Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Given Average Rating of “Buy” by Brokerages

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) have been given a consensus rating of “Buy” by the seven research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $63.67.

TARS has been the topic of a number of recent research reports. HC Wainwright reissued a “buy” rating and issued a $73.00 target price on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 26th. Guggenheim reissued a “buy” rating and issued a $78.00 target price (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th. Oppenheimer increased their target price on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Barclays lowered their target price on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Jefferies Financial Group increased their target price on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, March 6th.

Tarsus Pharmaceuticals Trading Up 2.8 %

Shares of NASDAQ:TARS opened at $45.87 on Thursday. The company has a market cap of $1.76 billion, a P/E ratio of -12.04 and a beta of 0.94. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. Tarsus Pharmaceuticals has a 1 year low of $20.08 and a 1 year high of $57.28. The stock’s fifty day moving average price is $48.53 and its 200-day moving average price is $47.04.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.08. The firm had revenue of $66.41 million for the quarter, compared to the consensus estimate of $58.80 million. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. Sell-side analysts expect that Tarsus Pharmaceuticals will post -3.17 earnings per share for the current year.

Insiders Place Their Bets

In other Tarsus Pharmaceuticals news, General Counsel Bryan Wahl sold 3,084 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $50.11, for a total value of $154,539.24. Following the completion of the sale, the general counsel now owns 51,712 shares in the company, valued at $2,591,288.32. This represents a 5.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Bobak R. Azamian sold 7,131 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total value of $330,093.99. Following the sale, the chief executive officer now owns 70,720 shares of the company’s stock, valued at $3,273,628.80. This represents a 9.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,542 shares of company stock worth $1,581,173 over the last quarter. 8.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Tarsus Pharmaceuticals

Several institutional investors have recently made changes to their positions in TARS. Toronto Dominion Bank purchased a new stake in shares of Tarsus Pharmaceuticals during the fourth quarter worth about $105,714,000. Lord Abbett & CO. LLC grew its holdings in Tarsus Pharmaceuticals by 115.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company’s stock valued at $70,873,000 after buying an additional 685,111 shares in the last quarter. Millennium Management LLC grew its holdings in Tarsus Pharmaceuticals by 189.4% during the 4th quarter. Millennium Management LLC now owns 644,010 shares of the company’s stock valued at $35,659,000 after buying an additional 421,495 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Tarsus Pharmaceuticals by 2,088.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company’s stock valued at $14,477,000 after buying an additional 420,057 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC grew its holdings in Tarsus Pharmaceuticals by 5,636.3% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 404,237 shares of the company’s stock valued at $22,383,000 after buying an additional 397,190 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

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.