Tarsus Pharmaceuticals’ (TARS) “Buy” Rating Reiterated at Guggenheim

Guggenheim restated their buy rating on shares of Tarsus Pharmaceuticals (NASDAQ:TARS) in a research report report published on Monday morning,Benzinga reports. Guggenheim currently has a $78.00 target price on the stock, up from their prior target price of $75.00.

Several other brokerages have also recently commented on TARS. The Goldman Sachs Group boosted their price target on shares of Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Barclays upped their target price on Tarsus Pharmaceuticals from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Finally, Oppenheimer raised their price target on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $61.33.

Tarsus Pharmaceuticals Stock Up 3.1 %

Shares of TARS stock opened at $42.56 on Monday. Tarsus Pharmaceuticals has a 12-month low of $20.08 and a 12-month high of $57.28. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average of $51.31 and a 200-day moving average of $43.00. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -11.17 and a beta of 1.01.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.08. The company had revenue of $66.41 million during the quarter, compared to analysts’ expectations of $58.80 million. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. As a group, equities research analysts predict that Tarsus Pharmaceuticals will post -3.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank acquired a new position in shares of Tarsus Pharmaceuticals in the fourth quarter valued at about $105,714,000. Jennison Associates LLC boosted its holdings in Tarsus Pharmaceuticals by 47.2% in the 3rd quarter. Jennison Associates LLC now owns 2,178,580 shares of the company’s stock valued at $71,653,000 after purchasing an additional 698,712 shares during the period. Lord Abbett & CO. LLC grew its position in shares of Tarsus Pharmaceuticals by 115.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company’s stock worth $70,873,000 after purchasing an additional 685,111 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Tarsus Pharmaceuticals by 189.4% during the fourth quarter. Millennium Management LLC now owns 644,010 shares of the company’s stock worth $35,659,000 after purchasing an additional 421,495 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Tarsus Pharmaceuticals by 2,088.8% in the third 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. 90.01% of the stock is owned by institutional investors.

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.