Tarsus Pharmaceuticals (NASDAQ:TARS) Price Target Raised to $90.00 at Guggenheim

Tarsus Pharmaceuticals (NASDAQ:TARS) had its price objective hoisted by equities researchers at Guggenheim from $87.00 to $90.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price target points to a potential upside of 19.92% from the company’s previous close.

TARS has been the subject of several other reports. Zacks Research raised Tarsus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Mizuho assumed coverage on Tarsus Pharmaceuticals in a report on Thursday, November 20th. They set an “outperform” rating and a $100.00 price target for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $68.00 price objective on shares of Tarsus Pharmaceuticals in a report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.71.

Tarsus Pharmaceuticals Stock Up 0.1%

Shares of TARS traded up $0.04 during trading hours on Wednesday, reaching $75.05. The stock had a trading volume of 154,785 shares, compared to its average volume of 616,850. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -46.49, a P/E/G ratio of 1.01 and a beta of 0.57. The firm has a 50-day simple moving average of $72.25 and a 200 day simple moving average of $68.35. The company has a current ratio of 4.29, a quick ratio of 4.25 and a debt-to-equity ratio of 0.22. Tarsus Pharmaceuticals has a 12 month low of $38.51 and a 12 month high of $85.25.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings data on Monday, February 23rd. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The business had revenue of $151.67 million during the quarter, compared to the consensus estimate of $144.56 million. Tarsus Pharmaceuticals had a negative net margin of 14.72% and a negative return on equity of 19.73%. Equities research analysts predict that Tarsus Pharmaceuticals will post -3.17 earnings per share for the current fiscal year.

Insider Activity

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 6,000 shares of the stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $82.51, for a total transaction of $495,060.00. Following the completion of the transaction, the chief executive officer directly owned 857,991 shares of the company’s stock, valued at approximately $70,792,837.41. This represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dianne C. Whitfield sold 7,397 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $80.10, for a total value of $592,499.70. Following the completion of the sale, the insider directly owned 38,958 shares of the company’s stock, valued at $3,120,535.80. This represents a 15.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 8.97% of the company’s stock.

Institutional Trading of Tarsus Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Tarsus Pharmaceuticals by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock valued at $1,137,000 after buying an additional 1,217 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Tarsus Pharmaceuticals by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,220 shares of the company’s stock worth $3,659,000 after acquiring an additional 1,394 shares during the period. Jane Street Group LLC grew its position in shares of Tarsus Pharmaceuticals by 105.8% in the first quarter. Jane Street Group LLC now owns 10,456 shares of the company’s stock valued at $537,000 after purchasing an additional 190,000 shares in the last quarter. Allianz Asset Management GmbH bought a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at $227,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Tarsus Pharmaceuticals by 15.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 10,356 shares of the company’s stock worth $420,000 after purchasing an additional 1,418 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company’s research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus’s lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.