Tarsus Pharmaceuticals (NASDAQ:TARS) Upgraded to "Strong-Buy" at The Goldman Sachs Group

Key Points

• Goldman Sachs upgraded Tarsus Pharmaceuticals to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $100.86.
• Tarsus shares opened at $75.69, compared with a 52-week range of $53.89 to $91.53; the company reported quarterly revenue of $173.91 million but missed EPS estimates, posting a loss of $0.43 per share.
• Institutional ownership stands at 90.01%, with major investors including BlackRock and Jupiter Topco adding new positions, while company insiders sold 48,031 shares worth roughly $4.0 million in the last quarter.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) was upgraded by analysts at The Goldman Sachs Group to a "strong-buy" rating in a report issued on Thursday, Zacks reports.

Other equities research analysts also recently issued reports about the stock. HC Wainwright restated a "buy" rating and set a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. Oppenheimer increased their target price on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. Mizuho dropped their price target on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an "outperform" rating for the company in a report on Friday, July 31st. Finally, Jefferies Financial Group boosted their price target on Tarsus Pharmaceuticals from $88.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Tarsus Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $100.86.

Tarsus Pharmaceuticals Price Performance

NASDAQ:TARS opened at $75.69 on Thursday. Tarsus Pharmaceuticals has a one year low of $53.89 and a one year high of $91.53. The company has a market cap of $3.32 billion, a P/E ratio of -69.44 and a beta of 0.54. The firm's fifty day moving average price is $71.22 and its two-hundred day moving average price is $66.83. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.20 and a quick ratio of 3.17.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.24). The company had revenue of $173.91 million for the quarter, compared to analyst estimates of $169.65 million. Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%. Equities analysts expect that Tarsus Pharmaceuticals will post -2.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director William J. Phd Link sold 12,500 shares of the company's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $78.38, for a total transaction of $979,750.00. Following the completion of the sale, the director directly owned 94,487 shares in the company, valued at approximately $7,405,891.06. This represents a 11.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 stock was sold at an average price of $90.56, for a total transaction of $905,600.00. Following the sale, the chief executive officer directly owned 827,991 shares of the company's stock, valued at $74,982,864.96. This represents a 1.19% 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 have sold a total of 48,031 shares of company stock worth $4,004,227 in the last quarter. Corporate insiders own 9.64% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Tarsus Pharmaceuticals during the second quarter worth $242,705,000. Jupiter Topco LLC bought a new position in shares of Tarsus Pharmaceuticals in the 2nd quarter valued at $176,834,000. Janus Henderson Group PLC raised its holdings in shares of Tarsus Pharmaceuticals by 16.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,240,963 shares of the company's stock worth $157,223,000 after buying an additional 310,638 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Tarsus Pharmaceuticals by 13.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,280,194 shares of the company's stock worth $89,806,000 after buying an additional 152,464 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Tarsus Pharmaceuticals by 57.5% during the 1st quarter. Bank of America Corp DE now owns 1,194,377 shares of the company's stock worth $83,786,000 after buying an additional 436,271 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Tarsus Pharmaceuticals Company Profile

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.

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