Tarsus Pharmaceuticals (NASDAQ:TARS) Now Covered by Analysts at Oppenheimer

Research analysts at Oppenheimer initiated coverage on shares of Tarsus Pharmaceuticals (NASDAQ:TARS) in a research note issued on Friday. The brokerage set an “outperform” rating and a $98.00 price target on the stock. Oppenheimer’s target price suggests a potential upside of 61.50% from the company’s current price.

Other analysts also recently issued reports about the company. Lifesci Capital raised Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, March 16th. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Tuesday. Guggenheim boosted their target price on shares of Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $68.00 price target on shares of Tarsus Pharmaceuticals in a research report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.67.

Tarsus Pharmaceuticals Trading Down 0.5%

Shares of TARS traded down $0.29 during mid-day trading on Friday, reaching $60.68. The company had a trading volume of 31,458 shares, compared to its average volume of 557,488. The firm has a fifty day simple moving average of $69.15 and a 200-day simple moving average of $72.31. Tarsus Pharmaceuticals has a fifty-two week low of $38.51 and a fifty-two week high of $85.25. The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -37.35 and a beta of 0.63.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings data on Monday, February 23rd. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Tarsus Pharmaceuticals had a negative return on equity of 19.63% and a negative net margin of 14.72%.The firm had revenue of $151.67 million during the quarter, compared to analysts’ expectations of $144.56 million. On average, sell-side analysts anticipate that Tarsus Pharmaceuticals will post -0.72 EPS for the current fiscal year.

Insider Activity at Tarsus Pharmaceuticals

In related news, General Counsel Bryan Wahl sold 4,231 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $67.00, for a total value of $283,477.00. Following the completion of the sale, the general counsel owned 63,959 shares in the company, valued at approximately $4,285,253. This trade represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William J. Phd Link sold 12,500 shares of Tarsus Pharmaceuticals stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $68.79, for a total value of $859,875.00. Following the sale, the director directly owned 116,332 shares in the company, valued at approximately $8,002,478.28. This trade represents a 9.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 79,391 shares of company stock valued at $5,432,035 in the last 90 days. 8.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

A number of hedge funds have recently modified their holdings of TARS. Rockefeller Capital Management L.P. boosted its stake in shares of Tarsus Pharmaceuticals by 15.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock valued at $105,000 after purchasing an additional 172 shares in the last quarter. State of Wisconsin Investment Board lifted its holdings in Tarsus Pharmaceuticals by 1.1% during the 4th quarter. State of Wisconsin Investment Board now owns 31,912 shares of the company’s stock valued at $2,613,000 after purchasing an additional 332 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Tarsus Pharmaceuticals by 0.6% during the 2nd quarter. Federated Hermes Inc. now owns 55,021 shares of the company’s stock valued at $2,229,000 after purchasing an additional 339 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in Tarsus Pharmaceuticals by 11.1% in the fourth quarter. Valeo Financial Advisors LLC now owns 3,915 shares of the company’s stock valued at $321,000 after buying an additional 392 shares in the last quarter. Finally, Creative Planning grew its stake in Tarsus Pharmaceuticals by 3.3% during the third quarter. Creative Planning now owns 12,367 shares of the company’s stock worth $735,000 after buying an additional 393 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company’s research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus’s lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.