Tarsus Pharmaceuticals (NASDAQ:TARS) Price Target Raised to $105.00

Tarsus Pharmaceuticals (NASDAQ:TARS) had its price target upped by Jefferies Financial Group from $88.00 to $105.00 in a research note published on Tuesday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also weighed in on TARS. Guggenheim lowered their price objective on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Wall Street Zen cut Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Mizuho decreased 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Finally, Oppenheimer boosted their price target on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Two research analysts have 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.57.

Tarsus Pharmaceuticals Trading Down 2.0%

TARS opened at $81.12 on Tuesday. Tarsus Pharmaceuticals has a twelve month low of $48.20 and a twelve month high of $91.53. The company has a fifty day moving average of $67.84 and a 200-day moving average of $66.55. The stock has a market cap of $3.56 billion, a PE ratio of -74.42 and a beta of 0.54. 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 (NASDAQ:TARS) last released its earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The firm had revenue of $173.91 million during the quarter, compared to analyst estimates of $169.65 million. Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%. On average, sell-side analysts predict that Tarsus Pharmaceuticals will post -2.4 EPS for the current year.

Insiders Place Their Bets

In other Tarsus Pharmaceuticals news, insider Elizabeth Lin sold 10,773 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $87.50, for a total value of $942,637.50. Following the transaction, the insider 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak Azamian sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total value of $615,500.00. Following the completion of the sale, the chief executive officer directly owned 847,991 shares of the company’s stock, valued at $52,193,846.05. This trade represents a 1.17% decrease in their position. 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 have sold 75,381 shares of company stock valued at $5,477,298. 9.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

A number of large investors have recently modified their holdings of TARS. BlackRock Inc. bought a new stake in Tarsus Pharmaceuticals during the 2nd quarter valued at $242,705,000. RTW Investments LP grew its holdings 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 buying an additional 157,884 shares during the last quarter. Deep Track Capital LP grew its holdings 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 buying an additional 1,250,000 shares during the last quarter. Jupiter Topco LLC bought a new stake in shares of Tarsus Pharmaceuticals during the second quarter worth about $176,834,000. Finally, California State Teachers Retirement System increased its position in shares of Tarsus Pharmaceuticals by 5,971.9% during the second quarter. California State Teachers Retirement System now owns 2,288,813 shares of the company’s stock worth $144,058,000 after acquiring an additional 2,251,118 shares in the last quarter. 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.