Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Down 5%

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s stock price fell 5% during mid-day trading on Tuesday . The stock traded as low as $30.28 and last traded at $30.30. 314,432 shares were traded during mid-day trading, a decline of 56% from the average session volume of 716,160 shares. The stock had previously closed at $31.88.

Analyst Ratings Changes

Several brokerages have recently issued reports on TARS. Oppenheimer restated an “outperform” rating and issued a $63.00 price objective (up from $61.00) on shares of Tarsus Pharmaceuticals in a research note on Friday, August 9th. William Blair upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $51.60.

Tarsus Pharmaceuticals Price Performance

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 company has a market cap of $1.32 billion, a PE ratio of -7.25 and a beta of 1.06. The stock has a 50-day simple moving average of $27.25 and a 200 day simple moving average of $31.04.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings data 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 firm had revenue of $40.81 million for the quarter, compared to the consensus estimate of $31.30 million. During the same quarter in the previous year, the business earned ($1.17) EPS. Equities analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.68 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Quest Partners LLC acquired a new position in shares of Tarsus Pharmaceuticals during the 2nd quarter worth about $61,000. Canada Pension Plan Investment Board acquired a new position in shares of Tarsus Pharmaceuticals during the 2nd quarter worth about $114,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Tarsus Pharmaceuticals by 33.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company’s stock worth $166,000 after acquiring an additional 1,530 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in shares of Tarsus Pharmaceuticals during the 2nd quarter worth about $202,000. Finally, Bleakley Financial Group LLC acquired a new position in shares of Tarsus Pharmaceuticals during the 1st quarter worth about $223,000. 90.01% of the stock is 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.