Tarsus Pharmaceuticals (NASDAQ:TARS) Upgraded to “Strong-Buy” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Tarsus Pharmaceuticals (NASDAQ:TARS) to a strong-buy rating in a research note released on Thursday,Zacks reports.

Several other equities analysts have also commented on the stock. Oppenheimer increased their price target on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. Jefferies Financial Group boosted their price objective on shares of Tarsus Pharmaceuticals from $88.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, September 8th. Barclays assumed coverage on shares of Tarsus Pharmaceuticals in a report on Wednesday, September 16th. They issued an “overweight” rating and a $110.00 target price for the company. Finally, Guggenheim dropped their target price on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.86.

Tarsus Pharmaceuticals Trading Down 0.4%

NASDAQ:TARS opened at $75.69 on Thursday. Tarsus Pharmaceuticals has a 1 year low of $53.89 and a 1 year high of $91.53. The stock has a market cap of $3.32 billion, a P/E ratio of -69.44 and a beta of 0.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.17 and a current ratio of 3.20. The stock has a 50-day simple moving average of $71.22 and a 200-day simple moving average of $66.83.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The business had revenue of $173.91 million for the quarter, compared to analyst estimates of $169.65 million. Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%. As a group, analysts anticipate that Tarsus Pharmaceuticals will post -2.4 earnings per share for the current fiscal year.

Insider Activity at Tarsus Pharmaceuticals

In related news, insider Elizabeth Lin sold 3,180 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $87.50, for a total value of $278,250.00. Following the completion of the sale, the insider directly owned 1,590 shares of the company’s stock, valued at $139,125. This represents a 66.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William Link, PhD sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $78.38, for a total value of $979,750.00. Following the transaction, the director owned 94,487 shares in the company, valued at $7,405,891.06. This represents a 11.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 48,031 shares of company stock valued at $4,004,227 in the last three months. 9.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Parallel Advisors LLC increased its holdings in shares of Tarsus Pharmaceuticals by 139.2% in the 1st quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock valued at $35,000 after acquiring an additional 291 shares during the period. PNC Financial Services Group Inc. boosted its stake in Tarsus Pharmaceuticals by 367.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock worth $50,000 after purchasing an additional 558 shares during the period. State of Wyoming purchased a new position in Tarsus Pharmaceuticals during the 2nd quarter worth $103,000. Rockefeller Capital Management L.P. grew its position in Tarsus Pharmaceuticals by 15.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock worth $105,000 after purchasing an additional 172 shares during the last quarter. Finally, Nykredit A S acquired a new position in Tarsus Pharmaceuticals in the second quarter valued at $106,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a commercial-stage ophthalmic pharmaceutical company focused on developing and marketing treatments for eye conditions with significant unmet medical needs. The company’s lead product is XDEMVY (lotilaner ophthalmic solution) 0.25%, a prescription eye drop approved by the U.S. Food and Drug Administration in 2023 for the treatment of Demodex blepharitis, a common eyelid disorder associated with an infestation of Demodex mites.

XDEMVY is designed to target and eliminate Demodex mites, addressing an underlying cause of the disease rather than only managing its symptoms.