Tarsus Pharmaceuticals (NASDAQ:TARS) Raised to Strong-Buy at Barclays

Tarsus Pharmaceuticals (NASDAQ:TARS) was upgraded by research analysts at Barclays to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks reports.

TARS has been the subject of several other reports. Wall Street Zen cut Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Oppenheimer raised their price objective on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Mizuho lowered their target price on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Finally, HC Wainwright reiterated a “buy” rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Tarsus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $94.00.

Tarsus Pharmaceuticals Trading Up 1.8%

Shares of Tarsus Pharmaceuticals stock opened at $79.03 on Wednesday. The firm has a market capitalization of $3.47 billion, a PE ratio of -72.50 and a beta of 0.54. Tarsus Pharmaceuticals has a twelve month low of $51.57 and a twelve month high of $91.53. The firm’s 50-day moving average price is $69.02 and its 200 day moving average price is $66.73. The company has a current ratio of 3.20, a quick ratio of 3.17 and a debt-to-equity ratio of 0.21.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.24). Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%.The firm had revenue of $173.91 million for the quarter, compared to analysts’ expectations of $169.65 million. On average, sell-side analysts predict that Tarsus Pharmaceuticals will post -2.4 EPS for the current fiscal year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In related news, insider Elizabeth Lin sold 3,180 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $87.50, for a total transaction of $278,250.00. Following the completion of the sale, the insider directly owned 1,590 shares of the company’s stock, valued at approximately $139,125. This trade represents a 66.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Phd Link sold 12,500 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $78.38, for a total transaction of $979,750.00. Following the completion of the sale, the director owned 94,487 shares in the company, valued at approximately $7,405,891.06. This trade represents a 11.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 48,031 shares of company stock worth $4,004,227 over the last quarter. 9.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several large investors have recently made changes to their positions in the stock. Engineers Gate Manager LP raised its position in Tarsus Pharmaceuticals by 66.5% in the second quarter. Engineers Gate Manager LP now owns 4,755 shares of the company’s stock valued at $299,000 after purchasing an additional 1,900 shares during the period. Squarepoint Ops LLC lifted its stake in Tarsus Pharmaceuticals by 22.7% during the second quarter. Squarepoint Ops LLC now owns 295,824 shares of the company’s stock worth $18,619,000 after purchasing an additional 54,791 shares in the last quarter. Nykredit A S purchased a new position in shares of Tarsus Pharmaceuticals during the second quarter worth $106,000. Pale Fire Capital SE boosted its position in shares of Tarsus Pharmaceuticals by 73.4% during the second quarter. Pale Fire Capital SE now owns 9,802 shares of the company’s stock worth $617,000 after buying an additional 4,150 shares during the period. Finally, Hsbc Holdings PLC grew its stake in shares of Tarsus Pharmaceuticals by 295.0% in the second quarter. Hsbc Holdings PLC now owns 38,090 shares of the company’s stock valued at $2,429,000 after buying an additional 28,447 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.