarsus Pharmaceuticals, Inc. (TARS) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
- As of October 16, 2026, TARS traded at $68.07, a market capitalization of $3.5 billion.
- Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 4.9× sales.
- Return on equity was −23.4% and debt-to-equity 0.21.
- Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 9.54 (safe zone) for fiscal 2025.
Tarsus Pharmaceuticals, Inc. (TARS) Latest News
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