Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Down – Here’s What Happened

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares gapped down prior to trading on Friday . The stock had previously closed at $51.08, but opened at $49.20. Tarsus Pharmaceuticals shares last traded at $51.00, with a volume of 44,744 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TARS. The Goldman Sachs Group boosted their target price on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. William Blair upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Oppenheimer boosted their price objective on Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $54.20.

Tarsus Pharmaceuticals Stock Up 2.8 %

The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -13.78 and a beta of 1.04. The firm has a 50 day simple moving average of $44.72 and a two-hundred day simple moving average of $34.38.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cowen AND Company LLC raised its holdings in Tarsus Pharmaceuticals by 3.5% in the second quarter. Cowen AND Company LLC now owns 2,197,385 shares of the company’s stock worth $59,725,000 after purchasing an additional 74,855 shares during the period. Jennison Associates LLC increased its position in shares of Tarsus Pharmaceuticals by 47.2% in the 3rd quarter. Jennison Associates LLC now owns 2,178,580 shares of the company’s stock valued at $71,653,000 after buying an additional 698,712 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Tarsus Pharmaceuticals by 7.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,141,247 shares of the company’s stock worth $37,536,000 after buying an additional 77,825 shares during the period. Ikarian Capital LLC lifted its holdings in Tarsus Pharmaceuticals by 28.7% during the third quarter. Ikarian Capital LLC now owns 1,030,277 shares of the company’s stock worth $33,886,000 after acquiring an additional 230,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Tarsus Pharmaceuticals by 8.1% in the third quarter. Geode Capital Management LLC now owns 835,790 shares of the company’s stock valued at $27,494,000 after acquiring an additional 62,555 shares during the period. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for eye care in the United States. The company's lead product candidate is XDEMVY, a novel therapeutic for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.