Tarsus Pharmaceuticals (NASDAQ:TARS) Given New $105.00 Price Target at Jefferies Financial Group

Tarsus Pharmaceuticals (NASDAQ:TARS) had its target price upped by analysts at Jefferies Financial Group from $88.00 to $105.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 17.59% from the company’s current price.

A number of other brokerages have also recently issued reports on TARS. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Guggenheim decreased their target price on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. HC Wainwright reissued a “buy” rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a research note on Thursday, July 9th. Oppenheimer increased their price target on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.57.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS traded down $1.49 on Tuesday, reaching $89.29. 1,073,091 shares of the stock traded hands, compared to its average volume of 751,585. The stock’s 50-day moving average price is $66.60 and its 200-day moving average price is $66.16. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.20 and a quick ratio of 3.17. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -82.12 and a beta of 0.54. Tarsus Pharmaceuticals has a 12 month low of $48.20 and a 12 month high of $91.53.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its 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 firm had revenue of $173.91 million during the quarter, compared to the consensus estimate of $169.65 million. Equities analysts forecast that Tarsus Pharmaceuticals will post -2.06 EPS for the current fiscal year.

Insider Transactions at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, Director William Link, PhD sold 12,500 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $62.12, for a total transaction of $776,500.00. Following the completion of the transaction, the director directly owned 106,786 shares in the company, valued at $6,633,546.32. This represents a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey S. Farrow sold 14,396 shares of Tarsus Pharmaceuticals stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $60.95, for a total value of $877,436.20. Following the transaction, the insider directly owned 56,801 shares of the company’s stock, valued at approximately $3,462,020.95. The trade was a 20.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 51,428 shares of company stock valued at $3,350,810. 9.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in TARS. Parallel Advisors LLC boosted its position in Tarsus Pharmaceuticals by 139.2% in the first quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 291 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Tarsus Pharmaceuticals by 367.1% during the first quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock worth $50,000 after buying an additional 558 shares in the last quarter. Comerica Bank increased its holdings in shares of Tarsus Pharmaceuticals by 470.0% during the fourth quarter. Comerica Bank now owns 855 shares of the company’s stock worth $70,000 after buying an additional 705 shares in the last quarter. Truvestments Capital LLC raised its stake in shares of Tarsus Pharmaceuticals by 106.1% in the fourth quarter. Truvestments Capital LLC now owns 909 shares of the company’s stock valued at $74,000 after acquiring an additional 468 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Tarsus Pharmaceuticals by 15.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock valued at $105,000 after acquiring an additional 172 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

About Tarsus Pharmaceuticals

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.