Barclays Cuts Tarsus Pharmaceuticals (NASDAQ:TARS) Price Target to $60.00

Tarsus Pharmaceuticals (NASDAQ:TARS) had its price objective lowered by Barclays from $62.00 to $60.00 in a report published on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

TARS has been the topic of several other research reports. HC Wainwright restated a “buy” rating and issued a $73.00 price target on shares of Tarsus Pharmaceuticals in a research note on Wednesday. Guggenheim restated a “buy” rating and issued a $78.00 price target (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a research note on Monday, February 24th. Oppenheimer raised their price objective 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. Finally, The Goldman Sachs Group raised their price objective on shares of Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tarsus Pharmaceuticals has an average rating of “Buy” and an average target price of $61.33.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ:TARS opened at $44.48 on Wednesday. The firm’s 50 day moving average is $50.97 and its two-hundred day moving average is $43.13. Tarsus Pharmaceuticals has a 52 week low of $20.08 and a 52 week high of $57.28. The firm has a market capitalization of $1.70 billion, a P/E ratio of -11.67 and a beta of 1.01. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings results on Tuesday, February 25th. 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. Analysts anticipate that Tarsus Pharmaceuticals will post -3.17 earnings per share for the current year.

Institutional Trading of Tarsus Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. boosted its holdings in Tarsus Pharmaceuticals by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,848 shares of the company’s stock worth $213,000 after buying an additional 244 shares in the last quarter. Sherbrooke Park Advisers LLC boosted its holdings in Tarsus Pharmaceuticals by 7.2% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 6,571 shares of the company’s stock worth $364,000 after buying an additional 443 shares in the last quarter. Crowley Wealth Management Inc. bought a new stake in Tarsus Pharmaceuticals during the fourth quarter worth approximately $25,000. Bank of New York Mellon Corp boosted its holdings in Tarsus Pharmaceuticals by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 101,928 shares of the company’s stock worth $5,644,000 after buying an additional 498 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in Tarsus Pharmaceuticals by 1.2% during the fourth quarter. Swiss National Bank now owns 52,333 shares of the company’s stock worth $2,898,000 after buying an additional 600 shares in the last quarter. 90.01% of the stock is currently owned by 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.