Analysts Set Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) PT at $50.38

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $50.38.

A number of research firms recently commented on TARS. HC Wainwright increased their price objective on Tarsus Pharmaceuticals from $57.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Oppenheimer increased their price objective on Tarsus Pharmaceuticals from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Finally, Barclays increased their price objective on Tarsus Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, May 10th.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TARS. Jennison Associates LLC acquired a new position in Tarsus Pharmaceuticals during the first quarter valued at approximately $48,380,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Tarsus Pharmaceuticals by 1,113.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 898,000 shares of the company’s stock valued at $32,642,000 after purchasing an additional 824,000 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Tarsus Pharmaceuticals during the first quarter valued at approximately $12,640,000. RTW Investments LP grew its holdings in Tarsus Pharmaceuticals by 13.1% during the third quarter. RTW Investments LP now owns 2,880,701 shares of the company’s stock valued at $51,190,000 after purchasing an additional 332,576 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Tarsus Pharmaceuticals by 25.6% in the third quarter. Vanguard Group Inc. now owns 1,551,802 shares of the company’s stock valued at $27,576,000 after acquiring an additional 316,128 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Price Performance

Shares of TARS opened at $28.93 on Tuesday. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -6.06 and a beta of 1.05. Tarsus Pharmaceuticals has a fifty-two week low of $12.57 and a fifty-two week high of $42.50. The company has a debt-to-equity ratio of 0.11, a current ratio of 8.01 and a quick ratio of 7.92. The business’s 50-day moving average is $32.70 and its 200-day moving average is $30.53.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its earnings results on Wednesday, May 8th. The company reported ($1.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.14. The business had revenue of $27.61 million during the quarter, compared to analyst estimates of $17.94 million. Equities research analysts expect that Tarsus Pharmaceuticals will post -3.75 EPS for the current fiscal year.

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.