Tarsus Pharmaceuticals, Inc. (TARS) stock plummeted 11.19% in the intraday trading session on Tuesday, following the company's fourth-quarter earnings report and a price target downgrade by analysts.
The biopharmaceutical company reported a narrowed net loss of $23.1 million for the fourth quarter, beating analysts' expectations of a $29.9 million loss. However, operating expenses soared to $90.8 million, likely weighing on investor sentiment.
Additionally, Bank of America lowered its price target on Tarsus Pharmaceuticals' stock from $75 to $70, while maintaining a "Buy" rating. Analysts cited the company's Q4 performance as solid but revised their valuation estimates, potentially contributing to the stock's decline.
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