Tarsus Pharmaceuticals (NASDAQ:TARS) Trading 3.6% Higher

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s stock price traded up 3.6% during mid-day trading on Wednesday . The company traded as high as $32.28 and last traded at $32.18. 59,029 shares were traded during trading, a decline of 92% from the average session volume of 714,391 shares. The stock had previously closed at $31.05.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TARS shares. William Blair raised shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a research 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 analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $51.60.

Tarsus Pharmaceuticals Price Performance

The firm has a market capitalization of $1.21 billion, a P/E ratio of -6.51 and a beta of 1.06. 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 business’s 50 day moving average is $27.16 and its 200-day moving average is $31.03.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating 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 company had revenue of $40.81 million for the quarter, compared to analyst estimates of $31.30 million. During the same quarter last year, the company posted ($1.17) EPS. As a group, sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. RTW Investments LP raised its stake in shares of Tarsus Pharmaceuticals by 9.4% during the fourth quarter. RTW Investments LP now owns 3,152,341 shares of the company’s stock valued at $63,835,000 after acquiring an additional 271,640 shares during the last quarter. Cowen AND Company LLC raised 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 purchasing an additional 74,855 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Tarsus Pharmaceuticals by 14.5% during the 1st 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 stake in shares of Tarsus Pharmaceuticals in the 1st quarter valued at about $48,380,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Tarsus Pharmaceuticals during the second quarter worth about $28,904,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.