Millennium Management LLC Increases Holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Millennium Management LLC increased its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 1,259.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 348,586 shares of the company’s stock after purchasing an additional 322,942 shares during the period. Millennium Management LLC owned 0.92% of Tarsus Pharmaceuticals worth $9,475,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TARS. Cowen AND Company LLC lifted its holdings in shares of Tarsus Pharmaceuticals by 3.5% in the second quarter. Cowen AND Company LLC now owns 2,197,385 shares of the company’s stock worth $59,725,000 after buying an additional 74,855 shares in the last quarter. Vanguard Group Inc. increased its holdings in Tarsus Pharmaceuticals by 14.5% during 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 period. Jennison Associates LLC purchased a new stake in Tarsus Pharmaceuticals in the 1st quarter worth approximately $48,380,000. Assenagon Asset Management S.A. bought a new position in Tarsus Pharmaceuticals in the 2nd quarter valued at $28,904,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew 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 purchasing an additional 824,000 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and issued a $63.00 price objective (up previously from $61.00) on shares of Tarsus Pharmaceuticals in a research report on Friday, August 9th. William Blair upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $51.60.

Tarsus Pharmaceuticals Stock Performance

NASDAQ TARS opened at $34.00 on Wednesday. Tarsus Pharmaceuticals, Inc. has a 52-week low of $12.57 and a 52-week high of $42.50. The company has a fifty day moving average of $28.69 and a 200-day moving average of $31.05. The company has a market capitalization of $1.28 billion, a P/E ratio of -6.96 and a beta of 1.07. The company has a debt-to-equity ratio of 0.28, a quick ratio of 6.99 and a current ratio of 7.03.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.10. Tarsus Pharmaceuticals had a negative return on equity of 63.99% and a negative net margin of 180.00%. The business had revenue of $40.81 million for the quarter, compared to the consensus estimate of $31.30 million. During the same quarter last year, the business posted ($1.17) earnings per share. As a group, equities research analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.68 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.