Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Stock Has Consensus Target Price of $100.86 According to Brokerages

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) has earned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $100.86.

TARS has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Friday, July 17th. Mizuho lowered their target price on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Oppenheimer boosted their target price on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. The Goldman Sachs Group assumed coverage on Tarsus Pharmaceuticals in a report on Thursday, September 24th. They set a “buy” rating and a $116.00 price target on the stock. Finally, Barclays assumed coverage on Tarsus Pharmaceuticals in a report on Wednesday, September 16th. They set an “overweight” rating and a $110.00 price target on the stock.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS stock opened at $73.16 on Monday. The company has a quick ratio of 3.17, a current ratio of 3.20 and a debt-to-equity ratio of 0.21. Tarsus Pharmaceuticals has a 52 week low of $53.89 and a 52 week high of $91.53. The stock has a market capitalization of $3.21 billion, a PE ratio of -67.12 and a beta of 0.44. The firm has a 50 day moving average of $74.50 and a two-hundred day moving average of $67.24.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.24). Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%. The business had revenue of $173.91 million during the quarter, compared to analyst estimates of $169.65 million. On average, research analysts predict that Tarsus Pharmaceuticals will post -4.25 EPS for the current fiscal year.

Insider Activity

In related news, insider Elizabeth Lin sold 10,773 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $87.50, for a total transaction of $942,637.50. Following the sale, the insider directly owned 2,547 shares in the company, valued at approximately $222,862.50. This represents a 80.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak R. Azamian sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $90.56, for a total transaction of $905,600.00. Following the sale, the chief executive officer owned 827,991 shares in the company, valued at $74,982,864.96. The trade was a 1.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 48,031 shares of company stock worth $4,004,227. 9.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Tarsus Pharmaceuticals during the 2nd quarter worth approximately $242,705,000. Jupiter Topco LLC purchased a new stake in shares of Tarsus Pharmaceuticals in the 2nd quarter valued at approximately $176,834,000. Janus Henderson Group PLC raised its holdings in shares of Tarsus Pharmaceuticals by 16.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,240,963 shares of the company’s stock valued at $157,223,000 after purchasing an additional 310,638 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Tarsus Pharmaceuticals by 13.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,280,194 shares of the company’s stock valued at $89,806,000 after purchasing an additional 152,464 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Tarsus Pharmaceuticals by 57.5% in the 1st quarter. Bank of America Corp DE now owns 1,194,377 shares of the company’s stock valued at $83,786,000 after purchasing an additional 436,271 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company concentrates on areas of significant unmet need in ophthalmology and aims to address conditions that can affect ocular health, comfort and vision.

Tarsus’ primary product is XDEMVY (lotilaner ophthalmic solution) 0.25%, an eye drop approved by the U.S. Food and Drug Administration in 2023 for the treatment of Demodex blepharitis.