Tarsus Pharmaceuticals (NASDAQ:TARS) Sets New 12-Month High – Should You Buy?

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) hit a new 52-week high on Monday . The company traded as high as $57.14 and last traded at $56.17, with a volume of 228758 shares. The stock had previously closed at $55.00.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Oppenheimer increased their target price on shares of Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tarsus Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $54.20.

Tarsus Pharmaceuticals Price Performance

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 stock has a market capitalization of $2.14 billion, a PE ratio of -14.67 and a beta of 1.04. The company’s fifty day simple moving average is $48.24 and its two-hundred day simple moving average is $35.82.

Institutional Trading of Tarsus Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC lifted its holdings in Tarsus Pharmaceuticals by 47.2% in the 3rd 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 in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Tarsus Pharmaceuticals by 2,088.8% during the third quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company’s stock valued at $14,477,000 after buying an additional 420,057 shares during the period. Millennium Management LLC boosted its position in Tarsus Pharmaceuticals by 1,259.3% during the second quarter. Millennium Management LLC now owns 348,586 shares of the company’s stock worth $9,475,000 after acquiring an additional 322,942 shares during the last quarter. Ally Bridge Group NY LLC acquired a new stake in Tarsus Pharmaceuticals during the third quarter worth approximately $10,587,000. Finally, Vestal Point Capital LP purchased a new stake in Tarsus Pharmaceuticals in the 3rd quarter worth approximately $7,565,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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.