Tarsus Pharmaceuticals (NASDAQ:TARS) Raised to Buy at Wall Street Zen

Tarsus Pharmaceuticals (NASDAQ:TARS) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts have also weighed in on TARS. Lifesci Capital raised shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, March 16th. Guggenheim increased their price target on shares of Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. The Goldman Sachs Group restated a “neutral” rating and set a $68.00 price target on shares of Tarsus Pharmaceuticals in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Thursday, January 22nd. Finally, Barclays assumed coverage on shares of Tarsus Pharmaceuticals in a report on Monday, December 8th. They issued an “overweight” rating and a $100.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $91.83.

Tarsus Pharmaceuticals Stock Performance

Shares of NASDAQ TARS opened at $70.12 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.85 and a quick ratio of 3.82. Tarsus Pharmaceuticals has a one year low of $38.51 and a one year high of $85.25. The business’s 50-day moving average price is $68.14 and its two-hundred day moving average price is $71.37. The company has a market capitalization of $2.98 billion, a P/E ratio of -43.28 and a beta of 0.63.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings results 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 firm had revenue of $151.67 million for the quarter, compared to analysts’ expectations of $144.56 million. Tarsus Pharmaceuticals had a negative return on equity of 19.63% and a negative net margin of 14.72%. Analysts anticipate 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 11,964 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $67.00, for a total transaction of $801,588.00. Following the transaction, the chief executive officer owned 33,421 shares in the company, valued at $2,239,207. This trade represents a 26.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeffrey S. Farrow sold 2,186 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $67.00, for a total transaction of $146,462.00. Following the completion of the sale, the insider owned 43,316 shares of the company’s stock, valued at $2,902,172. The trade was a 4.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 79,391 shares of company stock valued at $5,432,035. Insiders own 8.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Tarsus Pharmaceuticals by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock valued at $1,137,000 after acquiring an additional 1,217 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Tarsus Pharmaceuticals by 2.0% during the 1st 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 purchasing an additional 1,394 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Tarsus Pharmaceuticals by 105.8% during the 1st quarter. Jane Street Group LLC now owns 10,456 shares of the company’s stock worth $537,000 after purchasing an additional 190,000 shares during the last quarter. Swiss National Bank boosted its stake in Tarsus Pharmaceuticals by 14.4% during the 2nd quarter. Swiss National Bank now owns 63,533 shares of the company’s stock valued at $2,574,000 after purchasing an additional 8,000 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Tarsus Pharmaceuticals by 402.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 140,610 shares of the company’s stock valued at $5,696,000 after purchasing an additional 112,637 shares during the period. Institutional investors and hedge funds 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.