Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Given Consensus Recommendation of “Buy” by Analysts

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) has received a consensus recommendation of “Buy” from the seven research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $63.67.

A number of equities analysts recently issued reports on the stock. Guggenheim reissued a “buy” rating and issued a $78.00 price target (up from $75.00) on shares of Tarsus Pharmaceuticals in a research note on Monday, February 24th. HC Wainwright restated a “buy” rating and issued a $73.00 target price on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. Oppenheimer upped their price target on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Jefferies Financial Group raised their price objective on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, Barclays reduced their target price on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th.

Tarsus Pharmaceuticals Trading Up 1.0 %

NASDAQ TARS opened at $47.49 on Thursday. The stock has a market cap of $1.82 billion, a P/E ratio of -12.46 and a beta of 0.94. Tarsus Pharmaceuticals has a fifty-two week low of $20.08 and a fifty-two week high of $57.28. The stock has a 50 day simple moving average of $49.10 and a two-hundred day simple moving average of $46.91. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.08. The business had revenue of $66.41 million for 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%. On average, analysts forecast that Tarsus Pharmaceuticals will post -3.17 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Dianne C. Whitfield sold 2,137 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $107,085.07. Following the completion of the sale, the insider now directly owns 46,355 shares in the company, valued at approximately $2,322,849.05. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Bryan Wahl sold 3,341 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $154,654.89. Following the completion of the transaction, the general counsel now owns 58,057 shares in the company, valued at $2,687,458.53. The trade was a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,542 shares of company stock valued at $1,581,173 over the last 90 days. Company insiders own 8.25% of the company’s stock.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Intech Investment Management LLC bought a new position in shares of Tarsus Pharmaceuticals in the third quarter worth about $282,000. Charles Schwab Investment Management Inc. increased its holdings in Tarsus Pharmaceuticals by 10.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 290,009 shares of the company’s stock worth $9,538,000 after acquiring an additional 28,130 shares in the last quarter. FMR LLC raised its stake in Tarsus Pharmaceuticals by 236.6% during the 3rd quarter. FMR LLC now owns 5,032 shares of the company’s stock worth $166,000 after acquiring an additional 3,537 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Tarsus Pharmaceuticals by 10.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,835 shares of the company’s stock worth $1,935,000 after purchasing an additional 5,709 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in shares of Tarsus Pharmaceuticals in the third quarter worth $763,000. 90.01% of the stock is currently owned by hedge funds and other 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.