Analysts Set Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Target Price at $92.57

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) has received an average recommendation of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $92.5714.

TARS has been the subject of several analyst reports. Oppenheimer raised their price target on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. Mizuho cut their target price on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Jefferies Financial Group lifted their target price on Tarsus Pharmaceuticals from $88.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, September 8th. Finally, Wall Street Zen cut Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS stock opened at $79.31 on Thursday. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of -72.76 and a beta of 0.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.17 and a current ratio of 3.20. Tarsus Pharmaceuticals has a one year low of $48.20 and a one year high of $91.53. The company’s 50-day moving average is $68.12 and its 200 day moving average is $66.64.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The firm had revenue of $173.91 million during the quarter, compared to analysts’ expectations of $169.65 million. Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%. Sell-side analysts expect that Tarsus Pharmaceuticals will post -2.4 EPS for the current fiscal year.

Insider Activity at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, Director William J. Phd Link sold 12,500 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $62.12, for a total transaction of $776,500.00. Following the transaction, the director owned 106,786 shares in the company, valued at approximately $6,633,546.32. This represents a 10.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak R. Azamian sold 10,000 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $90.56, for a total transaction of $905,600.00. Following the transaction, the chief executive officer owned 827,991 shares in the company, valued at $74,982,864.96. This represents a 1.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 75,381 shares of company stock valued at $5,477,298 over the last three months. 9.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Tarsus Pharmaceuticals in the second quarter worth approximately $242,705,000. RTW Investments LP raised its stake in Tarsus Pharmaceuticals by 5.0% during the 4th quarter. RTW Investments LP now owns 3,335,320 shares of the company’s stock valued at $273,096,000 after buying an additional 157,884 shares during the last quarter. Deep Track Capital LP lifted its holdings 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 during the period. Jupiter Topco LLC bought a new position in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at $176,834,000. Finally, California State Teachers Retirement System lifted its holdings in shares of Tarsus Pharmaceuticals by 5,971.9% during the 2nd quarter. California State Teachers Retirement System now owns 2,288,813 shares of the company’s stock valued at $144,058,000 after buying an additional 2,251,118 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a commercial-stage ophthalmic pharmaceutical company focused on developing and marketing treatments for eye conditions with significant unmet medical needs. The company’s lead product is XDEMVY (lotilaner ophthalmic solution) 0.25%, a prescription eye drop approved by the U.S. Food and Drug Administration in 2023 for the treatment of Demodex blepharitis, a common eyelid disorder associated with an infestation of Demodex mites.

XDEMVY is designed to target and eliminate Demodex mites, addressing an underlying cause of the disease rather than only managing its symptoms.