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

Shares of 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 traded.

Analyst Ratings Changes

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

Tarsus Pharmaceuticals Price Performance

The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -13.78 and a beta of 1.04. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. The company has a 50-day simple moving average of $44.72 and a two-hundred day simple moving average of $34.38.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Quest Partners LLC bought a new stake in shares of Tarsus Pharmaceuticals in the 2nd quarter valued at about $61,000. Canada Pension Plan Investment Board bought a new stake in Tarsus Pharmaceuticals in the second quarter valued at approximately $114,000. FMR LLC raised its stake in Tarsus Pharmaceuticals by 236.6% in the third quarter. FMR LLC now owns 5,032 shares of the company’s stock valued at $166,000 after buying an additional 3,537 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 buying an additional 1,530 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Tarsus Pharmaceuticals by 87.5% during the 3rd quarter. SG Americas Securities LLC now owns 7,242 shares of the company’s stock worth $238,000 after acquiring an additional 3,379 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.