Analysts Set Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Target Price at $63.67

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) has been assigned a consensus recommendation of “Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $63.67.

A number of equities analysts have issued reports on TARS shares. HC Wainwright reaffirmed a “buy” rating and set a $73.00 price objective on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 26th. Jefferies Financial Group increased their price objective on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Oppenheimer lifted their target price on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Guggenheim reiterated a “buy” rating and issued a $78.00 price target (up from $75.00) on shares of Tarsus Pharmaceuticals in a research report on Monday, February 24th. Finally, Barclays reduced their price objective on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th.

Insider Buying and Selling at Tarsus Pharmaceuticals

In related news, insider Dianne C. Whitfield sold 2,315 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $107,161.35. Following the transaction, the insider now directly owns 50,751 shares of the company’s stock, valued at approximately $2,349,263.79. This trade represents a 4.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Bryan Wahl sold 3,084 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $50.11, for a total value of $154,539.24. Following the completion of the sale, the general counsel now directly owns 51,712 shares of the company’s stock, valued at approximately $2,591,288.32. This represents a 5.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,542 shares of company stock worth $1,581,173 over the last 90 days. Corporate insiders own 8.25% of the company’s stock.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in TARS. Paradigm Biocapital Advisors LP grew its stake in shares of Tarsus Pharmaceuticals by 3.7% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 2,531,896 shares of the company’s stock valued at $140,191,000 after buying an additional 91,451 shares during the last quarter. Jennison Associates LLC grew its position in Tarsus Pharmaceuticals by 14.8% during the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock worth $138,432,000 after acquiring an additional 321,552 shares during the last quarter. Vanguard Group Inc. increased its stake in Tarsus Pharmaceuticals by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 2,115,162 shares of the company’s stock worth $117,117,000 after purchasing an additional 17,839 shares during the period. Toronto Dominion Bank bought a new position in shares of Tarsus Pharmaceuticals in the fourth quarter worth approximately $105,714,000. Finally, Lord Abbett & CO. LLC increased its stake in shares of Tarsus Pharmaceuticals by 115.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company’s stock worth $70,873,000 after buying an additional 685,111 shares during the period. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS stock opened at $47.49 on Thursday. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30. The firm has a fifty day simple moving average of $49.10 and a two-hundred day simple moving average of $46.91. Tarsus Pharmaceuticals has a 12 month low of $20.08 and a 12 month high of $57.28. The firm has a market capitalization of $1.82 billion, a PE ratio of -12.46 and a beta of 0.94.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its earnings results on Tuesday, February 25th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. The company had revenue of $66.41 million during the quarter, compared to the consensus estimate of $58.80 million. Analysts forecast that Tarsus Pharmaceuticals will post -3.17 EPS for the current fiscal year.

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.