Tarsus Pharmaceuticals (NASDAQ:TARS) Now Covered by Oppenheimer

Oppenheimer assumed coverage on shares of Tarsus Pharmaceuticals (NASDAQ:TARS) in a research note released on Monday. The brokerage issued an outperform rating and a $75.00 price target on the stock.

A number of other brokerages have also recently commented on TARS. Barclays lowered their price target on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Wall Street Zen lowered Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. The Goldman Sachs Group boosted their price objective on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Guggenheim boosted their price objective on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Finally, HC Wainwright upgraded Tarsus Pharmaceuticals to a “buy” rating and set a $72.00 price objective for the company in a research report on Tuesday, May 27th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tarsus Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $66.67.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS stock opened at $43.85 on Monday. 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 $1.84 billion, a PE ratio of -11.51 and a beta of 0.94. The stock has a 50-day moving average of $46.79 and a 200-day moving average of $48.95. Tarsus Pharmaceuticals has a one year low of $20.08 and a one year high of $57.28.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.05. The company had revenue of $78.34 million during the quarter, compared to analysts’ expectations of $72.50 million. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. As a group, sell-side analysts expect that Tarsus Pharmaceuticals will post -3.17 earnings per share for the current year.

Insiders Place Their Bets

In other Tarsus Pharmaceuticals news, insider Dianne C. Whitfield sold 2,315 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $107,161.35. Following the completion of the transaction, the insider now owns 50,751 shares of the company’s stock, valued at $2,349,263.79. This represents a 4.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Bobak R. Azamian sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the transaction, the chief executive officer now directly owns 824,106 shares of the company’s stock, valued at approximately $41,205,300. This trade represents a 0.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,542 shares of company stock valued at $1,581,173 in the last quarter. 8.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Paradigm Biocapital Advisors LP raised its stake in shares of Tarsus Pharmaceuticals by 3.1% during the 1st quarter. Paradigm Biocapital Advisors LP now owns 2,610,197 shares of the company’s stock worth $134,086,000 after purchasing an additional 78,301 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Tarsus Pharmaceuticals by 14.8% during the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock worth $138,432,000 after purchasing an additional 321,552 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Tarsus Pharmaceuticals by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 2,226,595 shares of the company’s stock worth $114,380,000 after purchasing an additional 111,433 shares in the last quarter. Toronto Dominion Bank bought a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter worth approximately $105,714,000. Finally, Lord Abbett & CO. LLC raised its stake in shares of Tarsus Pharmaceuticals by 4.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,331,701 shares of the company’s stock worth $68,409,000 after purchasing an additional 51,714 shares in the last quarter. 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.