Tarsus Pharmaceuticals (NASDAQ:TARS) Stock Price Up 6.3%

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shot up 6.3% during mid-day trading on Thursday . The company traded as high as $36.92 and last traded at $36.76. 234,757 shares were traded during trading, a decline of 70% from the average session volume of 769,783 shares. The stock had previously closed at $34.57.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TARS. Barclays boosted their price target on shares of Tarsus Pharmaceuticals from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Lifesci Capital reiterated an “outperform” rating on shares of Tarsus Pharmaceuticals in a research note on Tuesday, December 26th. Jefferies Financial Group upped their price objective on shares of Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group upped their price objective on shares of Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Finally, HC Wainwright upped their price objective on shares of Tarsus Pharmaceuticals from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.38.

Tarsus Pharmaceuticals Price Performance

The company has a quick ratio of 6.85, a current ratio of 6.93 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.24 billion, a P/E ratio of -7.83 and a beta of 1.07. The company’s 50-day simple moving average is $31.13 and its 200 day simple moving average is $22.14.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($1.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.37) by $0.06. The firm had revenue of $13.08 million for the quarter, compared to the consensus estimate of $4.63 million. During the same period in the prior year, the company posted ($0.49) earnings per share. As a group, sell-side analysts expect that Tarsus Pharmaceuticals, Inc. will post -4.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Bobak R. Azamian sold 10,415 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $30.60, for a total transaction of $318,699.00. Following the completion of the sale, the chief executive officer now directly owns 26,456 shares of the company’s stock, valued at approximately $809,553.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 10,415 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $30.60, for a total value of $318,699.00. Following the completion of the sale, the chief executive officer now directly owns 26,456 shares of the company’s stock, valued at approximately $809,553.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Aziz Mottiwala sold 4,766 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $30.60, for a total transaction of $145,839.60. Following the completion of the sale, the insider now directly owns 54,075 shares of the company’s stock, valued at $1,654,695. The disclosure for this sale can be found here. In the last three months, insiders sold 24,496 shares of company stock valued at $749,578. Company insiders own 11.54% of the company’s stock.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. RTW Investments LP raised its stake in shares of Tarsus Pharmaceuticals by 9.4% in the 4th quarter. RTW Investments LP now owns 3,152,341 shares of the company’s stock valued at $63,835,000 after buying an additional 271,640 shares in the last quarter. BlackRock Inc. raised its stake in shares of Tarsus Pharmaceuticals by 51.0% in the 2nd quarter. BlackRock Inc. now owns 2,199,753 shares of the company’s stock valued at $39,750,000 after buying an additional 742,493 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Tarsus Pharmaceuticals by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 1,595,501 shares of the company’s stock valued at $32,309,000 after buying an additional 43,699 shares in the last quarter. TFG Asset Management GP Ltd raised its stake in shares of Tarsus Pharmaceuticals by 30.1% in the 4th quarter. TFG Asset Management GP Ltd now owns 800,000 shares of the company’s stock valued at $16,200,000 after buying an additional 185,000 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of Tarsus Pharmaceuticals in the 3rd quarter valued at $13,399,000. Institutional investors and hedge funds 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.