Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Down 2.7%

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares fell 2.7% on Tuesday . The stock traded as low as $27.27 and last traded at $27.47. 40,155 shares were traded during mid-day trading, a decline of 94% from the average session volume of 700,664 shares. The stock had previously closed at $28.24.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TARS shares. HC Wainwright upped their price target on Tarsus Pharmaceuticals from $57.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Jefferies Financial Group upped their target price on Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Barclays increased their price target on Tarsus Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, May 10th. Finally, Oppenheimer upped their price objective on shares of Tarsus Pharmaceuticals from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.38.

Tarsus Pharmaceuticals Price Performance

The company has a quick ratio of 7.92, a current ratio of 8.01 and a debt-to-equity ratio of 0.11. The business has a 50 day simple moving average of $32.97 and a 200-day simple moving average of $30.50.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its earnings results on Wednesday, May 8th. The company reported ($1.01) earnings per share for the quarter, beating the consensus estimate of ($1.15) by $0.14. The firm had revenue of $27.61 million during the quarter, compared to analyst estimates of $17.94 million. On average, sell-side analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RTW Investments LP increased its position in shares of Tarsus Pharmaceuticals by 9.4% during the 4th quarter. RTW Investments LP now owns 3,152,341 shares of the company’s stock worth $63,835,000 after purchasing an additional 271,640 shares during the last quarter. Vanguard Group Inc. raised its position in Tarsus Pharmaceuticals by 14.5% in the first quarter. Vanguard Group Inc. now owns 1,826,632 shares of the company’s stock valued at $66,398,000 after purchasing an additional 231,131 shares during the period. Jennison Associates LLC acquired a new position in Tarsus Pharmaceuticals during the first quarter worth $48,380,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Tarsus Pharmaceuticals by 1,113.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 898,000 shares of the company’s stock valued at $32,642,000 after buying an additional 824,000 shares in the last quarter. Finally, TFG Asset Management GP Ltd raised its holdings in shares of Tarsus Pharmaceuticals by 30.1% in the 4th quarter. TFG Asset Management GP Ltd now owns 800,000 shares of the company’s stock valued at $16,200,000 after buying an additional 185,000 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.