BiQ Trade Notification (TARS)

I closed my position in Tarsus (TARS) today at just over $55/sh for a roughly 150% gain since entry. While I'm still generally bullish about the company, I've grown more cautious due to the elevated valuation: EV is currently ~10x 2024 Estimated FY Revenue, and ~2x Estimated Peak Revenue. I also want to spend some more time researching their IP as the market exclusivity potentially comes to an end in the next 5 years.

Also, in Q3 the company increased the size of its sales team by 50%, the impact of which I expect could be felt in significantly higher Q4 OpEx. Shares could run up further if the company posts revenue growth above expectations (I'm expecting ~$60M top-line revenue); however, I decided to take my profits, though I may consider re-entering if the share price pulls back far enough--and if I can get comfortable with their IP protection.

Click here to view the TARS iQ Cheat Sheet.

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