Tarsus Pharmaceuticals (NASDAQ:TARS) Price Target Raised to $87.00 at Guggenheim

Tarsus Pharmaceuticals (NASDAQ:TARS) had its target price hoisted by research analysts at Guggenheim from $84.00 to $87.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective suggests a potential upside of 25.14% from the stock’s current price.

Several other brokerages also recently commented on TARS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Wednesday, October 8th. Zacks Research raised shares of Tarsus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, September 5th. Finally, HC Wainwright increased their price objective on Tarsus Pharmaceuticals from $72.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $69.83.

Tarsus Pharmaceuticals Price Performance

TARS traded down $1.98 during trading on Wednesday, reaching $69.52. The stock had a trading volume of 74,168 shares, compared to its average volume of 654,403. The stock has a market cap of $2.93 billion, a PE ratio of -29.77 and a beta of 0.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.21 and a current ratio of 5.26. Tarsus Pharmaceuticals has a one year low of $38.51 and a one year high of $76.81. The business has a 50-day moving average of $62.16 and a 200-day moving average of $50.85.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. Tarsus Pharmaceuticals had a negative net margin of 31.13% and a negative return on equity of 32.36%. The firm had revenue of $118.70 million during the quarter, compared to analyst estimates of $114.22 million. As a group, equities research analysts anticipate that Tarsus Pharmaceuticals will post -3.17 EPS for the current fiscal year.

Insider Activity

In related news, CEO Bobak R. Azamian sold 6,000 shares of the stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $55.37, for a total value of $332,220.00. Following the completion of the transaction, the chief executive officer directly owned 812,106 shares in the company, valued at $44,966,309.22. This trade represents a 0.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William J. Phd Link sold 27,116 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $57.00, for a total transaction of $1,545,612.00. Following the completion of the transaction, the director owned 143,332 shares of the company’s stock, valued at approximately $8,169,924. The trade was a 15.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 39,116 shares of company stock valued at $2,177,832. 8.97% of the stock is owned by company insiders.

Institutional Trading of Tarsus Pharmaceuticals

A number of large investors have recently made changes to their positions in TARS. Driehaus Capital Management LLC bought a new stake in shares of Tarsus Pharmaceuticals in the first quarter worth approximately $36,876,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Tarsus Pharmaceuticals during the 1st quarter worth $26,199,000. Norges Bank purchased a new position in shares of Tarsus Pharmaceuticals during the 2nd quarter worth $19,095,000. MPM Bioimpact LLC bought a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at $13,834,000. Finally, Nuveen LLC bought a new stake in shares of Tarsus Pharmaceuticals during the 1st quarter valued at $13,589,000. 90.01% of the stock is currently 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.