Tarsus Pharmaceuticals (NASDAQ:TARS) Upgraded at Barclays

Barclays upgraded shares of Tarsus Pharmaceuticals (NASDAQ:TARS) to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Zacks Research raised shares of Tarsus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, September 5th. HC Wainwright raised their target price on shares of Tarsus Pharmaceuticals from $72.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Wall Street Zen upgraded Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Mizuho initiated coverage on Tarsus Pharmaceuticals in a research note on Thursday, November 20th. They set an “outperform” rating and a $100.00 price target on the stock. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $51.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $79.86.

Tarsus Pharmaceuticals Price Performance

Tarsus Pharmaceuticals stock traded up $0.81 during mid-day trading on Monday, hitting $82.13. 23,774 shares of the company were exchanged, compared to its average volume of 631,786. Tarsus Pharmaceuticals has a 12-month low of $38.51 and a 12-month high of $85.25. The company has a market capitalization of $3.49 billion, a P/E ratio of -40.52 and a beta of 0.74. The business’s 50 day simple moving average is $73.37 and its two-hundred day simple moving average is $56.38. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.29 and a quick ratio of 4.25.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. The business had revenue of $118.70 million for the quarter, compared to analyst estimates of $114.22 million. Tarsus Pharmaceuticals had a negative return on equity of 26.29% and a negative net margin of 22.17%. Analysts forecast that Tarsus Pharmaceuticals will post -3.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Bobak R. Azamian sold 6,000 shares of the business’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $55.37, for a total transaction of $332,220.00. Following the completion of the sale, the chief executive officer owned 812,106 shares in the company, valued at approximately $44,966,309.22. The trade was a 0.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.97% of the company’s stock.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of TARS. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Tarsus Pharmaceuticals by 26.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,623 shares of the company’s stock valued at $66,000 after purchasing an additional 339 shares during the period. Osaic Holdings Inc. grew its holdings in Tarsus Pharmaceuticals by 779.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,778 shares of the company’s stock valued at $113,000 after purchasing an additional 2,462 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Tarsus Pharmaceuticals by 220.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,045 shares of the company’s stock worth $164,000 after buying an additional 2,782 shares during the period. Quarry LP increased its stake in Tarsus Pharmaceuticals by 20.0% during the 1st quarter. Quarry LP now owns 3,599 shares of the company’s stock worth $185,000 after buying an additional 599 shares during the period. Finally, AlphaQuest LLC acquired a new position in Tarsus Pharmaceuticals in the 1st quarter worth $189,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Company Profile

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.