Tarsus Pharmaceuticals (NASDAQ:TARS) Price Target Raised to $66.00

Tarsus Pharmaceuticals (NASDAQ:TARS – Get Rating) had its price objective lifted by research analysts at Oppenheimer from $55.00 to $66.00 in a report issued on Monday, The Fly reports. Oppenheimer’s price objective indicates a potential upside of 383.52% from the company’s current price.

A number of other analysts have also recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Thursday, March 17th. Zacks Investment Research upgraded shares of Tarsus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, February 24th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tarsus Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $48.00.

Shares of TARS traded down $4.66 during mid-day trading on Monday, reaching $13.65. 10,190 shares of the company’s stock were exchanged, compared to its average volume of 38,255. The stock’s fifty day simple moving average is $17.97. The stock has a market cap of $282.68 million, a PE ratio of -20.15 and a beta of 2.33. Tarsus Pharmaceuticals has a 52-week low of $14.41 and a 52-week high of $39.08.

Tarsus Pharmaceuticals (NASDAQ:TARS – Get Rating) last issued its quarterly earnings data on Monday, March 14th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.77) by $0.05. Tarsus Pharmaceuticals had a negative net margin of 24.25% and a negative return on equity of 7.66%. The company had revenue of $0.34 million for the quarter, compared to the consensus estimate of $7.11 million. On average, sell-side analysts forecast that Tarsus Pharmaceuticals will post -4.02 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Citigroup Inc. lifted its holdings in shares of Tarsus Pharmaceuticals by 123.0% in the 4th quarter. Citigroup Inc. now owns 2,145 shares of the company’s stock valued at $48,000 after buying an additional 1,183 shares during the period. Morgan Stanley purchased a new position in Tarsus Pharmaceuticals in the second quarter worth $241,000. Dimensional Fund Advisors LP acquired a new stake in Tarsus Pharmaceuticals in the fourth quarter valued at $202,000. Bank of America Corp DE boosted its position in shares of Tarsus Pharmaceuticals by 84.8% during the 4th quarter. Bank of America Corp DE now owns 10,662 shares of the company’s stock worth $240,000 after purchasing an additional 4,891 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Tarsus Pharmaceuticals during the 4th quarter worth $289,000. 70.00% of the stock is owned by institutional investors and hedge funds.

About Tarsus Pharmaceuticals (Get Rating)

Tarsus Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for ophthalmic conditions. Its lead product candidate is TP-03, a novel therapeutic that is in Phase III for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.

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