Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Receives $92.57 Average Price Target from Brokerages

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $94.00.

Several research analysts have issued reports on TARS shares. HC Wainwright reaffirmed a “buy” rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a report on Thursday, July 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Guggenheim reduced their price target on shares of 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 downgraded shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Jefferies Financial Group boosted their price objective on shares of Tarsus Pharmaceuticals from $88.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, September 8th.

Tarsus Pharmaceuticals Trading Down 0.8%

NASDAQ TARS opened at $77.64 on Thursday. Tarsus Pharmaceuticals has a 12 month low of $50.71 and a 12 month high of $91.53. The company has a current ratio of 3.20, a quick ratio of 3.17 and a debt-to-equity ratio of 0.21. The stock’s fifty day moving average price is $68.73 and its 200-day moving average price is $66.71. The stock has a market cap of $3.41 billion, a P/E ratio of -71.23 and a beta of 0.54.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly 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 company had revenue of $173.91 million during the quarter, compared to analysts’ expectations of $169.65 million. Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%. As a group, equities analysts forecast that Tarsus Pharmaceuticals will post -2.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Elizabeth Lin sold 3,180 shares of the business’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $87.50, for a total value of $278,250.00. Following the completion of the transaction, the insider owned 1,590 shares in the company, valued at $139,125. The trade was a 66.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak Azamian sold 10,000 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $90.56, for a total value of $905,600.00. Following the transaction, the chief executive officer directly owned 827,991 shares in the company, valued at approximately $74,982,864.96. The trade was a 1.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 35,531 shares of company stock valued at $3,024,477. Corporate insiders own 9.64% of the company’s stock.

Institutional Trading of Tarsus Pharmaceuticals

A number of hedge funds have recently bought and sold shares of TARS. BlackRock Inc. bought a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at about $242,705,000. Jupiter Topco LLC purchased a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at about $176,834,000. Janus Henderson Group PLC lifted its stake 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 worth $157,223,000 after purchasing an additional 310,638 shares during the period. Assenagon Asset Management S.A. increased its stake 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 worth $89,806,000 after purchasing an additional 152,464 shares in the last quarter. Finally, Bank of America Corp DE increased its stake 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 worth $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 ophthalmic pharmaceutical company focused on developing and marketing treatments for eye conditions with significant unmet medical needs. The company’s lead product is XDEMVY (lotilaner ophthalmic solution) 0.25%, a prescription eye drop approved by the U.S. Food and Drug Administration in 2023 for the treatment of Demodex blepharitis, a common eyelid disorder associated with an infestation of Demodex mites.

XDEMVY is designed to target and eliminate Demodex mites, addressing an underlying cause of the disease rather than only managing its symptoms.