Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Up After Strong Earnings

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s stock price gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $45.54, but opened at $47.44. Tarsus Pharmaceuticals shares last traded at $44.83, with a volume of 251,757 shares changing hands.

The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. The company had revenue of $66.41 million for the quarter, compared to analyst estimates of $58.80 million.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TARS. Barclays upped their price target on shares of Tarsus Pharmaceuticals from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Guggenheim reiterated a “buy” rating on shares of Tarsus Pharmaceuticals in a report on Monday. Oppenheimer raised their target price on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group upped their price target on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, November 15th. One equities research 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’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $56.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Creative Planning acquired a new stake in Tarsus Pharmaceuticals during the third quarter worth $362,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Tarsus Pharmaceuticals by 64.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,317 shares of the company’s stock worth $241,000 after acquiring an additional 2,879 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Tarsus Pharmaceuticals during the 3rd quarter valued at about $3,608,000. Harbor Capital Advisors Inc. increased its stake in Tarsus Pharmaceuticals by 57.5% in the third quarter. Harbor Capital Advisors Inc. now owns 18,105 shares of the company’s stock valued at $595,000 after acquiring an additional 6,612 shares during the period. Finally, Emerald Advisers LLC acquired a new position in Tarsus Pharmaceuticals in the third quarter worth about $4,812,000. 90.01% of the stock is owned by institutional investors.

Tarsus Pharmaceuticals Price Performance

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 company’s 50-day moving average is $51.51 and its 200-day moving average is $43.00. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -10.84 and a beta of 1.01.

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.