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

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) have received a consensus recommendation of “Buy” from the seven research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $63.67.

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. 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. 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 note on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $78.00 price objective (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th. Finally, Jefferies Financial Group lifted their target price on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TARS. Toronto Dominion Bank bought a new position in Tarsus Pharmaceuticals during the fourth quarter worth about $105,714,000. Jennison Associates LLC raised its holdings in Tarsus Pharmaceuticals by 47.2% in the 3rd quarter. Jennison Associates LLC now owns 2,178,580 shares of the company’s stock valued at $71,653,000 after buying an additional 698,712 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Tarsus Pharmaceuticals by 115.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company’s stock valued at $70,873,000 after acquiring an additional 685,111 shares during the last quarter. Millennium Management LLC lifted its holdings in Tarsus Pharmaceuticals by 189.4% during the 4th quarter. Millennium Management LLC now owns 644,010 shares of the company’s stock worth $35,659,000 after buying an additional 421,495 shares during the period. Finally, JPMorgan Chase & Co. grew its position 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 buying an additional 420,057 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ:TARS opened at $46.47 on Friday. Tarsus Pharmaceuticals has a one year low of $20.08 and a one year high of $57.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. The company has a market capitalization of $1.78 billion, a PE ratio of -12.20 and a beta of 1.05. The stock has a fifty day moving average of $49.97 and a 200-day moving average of $43.88.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly 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. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. The company had revenue of $66.41 million during the quarter, compared to the consensus estimate of $58.80 million. As a group, equities analysts anticipate that Tarsus Pharmaceuticals will post -3.17 EPS 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.