Tarsus Pharmaceuticals (NASDAQ:TARS) Stock Price Expected to Rise, Guggenheim Analyst Says

Tarsus Pharmaceuticals (NASDAQ:TARS) had its target price boosted by analysts at Guggenheim from $87.00 to $90.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s target price would suggest a potential upside of 19.92% from the company’s previous close.

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

Tarsus Pharmaceuticals Price Performance

NASDAQ TARS traded up $0.04 on Wednesday, hitting $75.05. The stock had a trading volume of 154,785 shares, compared to its average volume of 616,850. The firm has a 50-day moving average of $72.25 and a 200-day moving average of $68.35. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.25 and a current ratio of 4.29. Tarsus Pharmaceuticals has a 52-week low of $38.51 and a 52-week high of $85.25. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -46.49, a price-to-earnings-growth ratio of 1.01 and a beta of 0.57.

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

Insider Buying and Selling

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 6,000 shares of the business’s stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $82.51, for a total value of $495,060.00. Following the completion of the sale, the chief executive officer directly owned 857,991 shares of the company’s stock, valued at $70,792,837.41. The trade was a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Dianne C. Whitfield sold 7,397 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $80.10, for a total value of $592,499.70. Following the transaction, the insider directly owned 38,958 shares in the company, valued at $3,120,535.80. This trade 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.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. RTW Investments LP boosted its stake in shares of Tarsus Pharmaceuticals by 5.0% during the fourth quarter. RTW Investments LP now owns 3,335,320 shares of the company’s stock valued at $273,096,000 after purchasing an additional 157,884 shares during the period. Deep Track Capital LP raised its stake in shares of Tarsus Pharmaceuticals by 71.4% during the third quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock valued at $178,290,000 after acquiring an additional 1,250,000 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Tarsus Pharmaceuticals by 5.5% during the third quarter. Jennison Associates LLC now owns 2,604,580 shares of the company’s stock valued at $154,790,000 after acquiring an additional 136,582 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Tarsus Pharmaceuticals by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company’s stock worth $196,476,000 after purchasing an additional 127,470 shares during the period. Finally, Morgan Stanley increased its holdings in Tarsus Pharmaceuticals by 6.7% during the 4th quarter. Morgan Stanley now owns 2,040,742 shares of the company’s stock valued at $167,096,000 after purchasing an additional 128,340 shares during the period. 90.01% of the stock is currently owned by institutional investors.

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.