Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Up After Analyst Upgrade

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares gapped up before the market opened on Friday after HC Wainwright raised their price target on the stock from $42.00 to $50.00. The stock had previously closed at $15.57, but opened at $17.07. HC Wainwright currently has a buy rating on the stock. Tarsus Pharmaceuticals shares last traded at $17.70, with a volume of 244,531 shares.

Other equities analysts have also issued research reports about the stock. Guggenheim upped their price target on shares of Tarsus Pharmaceuticals from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, September 11th. William Blair started coverage on shares of Tarsus Pharmaceuticals in a research note on Tuesday, July 18th. They issued an “outperform” rating and a $44.00 target price for the company. Finally, Bank of America upped their target price on shares of Tarsus Pharmaceuticals from $42.00 to $54.00 in a research note on Wednesday, July 26th.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, insider Jose M. Trevejo sold 1,604 shares of the stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $18.00, for a total transaction of $28,872.00. Following the transaction, the insider now directly owns 4,503 shares in the company, valued at approximately $81,054. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 8,000 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $17.23, for a total transaction of $137,840.00. Following the sale, the chief executive officer now directly owns 902,106 shares of the company’s stock, valued at $15,543,286.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jose M. Trevejo sold 1,604 shares of the stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $18.00, for a total transaction of $28,872.00. Following the completion of the sale, the insider now directly owns 4,503 shares in the company, valued at approximately $81,054. The disclosure for this sale can be found here. Insiders have sold 25,604 shares of company stock worth $410,312 in the last ninety days. 11.54% of the stock is owned by insiders.

Institutional Trading of Tarsus Pharmaceuticals

A number of large investors have recently modified their holdings of TARS. Royal Bank of Canada increased its holdings in shares of Tarsus Pharmaceuticals by 122.0% in the 2nd quarter. Royal Bank of Canada now owns 2,817 shares of the company’s stock worth $50,000 after acquiring an additional 1,548 shares during the period. UBS Group AG increased its holdings in shares of Tarsus Pharmaceuticals by 37.0% in the 1st quarter. UBS Group AG now owns 4,226 shares of the company’s stock worth $71,000 after acquiring an additional 1,142 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Tarsus Pharmaceuticals by 65.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,306 shares of the company’s stock worth $94,000 after acquiring an additional 2,092 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Tarsus Pharmaceuticals in the 3rd quarter worth about $94,000. Finally, Simplex Trading LLC bought a new position in Tarsus Pharmaceuticals in the 2nd quarter valued at about $97,000. Institutional investors and hedge funds own 70.02% of the company’s stock.

Tarsus Pharmaceuticals Stock Up 12.2 %

The stock’s 50-day moving average is $15.63 and its 200-day moving average is $16.89. The stock has a market cap of $569.87 million, a P/E ratio of -4.57 and a beta of 0.79. 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 announced its earnings results on Thursday, August 10th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.08) by ($0.09). As a group, research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -4.81 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.