Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Receives $90.67 Consensus Target Price from Brokerages

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) has earned an average rating of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $90.6667.

Several research firms have recently weighed in on TARS. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Tuesday, April 21st. HC Wainwright restated a “buy” rating and set a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Monday, May 4th. Zacks Research cut shares of Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Guggenheim raised their price objective on shares of Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Oppenheimer began coverage on shares of Tarsus Pharmaceuticals in a research report on Friday, April 24th. They set an “outperform” rating and a $98.00 price objective on the stock.

Tarsus Pharmaceuticals Stock Performance

Tarsus Pharmaceuticals stock opened at $59.28 on Tuesday. The firm’s fifty day moving average price is $64.65 and its 200-day moving average price is $70.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.71 and a current ratio of 3.74. The stock has a market cap of $2.55 billion, a P/E ratio of -52.00 and a beta of 0.49. Tarsus Pharmaceuticals has a fifty-two week low of $38.51 and a fifty-two week high of $85.25.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.24. The firm had revenue of $162.05 million for the quarter, compared to analysts’ expectations of $149.60 million. Tarsus Pharmaceuticals had a negative net margin of 9.02% and a negative return on equity of 14.19%. On average, equities research analysts expect that Tarsus Pharmaceuticals will post -0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In related news, General Counsel Bryan Wahl sold 4,231 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 value of $283,477.00. Following the transaction, the general counsel owned 63,959 shares in the company, valued at $4,285,253. This trade represents a 6.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J. Phd Link sold 12,500 shares of Tarsus Pharmaceuticals stock in a transaction on Monday, March 16th. The stock was sold at an average price of $68.79, for a total transaction of $859,875.00. Following the completion of the transaction, the director owned 116,332 shares in the company, valued at approximately $8,002,478.28. The trade was a 9.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 79,391 shares of company stock worth $5,432,035 in the last 90 days. 9.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. TimesSquare Capital Management LLC purchased a new position in Tarsus Pharmaceuticals in the 3rd quarter worth $15,898,000. Citigroup Inc. raised its position in Tarsus Pharmaceuticals by 78.1% in the 3rd quarter. Citigroup Inc. now owns 40,591 shares of the company’s stock worth $2,412,000 after purchasing an additional 17,797 shares during the period. Vanguard Group Inc. raised its position in Tarsus Pharmaceuticals by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company’s stock worth $196,476,000 after purchasing an additional 127,470 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Tarsus Pharmaceuticals by 19.9% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 109,857 shares of the company’s stock worth $8,995,000 after purchasing an additional 18,267 shares during the period. Finally, D.A. Davidson & CO. bought a new stake in Tarsus Pharmaceuticals in the 4th quarter worth $1,493,000. Hedge funds and other 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.