Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Stock Has Average Target Price of $100.86 According to Brokerages

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $100.86.

A number of analysts recently commented on TARS shares. The Goldman Sachs Group initiated coverage on shares of Tarsus Pharmaceuticals in a report on Thursday, September 24th. They set a “buy” rating and a $116.00 price objective on the stock. Mizuho dropped their target price on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Jefferies Financial Group lifted their price target on shares of Tarsus Pharmaceuticals from $88.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, September 8th. Finally, Barclays initiated coverage on Tarsus Pharmaceuticals in a research note on Wednesday, September 16th. They set an “overweight” rating and a $110.00 price target on the stock.

Tarsus Pharmaceuticals Price Performance

Tarsus Pharmaceuticals stock opened at $73.61 on Monday. Tarsus Pharmaceuticals has a one year low of $53.89 and a one year high of $91.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.17 and a current ratio of 3.20. The business has a fifty day moving average of $73.96 and a two-hundred day moving average of $67.12. The company has a market cap of $3.23 billion, a P/E ratio of -67.53 and a beta of 0.44.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.24). The company had revenue of $173.91 million for the quarter, compared to analyst estimates of $169.65 million. Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%. As a group, analysts predict that Tarsus Pharmaceuticals will post -4.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Bobak Azamian sold 10,000 shares of Tarsus Pharmaceuticals stock in a transaction on Friday, September 4th. The stock was sold at an average price of $90.56, for a total transaction of $905,600.00. Following the completion of the transaction, the chief executive officer directly owned 827,991 shares of the company’s stock, valued at approximately $74,982,864.96. The trade was a 1.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William Link, PhD sold 12,500 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $78.38, for a total value of $979,750.00. Following the sale, the director owned 94,487 shares in the company, valued at approximately $7,405,891.06. The trade was a 11.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 48,031 shares of company stock valued at $4,004,227. 9.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in Tarsus Pharmaceuticals by 139.2% in the 1st quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock valued at $35,000 after acquiring an additional 291 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Tarsus Pharmaceuticals by 367.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock valued at $50,000 after acquiring an additional 558 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Tarsus Pharmaceuticals by 15.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock worth $105,000 after acquiring an additional 172 shares during the last quarter. State of Wyoming acquired a new position in Tarsus Pharmaceuticals during the second quarter worth about $103,000. Finally, Nykredit A S acquired a new position in Tarsus Pharmaceuticals during the second quarter worth about $106,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company concentrates on areas of significant unmet need in ophthalmology and aims to address conditions that can affect ocular health, comfort and vision.

Tarsus’ primary product is XDEMVY (lotilaner ophthalmic solution) 0.25%, an eye drop approved by the U.S. Food and Drug Administration in 2023 for the treatment of Demodex blepharitis.