Tarsus Pharmaceuticals (NASDAQ:TARS) Trading 5.8% Higher After Analyst Upgrade

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s share price was up 5.8% during trading on Friday after Oppenheimer raised their price target on the stock from $59.00 to $61.00. Oppenheimer currently has an outperform rating on the stock. Tarsus Pharmaceuticals traded as high as $36.13 and last traded at $36.03. Approximately 236,654 shares traded hands during trading, a decline of 67% from the average daily volume of 717,734 shares. The stock had previously closed at $34.04.

TARS has been the topic of a number of other research reports. Jefferies Financial Group increased their price target on Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. The Goldman Sachs Group boosted their price objective on Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. HC Wainwright raised their price target 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. Finally, Barclays boosted their price objective on shares of Tarsus Pharmaceuticals from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.63.

Insider Activity at Tarsus Pharmaceuticals

In related news, General Counsel Bryan Wahl sold 4,436 shares of the business’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 $135,741.60. Following the transaction, the general counsel now owns 40,951 shares in the company, valued at approximately $1,253,100.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Bryan Wahl sold 4,436 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $30.60, for a total transaction of $135,741.60. Following the transaction, the general counsel now directly owns 40,951 shares of the company’s stock, valued at approximately $1,253,100.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Bobak R. Azamian sold 10,415 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 24,496 shares of company stock worth $749,578 over the last quarter. Company insiders own 11.54% of the company’s stock.

Institutional Trading of Tarsus Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lord Abbett & CO. LLC bought a new position in shares of Tarsus Pharmaceuticals in the first quarter valued at approximately $2,989,000. Bleakley Financial Group LLC purchased a new stake in Tarsus Pharmaceuticals in the 1st quarter valued at $223,000. ProShare Advisors LLC bought a new position in Tarsus Pharmaceuticals during the 1st quarter valued at $277,000. Russell Investments Group Ltd. boosted its holdings in Tarsus Pharmaceuticals by 38,907.8% during the 1st quarter. Russell Investments Group Ltd. now owns 30,036 shares of the company’s stock worth $1,092,000 after acquiring an additional 29,959 shares during the last quarter. Finally, Thoroughbred Financial Services LLC bought a new stake in shares of Tarsus Pharmaceuticals in the 1st quarter worth $762,000. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Stock Performance

The company has a market cap of $1.39 billion, a PE ratio of -7.77 and a beta of 1.10. The company’s fifty day moving average price is $34.24 and its 200 day moving average price is $26.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.93 and a quick ratio of 6.85.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its earnings results on Tuesday, February 27th. The company reported ($1.31) 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 business earned ($0.49) EPS. On average, equities research analysts predict that Tarsus Pharmaceuticals, Inc. will post -4.25 earnings per share for the current year.

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.