Tarsus Pharmaceuticals (NASDAQ:TARS) Price Target Lowered to $60.00 at Barclays

Tarsus Pharmaceuticals (NASDAQ:TARS) had its target price decreased by Barclays from $62.00 to $60.00 in a research report report published on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Oppenheimer lifted their price target on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group lifted their price target on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, November 15th. HC Wainwright reissued a “buy” rating and set a $73.00 target price on shares of Tarsus Pharmaceuticals in a report on Wednesday. Finally, Guggenheim reissued a “buy” rating and set a $78.00 target price (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tarsus Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $61.33.

Tarsus Pharmaceuticals Stock Performance

Shares of NASDAQ TARS opened at $42.56 on Wednesday. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average price is $51.31 and its two-hundred day moving average price is $43.00. Tarsus Pharmaceuticals has a 52-week low of $20.08 and a 52-week high of $57.28. The stock has a market capitalization of $1.63 billion, a P/E ratio of -11.17 and a beta of 1.01.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.08. The company had revenue of $66.41 million for the quarter, compared to analysts’ expectations of $58.80 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 forecast that Tarsus Pharmaceuticals will post -3.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank acquired a new position in Tarsus Pharmaceuticals in the fourth quarter worth approximately $105,714,000. GF Fund Management CO. LTD. acquired a new position in Tarsus Pharmaceuticals in the fourth quarter worth approximately $44,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in Tarsus Pharmaceuticals in the fourth quarter worth approximately $3,278,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Tarsus Pharmaceuticals by 18.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 69,826 shares of the company’s stock worth $3,866,000 after buying an additional 10,991 shares during the last quarter. Finally, Woodline Partners LP grew its position in Tarsus Pharmaceuticals by 52.3% in the fourth quarter. Woodline Partners LP now owns 108,986 shares of the company’s stock worth $6,035,000 after buying an additional 37,417 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.