Analysts Set Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Price Target at $90.67

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, four have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $90.6667.

TARS has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and issued a $88.00 price objective on shares of Tarsus Pharmaceuticals in a report on Monday, May 4th. Wall Street Zen raised Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. Oppenheimer initiated coverage on Tarsus Pharmaceuticals in a research report on Friday, April 24th. They issued an “outperform” rating and a $98.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Tuesday, April 21st. Finally, Lifesci Capital raised Tarsus Pharmaceuticals to a “strong-buy” rating in a research note on Monday, March 16th.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ:TARS opened at $65.44 on Friday. Tarsus Pharmaceuticals has a 52-week low of $38.51 and a 52-week high of $85.25. The firm has a fifty day moving average of $62.14 and a 200 day moving average of $68.19. The firm has a market capitalization of $2.82 billion, a PE ratio of -57.40 and a beta of 0.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.71 and a current ratio of 3.74.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative return on equity of 14.19% and a negative net margin of 9.02%.The business had revenue of $162.05 million for the quarter, compared to analysts’ expectations of $149.60 million. As a group, research analysts anticipate that Tarsus Pharmaceuticals will post -0.59 EPS for the current fiscal year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In related news, insider Jeffrey S. Farrow sold 14,396 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $60.95, for a total transaction of $877,436.20. Following the transaction, the insider owned 56,801 shares of the company’s stock, valued at approximately $3,462,020.95. This trade represents a 20.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Katherine Goodrich sold 2,954 shares of Tarsus Pharmaceuticals stock in a transaction on Monday, June 15th. The stock was sold at an average price of $62.08, for a total transaction of $183,384.32. Following the completion of the transaction, the director owned 2,233 shares in the company, valued at approximately $138,624.64. The trade was a 56.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 39,850 shares of company stock valued at $2,452,821. Insiders own 9.64% of the company’s stock.

Institutional Trading of Tarsus Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Deep Track Capital LP increased its holdings in shares of Tarsus Pharmaceuticals by 71.4% in the third quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock worth $178,290,000 after buying an additional 1,250,000 shares during the period. Janus Henderson Group PLC boosted its holdings in Tarsus Pharmaceuticals by 34.1% during the 4th quarter. Janus Henderson Group PLC now owns 1,930,325 shares of the company’s stock valued at $158,062,000 after acquiring an additional 491,326 shares during the period. Bank of America Corp DE boosted its holdings in Tarsus Pharmaceuticals by 57.5% during the 1st quarter. Bank of America Corp DE now owns 1,194,377 shares of the company’s stock valued at $83,786,000 after acquiring an additional 436,271 shares during the period. M&T Bank Corp grew its position in Tarsus Pharmaceuticals by 11,730.0% during the 4th quarter. M&T Bank Corp now owns 437,119 shares of the company’s stock worth $35,791,000 after acquiring an additional 433,424 shares during the last quarter. Finally, MPM Bioimpact LLC bought a new position in Tarsus Pharmaceuticals during the 2nd quarter worth approximately $13,834,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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.