Tarsus Pharmaceuticals (NASDAQ:TARS) Trading 5.1% Higher

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s share price shot up 5.1% during trading on Wednesday . The company traded as high as $27.52 and last traded at $27.51. 285,729 shares were traded during trading, a decline of 60% from the average session volume of 710,797 shares. The stock had previously closed at $26.17.

Analysts Set New Price Targets

TARS has been the topic of several research reports. HC Wainwright boosted their price target on shares of Tarsus Pharmaceuticals from $57.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Barclays boosted their price target on shares of Tarsus Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. Oppenheimer reissued an “outperform” rating and issued a $63.00 price target (up previously from $61.00) on shares of Tarsus Pharmaceuticals in a research note on Friday, August 9th. Finally, William Blair upgraded shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $51.17.

Tarsus Pharmaceuticals Price Performance

The stock’s 50 day moving average is $26.61 and its two-hundred day moving average is $31.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 7.03 and a quick ratio of 6.99. The stock has a market capitalization of $1.16 billion, a PE ratio of -6.17 and a beta of 1.06.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.98) by $0.10. Tarsus Pharmaceuticals had a negative return on equity of 63.99% and a negative net margin of 180.00%. The firm had revenue of $40.81 million during the quarter, compared to analysts’ expectations of $31.30 million. During the same quarter in the prior year, the business posted ($1.17) earnings per share. As a group, sell-side analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.68 earnings per share for the current fiscal year.

Institutional Trading of Tarsus Pharmaceuticals

A number of hedge funds have recently made changes to their positions in TARS. Ieq Capital LLC boosted its position in Tarsus Pharmaceuticals by 63.5% in the 4th quarter. Ieq Capital LLC now owns 17,754 shares of the company’s stock valued at $360,000 after buying an additional 6,895 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Tarsus Pharmaceuticals by 11.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 24,227 shares of the company’s stock valued at $491,000 after purchasing an additional 2,500 shares in the last quarter. Trexquant Investment LP purchased a new stake in Tarsus Pharmaceuticals during the 4th quarter worth approximately $800,000. RTW Investments LP raised its position in shares of Tarsus Pharmaceuticals by 9.4% in the 4th quarter. RTW Investments LP now owns 3,152,341 shares of the company’s stock valued at $63,835,000 after purchasing an additional 271,640 shares in the last quarter. Finally, TFG Asset Management GP Ltd boosted its stake in shares of Tarsus Pharmaceuticals by 30.1% during the 4th quarter. TFG Asset Management GP Ltd now owns 800,000 shares of the company’s stock valued at $16,200,000 after buying an additional 185,000 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for eye care in the United States. The company's lead product candidate is XDEMVY, a novel therapeutic for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.