Tarsus Pharmaceuticals (NASDAQ:TARS) Sets New 1-Year High at $42.50

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) hit a new 52-week high during trading on Thursday . The company traded as high as $42.50 and last traded at $39.07, with a volume of 192307 shares traded. The stock had previously closed at $37.35.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TARS shares. Oppenheimer reissued an “outperform” rating and issued a $59.00 target price (up from $55.00) on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 28th. Barclays upped their target price on Tarsus Pharmaceuticals from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Jefferies Financial Group lifted their price target on Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. HC Wainwright upped their price objective on Tarsus Pharmaceuticals from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Finally, The Goldman Sachs Group lifted their target price on Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.38.

Tarsus Pharmaceuticals Price Performance

The business’s fifty day simple moving average is $34.32 and its 200 day simple moving average is $26.09. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -7.50 and a beta of 1.10. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.93 and a quick ratio of 6.85.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($1.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.06. The business had revenue of $13.08 million during the quarter, compared to the consensus estimate of $4.63 million. During the same period last year, the business posted ($0.49) earnings per share. On average, research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -4.25 EPS for the current year.

Insider Activity at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, COO Seshadri Neervannan sold 4,879 shares of Tarsus Pharmaceuticals stock in a transaction on Monday, March 18th. The shares were sold at an average price of $30.60, for a total transaction of $149,297.40. Following the transaction, the chief operating officer now directly owns 64,767 shares of the company’s stock, valued at approximately $1,981,870.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel Bryan Wahl sold 4,436 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $30.60, for a total transaction of $135,741.60. Following the completion of the sale, the general counsel now directly owns 40,951 shares of the company’s stock, valued at $1,253,100.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Seshadri Neervannan sold 4,879 shares of Tarsus Pharmaceuticals stock in a transaction on Monday, March 18th. The stock was sold at an average price of $30.60, for a total value of $149,297.40. Following the sale, the chief operating officer now owns 64,767 shares in the company, valued at $1,981,870.20. The disclosure for this sale can be found here. In the last three months, insiders sold 24,496 shares of company stock valued at $749,578. 11.54% of the stock is owned by insiders.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Swiss National Bank grew its holdings in Tarsus Pharmaceuticals by 1.4% during the first quarter. Swiss National Bank now owns 42,433 shares of the company’s stock valued at $1,542,000 after purchasing an additional 600 shares during the period. Tower Research Capital LLC TRC increased its holdings in Tarsus Pharmaceuticals by 22.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,560 shares of the company’s stock worth $92,000 after acquiring an additional 824 shares during the last quarter. Callan Capital LLC raised its stake in Tarsus Pharmaceuticals by 11.5% in the 4th quarter. Callan Capital LLC now owns 16,950 shares of the company’s stock valued at $343,000 after acquiring an additional 1,750 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Tarsus Pharmaceuticals by 65.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,306 shares of the company’s stock valued at $94,000 after purchasing an additional 2,092 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Tarsus Pharmaceuticals by 11.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 24,227 shares of the company’s stock worth $491,000 after purchasing an additional 2,500 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

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.