Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Given Average Recommendation of “Buy” by Analysts

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) have been assigned a consensus rating of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $64.67.

Several brokerages recently weighed in on TARS. Oppenheimer boosted their price target on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. HC Wainwright reissued a “buy” rating and issued a $73.00 price objective on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. Barclays decreased their target price on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Jefferies Financial Group lifted their price target on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, Guggenheim lifted their target price on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday.

Tarsus Pharmaceuticals Trading Down 5.8 %

TARS stock opened at $47.36 on Monday. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -12.43 and a beta of 0.94. The business has a 50 day simple moving average of $47.94 and a two-hundred day simple moving average of $48.74. Tarsus Pharmaceuticals has a 1-year low of $20.08 and a 1-year high of $57.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.05. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. The business had revenue of $78.34 million during the quarter, compared to the consensus estimate of $72.50 million. Research analysts anticipate that Tarsus Pharmaceuticals will post -3.17 EPS for the current fiscal year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, CEO Bobak R. Azamian sold 7,131 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total value of $330,093.99. Following the transaction, the chief executive officer now directly owns 70,720 shares in the company, valued at approximately $3,273,628.80. This represents a 9.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Bryan Wahl sold 3,341 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $154,654.89. Following the completion of the transaction, the general counsel now directly owns 58,057 shares in the company, valued at $2,687,458.53. This represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,542 shares of company stock valued at $1,581,173 in the last quarter. 8.25% of the stock is owned by insiders.

Institutional Trading of Tarsus Pharmaceuticals

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased 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. Jennison Associates LLC lifted its position in shares of Tarsus Pharmaceuticals by 14.8% in the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock worth $138,432,000 after purchasing an additional 321,552 shares during the period. Barclays PLC boosted its stake in shares of Tarsus Pharmaceuticals by 345.9% during the third quarter. Barclays PLC now owns 98,663 shares of the company’s stock valued at $3,246,000 after purchasing an additional 76,538 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Tarsus Pharmaceuticals by 0.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,146,812 shares of the company’s stock valued at $63,499,000 after buying an additional 5,565 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Tarsus Pharmaceuticals in the fourth quarter worth approximately $1,107,000. Hedge funds and other 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.