Tarsus Pharmaceuticals (NASDAQ:TARS) Price Target Raised to $87.00 at Guggenheim

Tarsus Pharmaceuticals (NASDAQ:TARS) had its price target increased by Guggenheim from $84.00 to $87.00 in a research report sent to investors on Wednesday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

TARS has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Tarsus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, September 5th. Finally, HC Wainwright lifted their target price on shares of Tarsus Pharmaceuticals from $72.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Tarsus Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $69.83.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS stock opened at $68.20 on Wednesday. The business’s fifty day simple moving average is $62.37 and its 200-day simple moving average is $50.97. The company has a market cap of $2.88 billion, a PE ratio of -33.76 and a beta of 0.82. The company has a current ratio of 5.26, a quick ratio of 5.21 and a debt-to-equity ratio of 0.22. Tarsus Pharmaceuticals has a 12-month low of $38.51 and a 12-month high of $76.81.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its earnings results on Tuesday, November 4th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.05. Tarsus Pharmaceuticals had a negative return on equity of 27.07% and a negative net margin of 22.17%.The firm had revenue of $118.70 million for the quarter, compared to the consensus estimate of $114.22 million. Analysts expect that Tarsus Pharmaceuticals will post -3.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director William J. Phd Link sold 27,116 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $57.00, for a total value of $1,545,612.00. Following the completion of the transaction, the director owned 143,332 shares of the company’s stock, valued at $8,169,924. The trade was a 15.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bobak R. Azamian sold 6,000 shares of the business’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $55.37, for a total value of $332,220.00. Following the completion of the transaction, the chief executive officer directly owned 812,106 shares of the company’s stock, valued at approximately $44,966,309.22. This trade represents a 0.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 39,116 shares of company stock worth $2,177,832 in the last quarter. Company insiders own 8.97% of the company’s stock.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in TARS. Driehaus Capital Management LLC acquired a new stake in shares of Tarsus Pharmaceuticals during the 1st quarter worth approximately $36,876,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Tarsus Pharmaceuticals in the first quarter worth about $26,199,000. Norges Bank acquired a new position in shares of Tarsus Pharmaceuticals in the second quarter worth about $19,095,000. MPM Bioimpact LLC acquired a new position in shares of Tarsus Pharmaceuticals in the second quarter worth about $13,834,000. Finally, Nuveen LLC acquired a new position in shares of Tarsus Pharmaceuticals in the first quarter worth about $13,589,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.