Hsbc Holdings PLC Purchases New Stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Hsbc Holdings PLC acquired a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,067 shares of the company’s stock, valued at approximately $241,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TARS. Federated Hermes Inc. lifted its holdings in Tarsus Pharmaceuticals by 71.2% during the 2nd quarter. Federated Hermes Inc. now owns 26,483 shares of the company’s stock worth $720,000 after purchasing an additional 11,018 shares during the last quarter. Cowen AND Company LLC increased its position in Tarsus Pharmaceuticals by 3.5% during the 2nd quarter. Cowen AND Company LLC now owns 2,197,385 shares of the company’s stock worth $59,725,000 after buying an additional 74,855 shares during the period. Quest Partners LLC acquired a new stake in shares of Tarsus Pharmaceuticals during the second quarter worth $61,000. Rhumbline Advisers boosted its position in shares of Tarsus Pharmaceuticals by 13.9% in the second quarter. Rhumbline Advisers now owns 49,660 shares of the company’s stock valued at $1,350,000 after acquiring an additional 6,070 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Tarsus Pharmaceuticals by 33.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company’s stock valued at $166,000 after acquiring an additional 1,530 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TARS shares. William Blair raised shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Oppenheimer reiterated an “outperform” rating and issued a $63.00 price target (up from $61.00) on shares of Tarsus Pharmaceuticals in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tarsus Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $51.60.

Tarsus Pharmaceuticals Price Performance

TARS stock opened at $33.89 on Friday. The company’s 50-day moving average price is $28.34 and its two-hundred day moving average price is $31.05. Tarsus Pharmaceuticals, Inc. has a 12 month low of $12.57 and a 12 month high of $42.50. The company has a quick ratio of 6.99, a current ratio of 7.03 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1.28 billion, a P/E ratio of -7.10 and a beta of 1.07.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share 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 period in the prior year, the company earned ($1.17) earnings per share. On average, analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.68 earnings per share 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.