Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Up to $28.84

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $28.84, but opened at $29.60. Tarsus Pharmaceuticals shares last traded at $28.70, with a volume of 12,514 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TARS shares. The Goldman Sachs Group raised their price target on shares of Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Jefferies Financial Group boosted their target price on Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Oppenheimer upped their price target on Tarsus Pharmaceuticals from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Barclays lifted their price objective on Tarsus Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. Finally, HC Wainwright upped their price objective on shares of Tarsus Pharmaceuticals from $57.00 to $61.00 and gave the company a “buy” rating in a report on Monday, May 13th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Tarsus Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $50.38.

Tarsus Pharmaceuticals Stock Performance

The business has a fifty day moving average of $34.45 and a 200-day moving average of $29.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 7.92 and a current ratio of 8.01.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.14. The firm had revenue of $27.61 million during the quarter, compared to analysts’ expectations of $17.94 million. As a group, research analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.75 EPS for the current year.

Institutional Trading of Tarsus Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. RTW Investments LP increased its holdings in shares of Tarsus Pharmaceuticals by 9.4% in the fourth quarter. RTW Investments LP now owns 3,152,341 shares of the company’s stock worth $63,835,000 after purchasing an additional 271,640 shares during the period. Vanguard Group Inc. increased its stake in Tarsus Pharmaceuticals by 14.5% in the 1st quarter. Vanguard Group Inc. now owns 1,826,632 shares of the company’s stock worth $66,398,000 after acquiring an additional 231,131 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Tarsus Pharmaceuticals in the 1st quarter valued at about $48,380,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Tarsus Pharmaceuticals by 1,113.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 898,000 shares of the company’s stock valued at $32,642,000 after acquiring an additional 824,000 shares during the last quarter. Finally, TFG Asset Management GP Ltd grew its holdings in shares of Tarsus Pharmaceuticals by 30.1% during the fourth quarter. TFG Asset Management GP Ltd now owns 800,000 shares of the company’s stock worth $16,200,000 after purchasing an additional 185,000 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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.