Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Up 9% Following Analyst Upgrade

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARSGet Free Report) was up 9% during trading on Monday after Barclays raised their price target on the stock from $60.00 to $62.00. Barclays currently has an overweight rating on the stock. Tarsus Pharmaceuticals traded as high as $52.20 and last traded at $53.16. Approximately 140,704 shares traded hands during trading, a decline of 81% from the average daily volume of 750,498 shares. The stock had previously closed at $48.78.

Several other research analysts have also commented on TARS. The Goldman Sachs Group boosted their price objective on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Oppenheimer raised their price target on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $56.00.

Get Our Latest Stock Analysis on TARS

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its position in Tarsus Pharmaceuticals by 14.8% in the fourth quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock worth $138,432,000 after acquiring an additional 321,552 shares during the period. Assenagon Asset Management S.A. increased its position in Tarsus Pharmaceuticals by 0.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,146,812 shares of the company’s stock worth $63,499,000 after purchasing an additional 5,565 shares during the last quarter. Ikarian Capital LLC lifted its stake in shares of Tarsus Pharmaceuticals by 28.7% in the 3rd quarter. Ikarian Capital LLC now owns 1,030,277 shares of the company’s stock valued at $33,886,000 after purchasing an additional 230,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Tarsus Pharmaceuticals by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 835,790 shares of the company’s stock worth $27,494,000 after purchasing an additional 62,555 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in Tarsus Pharmaceuticals by 28.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 594,876 shares of the company’s stock valued at $19,565,000 after acquiring an additional 131,636 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

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 firm has a fifty day simple moving average of $51.26 and a 200 day simple moving average of $39.40. The company has a market capitalization of $1.95 billion, a PE ratio of -13.40 and a beta of 1.02.

Tarsus Pharmaceuticals Company Profile

(Get Free Report)

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.

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