Tarsus Pharmaceuticals (NASDAQ:TARS) Upgraded to Buy at Wall Street Zen

Tarsus Pharmaceuticals (NASDAQ:TARS) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

TARS has been the topic of a number of other research reports. Barclays started coverage on Tarsus Pharmaceuticals in a report on Monday, December 8th. They issued an “overweight” rating and a $100.00 target price on the stock. Zacks Research lowered shares of Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $68.00 price objective on shares of Tarsus Pharmaceuticals in a research note on Thursday, February 5th. Oppenheimer raised their price objective on shares of Tarsus Pharmaceuticals from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.83.

Tarsus Pharmaceuticals Stock Performance

NASDAQ:TARS opened at $70.12 on Friday. The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.21. Tarsus Pharmaceuticals has a 12 month low of $38.51 and a 12 month high of $85.25. The company has a market cap of $2.98 billion, a PE ratio of -43.28 and a beta of 0.63. The company has a 50 day simple moving average of $68.14 and a two-hundred day simple moving average of $71.09.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings results on Monday, February 23rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Tarsus Pharmaceuticals had a negative net margin of 14.72% and a negative return on equity of 19.63%. The firm had revenue of $151.67 million for the quarter, compared to the consensus estimate of $144.56 million. Research analysts forecast that Tarsus Pharmaceuticals will post -3.17 earnings per share for the current year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, insider Elizabeth Yeu Lin sold 390 shares of Tarsus Pharmaceuticals stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $67.00, for a total transaction of $26,130.00. Following the transaction, the insider directly owned 23,308 shares of the company’s stock, valued at $1,561,636. The trade was a 1.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dianne C. Whitfield sold 4,174 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $67.00, for a total value of $279,658.00. Following the transaction, the insider owned 35,028 shares of the company’s stock, valued at approximately $2,346,876. This trade represents a 10.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 79,391 shares of company stock valued at $5,432,035 in the last ninety days. 8.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. RTW Investments LP increased its stake in shares of Tarsus Pharmaceuticals by 5.0% in the fourth quarter. RTW Investments LP now owns 3,335,320 shares of the company’s stock worth $273,096,000 after purchasing an additional 157,884 shares in the last quarter. Deep Track Capital LP lifted its stake in shares of Tarsus Pharmaceuticals by 71.4% during the 3rd quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock valued at $178,290,000 after buying an additional 1,250,000 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Tarsus Pharmaceuticals by 5.5% during the 3rd quarter. Jennison Associates LLC now owns 2,604,580 shares of the company’s stock valued at $154,790,000 after buying an additional 136,582 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Tarsus Pharmaceuticals by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company’s stock worth $196,476,000 after buying an additional 127,470 shares during the period. Finally, Morgan Stanley boosted its holdings in Tarsus Pharmaceuticals by 6.7% in the 4th quarter. Morgan Stanley now owns 2,040,742 shares of the company’s stock worth $167,096,000 after buying an additional 128,340 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company’s research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus’s lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.