Tarsus Pharmaceuticals (NASDAQ:TARS) Trading 4.6% Higher After Analyst Upgrade

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) traded up 4.6% during mid-day trading on Monday after Guggenheim raised their price target on the stock from $46.00 to $49.00. Guggenheim currently has a buy rating on the stock. Tarsus Pharmaceuticals traded as high as $16.81 and last traded at $16.79. 10,221 shares traded hands during trading, a decline of 96% from the average session volume of 232,245 shares. The stock had previously closed at $16.05.

TARS has been the topic of a number of other reports. HC Wainwright decreased their price target on shares of Tarsus Pharmaceuticals from $50.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, August 11th. Bank of America raised their price target on shares of Tarsus Pharmaceuticals from $42.00 to $54.00 in a research note on Wednesday, July 26th. Finally, William Blair initiated coverage on shares of Tarsus Pharmaceuticals in a research note on Tuesday, July 18th. They issued an “outperform” rating and a $44.00 price target on the stock.

Insiders Place Their Bets

In other Tarsus Pharmaceuticals news, insider Aziz Mottiwala sold 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $20.05, for a total value of $48,120.00. Following the transaction, the insider now directly owns 45,806 shares of the company’s stock, valued at approximately $918,410.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tarsus Pharmaceuticals news, Director Elizabeth Yeu Lin bought 9,506 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were acquired at an average cost of $16.80 per share, with a total value of $159,700.80. Following the purchase, the director now directly owns 15,866 shares of the company’s stock, valued at approximately $266,548.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Aziz Mottiwala sold 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $20.05, for a total transaction of $48,120.00. Following the completion of the transaction, the insider now directly owns 45,806 shares in the company, valued at $918,410.30. The disclosure for this sale can be found here. Insiders have sold 140,300 shares of company stock valued at $2,737,409 in the last ninety days. 11.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Tarsus Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in TARS. Cowen AND Company LLC acquired a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter worth approximately $36,129,000. BlackRock Inc. increased its holdings in shares of Tarsus Pharmaceuticals by 51.0% during the 2nd quarter. BlackRock Inc. now owns 2,199,753 shares of the company’s stock worth $39,750,000 after buying an additional 742,493 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter worth approximately $6,535,000. Vanguard Group Inc. increased its holdings in shares of Tarsus Pharmaceuticals by 42.7% during the 3rd quarter. Vanguard Group Inc. now owns 935,649 shares of the company’s stock worth $16,018,000 after buying an additional 279,826 shares during the last quarter. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter worth approximately $3,520,000. Institutional investors and hedge funds own 70.02% of the company’s stock.

Tarsus Pharmaceuticals Price Performance

The stock’s fifty day moving average price is $18.06 and its 200-day moving average price is $16.27. The firm has a market cap of $553.84 million, a price-to-earnings ratio of -5.02 and a beta of 0.76. The company has a current ratio of 12.43, a quick ratio of 12.43 and a debt-to-equity ratio of 0.17.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its earnings results on Thursday, August 10th. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($1.08) by ($0.09). As a group, equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -4.79 earnings per share for the current fiscal year.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc, a 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 for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.