Tarsus Pharmaceuticals (NASDAQ:TARS) Stock Price Up 5.8% Following Analyst Upgrade

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s share price rose 5.8% during mid-day trading on Friday after Jefferies Financial Group raised their price target on the stock from $54.00 to $58.00. Jefferies Financial Group currently has a buy rating on the stock. Tarsus Pharmaceuticals traded as high as $44.97 and last traded at $46.08. Approximately 23,253 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 638,316 shares. The stock had previously closed at $43.57.

Several other research analysts have also weighed in on the stock. The Goldman Sachs Group upped 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. Oppenheimer increased their price target on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Barclays reduced their price objective on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Guggenheim reissued a “buy” rating and set a $78.00 price target (up from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th. Finally, HC Wainwright restated a “buy” rating and issued a $73.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. One investment 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 stock. According to data from MarketBeat.com, Tarsus Pharmaceuticals has an average rating of “Buy” and an average target price of $63.67.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in shares of Tarsus Pharmaceuticals by 2,088.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company’s stock valued at $14,477,000 after acquiring an additional 420,057 shares in the last quarter. Creative Planning purchased a new position in shares of Tarsus Pharmaceuticals in the 3rd quarter worth about $362,000. Vestal Point Capital LP bought a new stake in Tarsus Pharmaceuticals in the 3rd quarter valued at about $7,565,000. Jennison Associates LLC raised its stake in Tarsus Pharmaceuticals by 14.8% in the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock valued at $138,432,000 after acquiring an additional 321,552 shares during the period. Finally, Verition Fund Management LLC bought a new stake in shares of Tarsus Pharmaceuticals during the third quarter valued at about $763,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Tarsus Pharmaceuticals Stock 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 $50.14 and its two-hundred day moving average is $43.61. The company has a market capitalization of $1.78 billion, a P/E ratio of -12.20 and a beta of 1.05.

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

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.