Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Up 4.9%

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) rose 4.9% during mid-day trading on Monday . The stock traded as high as $29.42 and last traded at $29.26. Approximately 90,288 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 699,426 shares. The stock had previously closed at $27.88.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays increased their price objective on shares of Tarsus Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. HC Wainwright raised their price target on Tarsus Pharmaceuticals from $57.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Oppenheimer upped their price objective on Tarsus Pharmaceuticals from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Tarsus Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $50.38.

Tarsus Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 8.01 and a quick ratio of 7.92. The stock has a 50-day moving average price of $32.48 and a 200-day moving average price of $30.87. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -5.84 and a beta of 1.05.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($1.01) EPS for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.14. The company had revenue of $27.61 million for the quarter, compared to the consensus estimate of $17.94 million. As a group, analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.75 earnings per share for the current year.

Institutional Trading of Tarsus Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of TARS. Jennison Associates LLC acquired a new stake in Tarsus Pharmaceuticals during the first quarter worth approximately $48,380,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Tarsus Pharmaceuticals by 1,113.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 898,000 shares of the company’s stock worth $32,642,000 after purchasing an additional 824,000 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in Tarsus Pharmaceuticals during the 1st quarter worth approximately $12,640,000. Vanguard Group Inc. boosted its stake in Tarsus Pharmaceuticals by 25.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,551,802 shares of the company’s stock valued at $27,576,000 after purchasing an additional 316,128 shares during the period. Finally, RTW Investments LP grew its holdings in Tarsus Pharmaceuticals by 9.4% in the 4th quarter. RTW Investments LP now owns 3,152,341 shares of the company’s stock valued at $63,835,000 after buying an additional 271,640 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

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.