Tarsus Pharmaceuticals (NASDAQ:TARS) Hits New 52-Week High – Should You Buy?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s share price hit a new 52-week high on Monday . The stock traded as high as $83.78 and last traded at $82.9950, with a volume of 160715 shares. The stock had previously closed at $81.77.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TARS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Wednesday, October 8th. Mizuho started coverage on Tarsus Pharmaceuticals in a research note on Thursday, November 20th. They issued an “outperform” rating and a $100.00 price objective on the stock. HC Wainwright increased their target price on shares of Tarsus Pharmaceuticals from $72.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Zacks Research raised shares of Tarsus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, September 5th. Finally, Wall Street Zen raised shares of Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Tarsus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $74.14.

Tarsus Pharmaceuticals Price Performance

The business has a 50-day moving average of $72.01 and a 200 day moving average of $55.67. The company has a current ratio of 4.29, a quick ratio of 4.25 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $3.49 billion, a P/E ratio of -40.71 and a beta of 0.74.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings data 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 net margin of 22.17% and a negative return on equity of 26.29%. The firm had revenue of $118.70 million for the quarter, compared to the consensus estimate of $114.22 million. On average, sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Bobak R. Azamian sold 6,000 shares of the 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 sale, the chief executive officer owned 812,106 shares in the company, valued at $44,966,309.22. This represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 8.97% of the company’s stock.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its position in Tarsus Pharmaceuticals by 26.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,623 shares of the company’s stock worth $66,000 after purchasing an additional 339 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of Tarsus Pharmaceuticals by 779.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,778 shares of the company’s stock worth $113,000 after purchasing an additional 2,462 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Tarsus Pharmaceuticals by 220.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,045 shares of the company’s stock worth $164,000 after purchasing an additional 2,782 shares during the period. Quarry LP increased its holdings in Tarsus Pharmaceuticals by 20.0% during the first quarter. Quarry LP now owns 3,599 shares of the company’s stock worth $185,000 after buying an additional 599 shares during the last quarter. Finally, AlphaQuest LLC bought a new stake in Tarsus Pharmaceuticals in the first quarter worth about $189,000. Hedge funds and other institutional investors 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.