Tarsus Pharmaceuticals (NASDAQ:TARS) PT Raised to $61.00 at Oppenheimer

Tarsus Pharmaceuticals (NASDAQ:TARS - Free Report) had its price objective upped by Oppenheimer from $59.00 to $61.00 in a report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts also recently weighed in on the stock. HC Wainwright boosted their price target on shares of Tarsus Pharmaceuticals from $50.00 to $57.00 and gave the stock a buy rating in a research note on Wednesday, February 28th. Jefferies Financial Group raised their target price on shares of Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the stock a buy rating in a report on Wednesday, March 6th. The Goldman Sachs Group upped their price target on shares of Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the company a neutral rating in a report on Thursday, February 29th. Finally, Barclays raised their price target on shares of Tarsus Pharmaceuticals from $40.00 to $50.00 and gave the stock an overweight rating in a report on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $48.63.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ TARS traded down $3.31 during mid-day trading on Thursday, reaching $34.04. 1,670,545 shares of the company were exchanged, compared to its average volume of 723,356. Tarsus Pharmaceuticals has a 52 week low of $12.57 and a 52 week high of $42.50. The company's 50 day moving average price is $34.32 and its 200 day moving average price is $26.09. The stock has a market capitalization of $1.29 billion, a PE ratio of -7.79 and a beta of 1.10. The company has a quick ratio of 6.85, a current ratio of 6.93 and a debt-to-equity ratio of 0.15.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($1.31) earnings per share for the quarter, beating analysts' consensus estimates of ($1.37) by $0.06. The firm had revenue of $13.08 million for the quarter, compared to analysts' expectations of $4.63 million. During the same period in the prior year, the business posted ($0.49) earnings per share. Sell-side analysts forecast that Tarsus Pharmaceuticals will post -4.25 earnings per share for the current fiscal year.

Insider Transactions at Tarsus Pharmaceuticals

In related news, General Counsel Bryan Wahl sold 4,436 shares of the firm's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $30.60, for a total transaction of $135,741.60. Following the completion of the sale, the general counsel now owns 40,951 shares of the company's stock, valued at $1,253,100.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Aziz Mottiwala sold 4,766 shares of the company's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $30.60, for a total transaction of $145,839.60. Following the completion of the sale, the insider now owns 54,075 shares in the company, valued at $1,654,695. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Bryan Wahl sold 4,436 shares of the firm's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $30.60, for a total value of $135,741.60. Following the completion of the transaction, the general counsel now directly owns 40,951 shares in the company, valued at $1,253,100.60. The disclosure for this sale can be found here. Insiders sold a total of 24,496 shares of company stock valued at $749,578 in the last quarter. 11.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several institutional investors have recently made changes to their positions in the business. Jennison Associates LLC bought a new position in shares of Tarsus Pharmaceuticals in the first quarter worth about $48,380,000. Deerfield Management Company L.P. Series C purchased a new position in Tarsus Pharmaceuticals during the third quarter valued at approximately $13,399,000. Artisan Partners Limited Partnership bought a new position in shares of Tarsus Pharmaceuticals in the third quarter worth approximately $7,093,000. RTW Investments LP increased its stake in shares of Tarsus Pharmaceuticals by 13.1% in the third quarter. RTW Investments LP now owns 2,880,701 shares of the company's stock worth $51,190,000 after purchasing an additional 332,576 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Tarsus Pharmaceuticals by 25.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,551,802 shares of the company's stock valued at $27,576,000 after purchasing an additional 316,128 shares during the period. Institutional investors own 90.01% of the company's stock.

Tarsus Pharmaceuticals Company Profile

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.