Bank of New York Mellon Corp Increases Holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Bank of New York Mellon Corp increased its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 27.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,634 shares of the company’s stock after acquiring an additional 26,225 shares during the period. Bank of New York Mellon Corp owned approximately 0.32% of Tarsus Pharmaceuticals worth $3,333,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. RTW Investments LP lifted its stake 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 during the last quarter. Vanguard Group Inc. boosted its stake in Tarsus Pharmaceuticals by 14.5% during the first quarter. Vanguard Group Inc. now owns 1,826,632 shares of the company’s stock worth $66,398,000 after buying an additional 231,131 shares during the period. Jennison Associates LLC bought a new position in Tarsus Pharmaceuticals during the first quarter valued at $48,380,000. Assenagon Asset Management S.A. purchased a new stake in shares of Tarsus Pharmaceuticals in the second quarter valued at $28,904,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Tarsus Pharmaceuticals by 1,113.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 898,000 shares of the company’s stock worth $32,642,000 after acquiring an additional 824,000 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TARS has been the subject of several analyst reports. William Blair raised shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Oppenheimer reissued an “outperform” rating and set a $63.00 price target (up from $61.00) on shares of Tarsus Pharmaceuticals in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $51.60.

Tarsus Pharmaceuticals Stock Performance

Shares of NASDAQ:TARS opened at $33.26 on Friday. The firm has a market cap of $1.27 billion, a PE ratio of -6.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 6.99 and a current ratio of 7.03. Tarsus Pharmaceuticals, Inc. has a one year low of $12.57 and a one year high of $42.50. The firm’s 50 day simple moving average is $27.03 and its 200-day simple moving average is $31.16.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its earnings results on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.10. Tarsus Pharmaceuticals had a negative net margin of 180.00% and a negative return on equity of 63.99%. The business had revenue of $40.81 million for the quarter, compared to the consensus estimate of $31.30 million. During the same quarter last year, the firm posted ($1.17) EPS. As a group, equities analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.68 EPS for the current year.

Tarsus Pharmaceuticals 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.