Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Down – What’s Next?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) gapped down before the market opened on Friday . The stock had previously closed at $51.08, but opened at $49.20. Tarsus Pharmaceuticals shares last traded at $51.00, with a volume of 44,744 shares trading hands.

Analyst Upgrades and Downgrades

TARS has been the topic of several research reports. William Blair upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. The Goldman Sachs Group lifted their price target on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Finally, Oppenheimer boosted their price target on Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $54.20.

Tarsus Pharmaceuticals Stock Down 0.7 %

The company has a fifty day simple moving average of $44.35 and a 200-day simple moving average of $34.25. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.94 billion, a P/E ratio of -13.34 and a beta of 1.04.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. Cowen AND Company LLC boosted its stake in shares of Tarsus Pharmaceuticals by 3.5% in the second quarter. Cowen AND Company LLC now owns 2,197,385 shares of the company’s stock worth $59,725,000 after acquiring an additional 74,855 shares during the period. Jennison Associates LLC raised its position in Tarsus Pharmaceuticals by 47.2% during the third quarter. Jennison Associates LLC now owns 2,178,580 shares of the company’s stock valued at $71,653,000 after purchasing an additional 698,712 shares during the period. Assenagon Asset Management S.A. raised its position in Tarsus Pharmaceuticals by 7.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,141,247 shares of the company’s stock valued at $37,536,000 after purchasing an additional 77,825 shares during the period. Ikarian Capital LLC raised its position in Tarsus Pharmaceuticals by 28.7% during the third quarter. Ikarian Capital LLC now owns 1,030,277 shares of the company’s stock valued at $33,886,000 after purchasing an additional 230,000 shares during the period. Finally, Geode Capital Management LLC raised its position in Tarsus Pharmaceuticals by 8.1% during the third quarter. Geode Capital Management LLC now owns 835,790 shares of the company’s stock valued at $27,494,000 after purchasing an additional 62,555 shares during the period. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Company Profile

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.