Tarsus Pharmaceuticals (NASDAQ:TARS) Hits New 1-Year High After Analyst Upgrade

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s stock price reached a new 52-week high on Thursday after Oppenheimer raised their price target on the stock from $63.00 to $65.00. Oppenheimer currently has an outperform rating on the stock. Tarsus Pharmaceuticals traded as high as $52.99 and last traded at $49.56, with a volume of 99352 shares. The stock had previously closed at $46.51.

Separately, William Blair upgraded shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $52.00.

Institutional Trading of Tarsus Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in shares of Tarsus Pharmaceuticals in the 2nd quarter valued at $61,000. Canada Pension Plan Investment Board bought a new stake in Tarsus Pharmaceuticals during the second quarter valued at $114,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Tarsus Pharmaceuticals by 33.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company’s stock worth $166,000 after acquiring an additional 1,530 shares during the period. FMR LLC raised its position in shares of Tarsus Pharmaceuticals by 236.6% in the 3rd quarter. FMR LLC now owns 5,032 shares of the company’s stock worth $166,000 after acquiring an additional 3,537 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in shares of Tarsus Pharmaceuticals in the 2nd quarter valued at about $202,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Trading Up 0.3 %

The firm has a 50-day moving average of $37.17 and a 200 day moving average of $32.33. The company has a market cap of $1.77 billion, a P/E ratio of -11.09 and a beta of 1.00. The company has a current ratio of 7.03, a quick ratio of 6.99 and a debt-to-equity ratio of 0.28.

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.