Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Up on Earnings Beat

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $45.54, but opened at $47.44. Tarsus Pharmaceuticals shares last traded at $44.83, with a volume of 251,757 shares trading hands.

The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%.

Wall Street Analysts Forecast Growth

TARS has been the subject of several analyst reports. Barclays increased their price objective on Tarsus Pharmaceuticals from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Oppenheimer raised their price target on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group raised their target price on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Finally, Guggenheim reissued a “buy” rating on shares of Tarsus Pharmaceuticals in a report on Monday. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tarsus Pharmaceuticals has an average rating of “Buy” and a consensus target price of $56.00.

Institutional Trading of Tarsus Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank acquired a new position in shares of Tarsus Pharmaceuticals in the fourth quarter worth about $105,714,000. GF Fund Management CO. LTD. acquired a new position in Tarsus Pharmaceuticals in the 4th quarter worth about $44,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new position in Tarsus Pharmaceuticals during the fourth quarter worth approximately $3,278,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Tarsus Pharmaceuticals by 18.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 69,826 shares of the company’s stock valued at $3,866,000 after purchasing an additional 10,991 shares during the period. Finally, Woodline Partners LP increased its position in shares of Tarsus Pharmaceuticals by 52.3% in the fourth quarter. Woodline Partners LP now owns 108,986 shares of the company’s stock valued at $6,035,000 after buying an additional 37,417 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Trading Down 1.4 %

The company has a 50 day moving average price of $51.75 and a two-hundred day moving average price of $42.90. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -11.86 and a beta of 1.01. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42.

About Tarsus Pharmaceuticals

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.