Sep. 8 at 6:03 PM
Jefferies⬆️
$TARS' PT to
$105 from
$88 and reiterated Buy.
$ABBV NVS - ALC
$BLTE
ALC NBY
Jefferies said in its note -- TARS stock has rallied post Q2 EPS on a combo of
(1) increased Xdemvy 2026 guidance and recent scripts suggest a strong Q3;
(2) Alkeus tuck-in for a Phase III-ready rare-disease asset injects new biotech pipeline into the narrative (we est
$1B peak); and
(3) iRenix deal for another Phase III asset.
Valuation at
$4B cap remains inexpensive over the long term, given multiple pipeline data-card flips over the next 1-3 years + strong Xdemvy base biz. PT to
$105.
