Jefferies Financial Group Increases Tarsus Pharmaceuticals (NASDAQ:TARS) Price Target to $105.00

Key Points

• Jefferies raised its price target for Tarsus Pharmaceuticals from $88 to $105 and maintained a “buy” rating, implying 17.59% upside from the reported share price.
• Analyst sentiment remains favorable overall, with Tarsus carrying a consensus “Moderate Buy” rating and an average price target of $92.57, despite one “sell” rating.
• Tarsus shares fell 1.6% to $89.29 in the reported session. The company missed quarterly EPS expectations, reporting a loss of $0.43 per share versus the $0.19 consensus estimate, although revenue exceeded forecasts.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) had its price objective lifted by research analysts at Jefferies Financial Group from $88.00 to $105.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Jefferies Financial Group's target price would suggest a potential upside of 17.59% from the stock's current price.

A number of other analysts have also recently weighed in on TARS. HC Wainwright reaffirmed a "buy" rating and issued a $88.00 price target on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Guggenheim cut their price objective on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a "buy" rating on the stock in a research note on Tuesday, July 21st. Weiss Ratings reissued a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a research note on Friday, July 17th. Oppenheimer boosted their target price on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Finally, Mizuho decreased their target price on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an "outperform" rating for the company in a research report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Tarsus Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.57.

Tarsus Pharmaceuticals Stock Down 1.6%

Shares of TARS traded down $1.49 during mid-day trading on Tuesday, hitting $89.29. 1,073,091 shares of the company's stock were exchanged, compared to its average volume of 751,585. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of -82.12 and a beta of 0.54. The firm has a fifty day moving average of $66.60 and a two-hundred day moving average of $66.16. The company has a quick ratio of 3.17, a current ratio of 3.20 and a debt-to-equity ratio of 0.21. Tarsus Pharmaceuticals has a twelve month low of $48.20 and a twelve month high of $91.53.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last released its quarterly earnings data 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 business had revenue of $173.91 million during the quarter, compared to analyst estimates of $169.65 million. Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%. On average, sell-side analysts forecast that Tarsus Pharmaceuticals will post -2.06 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director William Link, PhD sold 12,500 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $62.12, for a total transaction of $776,500.00. Following the completion of the transaction, the director owned 106,786 shares of the company's stock, valued at approximately $6,633,546.32. The trade was a 10.48% decrease in their position. The transaction was disclosed in a document filed 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 Azamian sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total value of $615,500.00. Following the sale, the chief executive officer owned 847,991 shares of the company's stock, valued at approximately $52,193,846.05. The trade was a 1.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 51,428 shares of company stock valued at $3,350,810 in the last ninety days. Company insiders own 9.64% of the company's stock.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Tarsus Pharmaceuticals in the 2nd quarter valued at $242,705,000. RTW Investments LP raised its position in shares of Tarsus Pharmaceuticals by 5.0% during the fourth 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 raised its position in shares of Tarsus Pharmaceuticals by 71.4% during the third 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 last quarter. Jupiter Topco LLC bought a new stake in shares of Tarsus Pharmaceuticals in the second quarter valued at about $176,834,000. Finally, California State Teachers Retirement System lifted its stake in shares of Tarsus Pharmaceuticals by 5,971.9% in the second 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. Institutional investors own 90.01% of the company's stock.

Tarsus Pharmaceuticals Company Profile

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.

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