Guggenheim Forecasts Strong Price Appreciation for Tarsus Pharmaceuticals (NASDAQ:TARS) Stock

Tarsus Pharmaceuticals (NASDAQ:TARS) had its price objective raised by analysts at Guggenheim from $84.00 to $87.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 27.77% from the stock’s current price.

TARS has been the topic of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Wednesday, October 8th. Zacks Research upgraded Tarsus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Friday, September 5th. Finally, HC Wainwright boosted their price objective on Tarsus Pharmaceuticals from $72.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $69.83.

Tarsus Pharmaceuticals Stock Down 0.2%

NASDAQ TARS opened at $68.09 on Wednesday. The business has a fifty day moving average price of $62.57 and a 200 day moving average price of $51.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.21 and a current ratio of 4.29. The company has a market cap of $2.87 billion, a P/E ratio of -33.71 and a beta of 0.82. Tarsus Pharmaceuticals has a one year low of $38.51 and a one year high of $76.81.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its earnings results on Tuesday, November 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. The business had revenue of $118.70 million during the quarter, compared to analyst estimates of $114.22 million. Tarsus Pharmaceuticals had a negative net margin of 22.17% and a negative return on equity of 26.29%. Research analysts anticipate that Tarsus Pharmaceuticals will post -3.17 EPS for the current fiscal year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, Director William J. Phd Link sold 27,116 shares of Tarsus Pharmaceuticals stock in a transaction on Monday, September 8th. The stock was sold at an average price of $57.00, for a total value of $1,545,612.00. Following the sale, the director owned 143,332 shares in the company, valued at $8,169,924. The trade was a 15.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bobak R. Azamian sold 6,000 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $55.37, for a total value of $332,220.00. Following the transaction, the chief executive officer owned 812,106 shares of the company’s stock, valued at approximately $44,966,309.22. This represents a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 39,116 shares of company stock valued at $2,177,832. 8.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several large investors have recently made changes to their positions in TARS. Amalgamated Bank increased its holdings in Tarsus Pharmaceuticals by 30.1% in the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company’s stock valued at $65,000 after purchasing an additional 295 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Tarsus Pharmaceuticals by 26.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,623 shares of the company’s stock worth $66,000 after buying an additional 339 shares during the period. Osaic Holdings Inc. grew its stake in shares of Tarsus Pharmaceuticals by 779.1% in the second quarter. Osaic Holdings Inc. now owns 2,778 shares of the company’s stock valued at $113,000 after buying an additional 2,462 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Tarsus Pharmaceuticals by 220.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,045 shares of the company’s stock valued at $164,000 after buying an additional 2,782 shares during the period. Finally, Quarry LP lifted its stake in Tarsus Pharmaceuticals by 20.0% during the 1st quarter. Quarry LP now owns 3,599 shares of the company’s stock worth $185,000 after acquiring an additional 599 shares in the last quarter. 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.