Oppenheimer Begins Coverage on Tarsus Pharmaceuticals (NASDAQ:TARS)

Research analysts at Oppenheimer assumed coverage on shares of Tarsus Pharmaceuticals (NASDAQ:TARS) in a research note issued on Friday. The firm set an “outperform” rating and a $98.00 price target on the stock. Oppenheimer’s price objective would indicate a potential upside of 61.50% from the stock’s previous close.

TARS has been the topic of several other research reports. Guggenheim lifted their price objective on shares of Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Tuesday. The Goldman Sachs Group reissued a “neutral” rating and set a $68.00 price target on shares of Tarsus Pharmaceuticals in a research report on Thursday, February 5th. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Finally, Lifesci Capital upgraded shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, March 16th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.67.

Tarsus Pharmaceuticals Trading Down 0.5%

Shares of Tarsus Pharmaceuticals stock traded down $0.29 during trading on Friday, reaching $60.68. 31,458 shares of the company were exchanged, compared to its average volume of 557,488. The business has a 50-day moving average price of $69.15 and a 200-day moving average price of $72.31. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -37.35 and a beta of 0.63. The company has a quick ratio of 3.82, a current ratio of 3.85 and a debt-to-equity ratio of 0.21. Tarsus Pharmaceuticals has a twelve month low of $38.51 and a twelve month high of $85.25.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its earnings results on Monday, February 23rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $151.67 million during the quarter, compared to analyst estimates of $144.56 million. Tarsus Pharmaceuticals had a negative net margin of 14.72% and a negative return on equity of 19.63%. Sell-side analysts anticipate that Tarsus Pharmaceuticals will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In related news, Director William J. Phd Link sold 12,500 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $68.79, for a total value of $859,875.00. Following the completion of the transaction, the director owned 116,332 shares of the company’s stock, valued at approximately $8,002,478.28. This trade represents a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dianne C. Whitfield sold 4,174 shares of Tarsus Pharmaceuticals stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $67.00, for a total transaction of $279,658.00. Following the completion of the sale, the insider owned 35,028 shares in the company, valued at $2,346,876. The trade was a 10.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 79,391 shares of company stock worth $5,432,035. Company insiders own 8.97% of the company’s stock.

Institutional Trading of Tarsus Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of TARS. Rockefeller Capital Management L.P. grew its stake in Tarsus Pharmaceuticals by 15.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock valued at $105,000 after purchasing an additional 172 shares in the last quarter. State of Wisconsin Investment Board raised its stake in shares of Tarsus Pharmaceuticals by 1.1% during the 4th quarter. State of Wisconsin Investment Board now owns 31,912 shares of the company’s stock worth $2,613,000 after purchasing an additional 332 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Tarsus Pharmaceuticals by 0.6% in the 2nd quarter. Federated Hermes Inc. now owns 55,021 shares of the company’s stock valued at $2,229,000 after buying an additional 339 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in shares of Tarsus Pharmaceuticals by 11.1% in the fourth quarter. Valeo Financial Advisors LLC now owns 3,915 shares of the company’s stock valued at $321,000 after buying an additional 392 shares in the last quarter. Finally, Creative Planning grew its stake in shares of Tarsus Pharmaceuticals by 3.3% in the third quarter. Creative Planning now owns 12,367 shares of the company’s stock valued at $735,000 after buying an additional 393 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Company Profile

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.