Tarsus Pharmaceuticals (NASDAQ:TARS) Trading 9% Higher Following Analyst Upgrade

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s share price shot up 9% during mid-day trading on Monday after Barclays raised their price target on the stock from $60.00 to $62.00. Barclays currently has an overweight rating on the stock. Tarsus Pharmaceuticals traded as high as $52.20 and last traded at $53.16. 140,704 shares traded hands during trading, a decline of 81% from the average session volume of 750,498 shares. The stock had previously closed at $48.78.

Several other research firms also recently weighed in on TARS. Oppenheimer lifted their price target on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group increased their price target on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $56.00.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Tarsus Pharmaceuticals by 16.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 210,531 shares of the company’s stock worth $6,924,000 after purchasing an additional 29,465 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Tarsus Pharmaceuticals by 2,088.8% during the third quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company’s stock worth $14,477,000 after acquiring an additional 420,057 shares in the last quarter. Creative Planning bought a new position in shares of Tarsus Pharmaceuticals in the third quarter worth $362,000. Vestal Point Capital LP bought a new stake in shares of Tarsus Pharmaceuticals during the 3rd quarter valued at $7,565,000. Finally, Essex Investment Management Co. LLC purchased a new stake in Tarsus Pharmaceuticals during the 3rd quarter worth about $3,590,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Trading Up 7.1 %

The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. The firm has a market cap of $2.00 billion, a P/E ratio of -13.82 and a beta of 1.02. The firm has a 50 day simple moving average of $51.04 and a 200 day simple moving average of $39.10.

Tarsus Pharmaceuticals Company Profile

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.