Tarsus Pharmaceuticals (NASDAQ:TARS) Stock Price Down 6.3% – Here’s What Happened

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) was down 6.3% on Tuesday . The company traded as low as $43.61 and last traded at $44.06. Approximately 648,444 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 950,679 shares. The stock had previously closed at $47.02.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Oppenheimer boosted their price target on shares of Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $54.20.

Tarsus Pharmaceuticals Trading Down 6.0 %

The stock has a market cap of $1.69 billion, a PE ratio of -11.60 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. The stock has a fifty day moving average price of $51.04 and a 200 day moving average price of $37.90.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jennison Associates LLC boosted its stake in shares of Tarsus Pharmaceuticals by 47.2% during the third quarter. Jennison Associates LLC now owns 2,178,580 shares of the company’s stock valued at $71,653,000 after purchasing an additional 698,712 shares during the period. Assenagon Asset Management S.A. grew its stake in Tarsus Pharmaceuticals by 0.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,146,812 shares of the company’s stock worth $63,499,000 after acquiring an additional 5,565 shares in the last quarter. Ikarian Capital LLC increased its position in shares of Tarsus Pharmaceuticals by 28.7% during the third quarter. Ikarian Capital LLC now owns 1,030,277 shares of the company’s stock worth $33,886,000 after acquiring an additional 230,000 shares during the period. Geode Capital Management LLC raised its stake in shares of Tarsus Pharmaceuticals by 8.1% during the third quarter. Geode Capital Management LLC now owns 835,790 shares of the company’s stock valued at $27,494,000 after acquiring an additional 62,555 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of Tarsus Pharmaceuticals by 28.4% in the third quarter. Lord Abbett & CO. LLC now owns 594,876 shares of the company’s stock valued at $19,565,000 after purchasing an additional 131,636 shares during the period. 90.01% of the stock is owned by institutional investors.

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.