Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Given Average Recommendation of “Buy” by Brokerages

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) have received a consensus rating of “Buy” from the seven research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $66.67.

Several equities research analysts have weighed in on the company. Jefferies Financial Group upped their target price on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Guggenheim upped their price target on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Oppenheimer began coverage on shares of Tarsus Pharmaceuticals in a report on Monday, June 2nd. They set an “outperform” rating and a $75.00 price target for the company. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, Barclays lowered their price target on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th.

Tarsus Pharmaceuticals Stock Up 1.0%

NASDAQ TARS opened at $41.29 on Tuesday. The business has a fifty day moving average price of $45.50 and a two-hundred day moving average price of $48.52. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. Tarsus Pharmaceuticals has a fifty-two week low of $20.08 and a fifty-two week high of $57.28. The stock has a market capitalization of $1.73 billion, a PE ratio of -10.84 and a beta of 0.83.

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

Insider Activity at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, insider Dianne C. Whitfield sold 2,137 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $50.11, for a total transaction of $107,085.07. Following the completion of the sale, the insider now directly owns 46,355 shares in the company, valued at approximately $2,322,849.05. This trade represents a 4.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Bobak R. Azamian sold 8,534 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $50.11, for a total value of $427,638.74. Following the sale, the chief executive officer now owns 53,635 shares of the company’s stock, valued at approximately $2,687,649.85. The trade was a 13.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,755 shares of company stock worth $989,263 over the last three months. Company insiders own 8.97% of the company’s stock.

Institutional Trading of Tarsus Pharmaceuticals

Large investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its position in shares of Tarsus Pharmaceuticals by 2.1% during the 4th quarter. Rhumbline Advisers now owns 49,534 shares of the company’s stock worth $2,743,000 after purchasing an additional 1,019 shares in the last quarter. Nations Financial Group Inc. IA ADV bought a new position in shares of Tarsus Pharmaceuticals during the 4th quarter worth about $332,000. Y Intercept Hong Kong Ltd bought a new position in shares of Tarsus Pharmaceuticals during the 4th quarter worth about $837,000. Bank of New York Mellon Corp boosted its position in shares of Tarsus Pharmaceuticals by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 101,928 shares of the company’s stock worth $5,644,000 after purchasing an additional 498 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Tarsus Pharmaceuticals during the 4th quarter worth about $227,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

About Tarsus Pharmaceuticals

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.