Tarsus Pharmaceuticals (NASDAQ:TARS) Given New $60.00 Price Target at Barclays

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) had its target price boosted by investment analysts at Barclays from $50.00 to $60.00 in a research report issued on Friday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price objective suggests a potential upside of 62.16% from the company's previous close.

Other analysts also recently issued research reports about the stock. Oppenheimer raised their price objective on shares of Tarsus Pharmaceuticals from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday. The Goldman Sachs Group raised their price objective on shares of Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, February 29th. HC Wainwright lifted their price objective on Tarsus Pharmaceuticals from $50.00 to $57.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th. Finally, Jefferies Financial Group raised their price target on Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the stock a "buy" rating in a report on Wednesday, March 6th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.88.

Tarsus Pharmaceuticals Price Performance

Shares of Tarsus Pharmaceuticals stock traded up $2.96 during midday trading on Friday, reaching $37.00. The company had a trading volume of 811,275 shares, compared to its average volume of 724,322. Tarsus Pharmaceuticals has a 1-year low of $12.57 and a 1-year high of $42.50. The company has a current ratio of 6.93, a quick ratio of 6.85 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -7.82 and a beta of 1.10. The stock has a fifty day simple moving average of $34.24 and a 200 day simple moving average of $26.14.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($1.31) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.06. The company had revenue of $13.08 million for the quarter, compared to analyst estimates of $4.63 million. During the same period last year, the company posted ($0.49) earnings per share. As a group, equities research analysts forecast that Tarsus Pharmaceuticals will post -4.25 earnings per share for the current year.

Insider Transactions at Tarsus Pharmaceuticals

In other news, COO Seshadri Neervannan sold 4,879 shares of Tarsus Pharmaceuticals stock in a transaction on Monday, March 18th. The shares were sold at an average price of $30.60, for a total transaction of $149,297.40. Following the completion of the sale, the chief operating officer now directly owns 64,767 shares of the company's stock, valued at approximately $1,981,870.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 10,415 shares of the business's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $30.60, for a total transaction of $318,699.00. Following the completion of the sale, the chief executive officer now owns 26,456 shares of the company's stock, valued at $809,553.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Seshadri Neervannan sold 4,879 shares of Tarsus Pharmaceuticals 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 $149,297.40. Following the sale, the chief operating officer now owns 64,767 shares in the company, valued at approximately $1,981,870.20. The disclosure for this sale can be found here. Insiders sold 24,496 shares of company stock valued at $749,578 over the last 90 days. Corporate insiders own 11.54% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates purchased a new position in Tarsus Pharmaceuticals during the 3rd quarter valued at about $180,000. Raymond James Financial Services Advisors Inc. grew its position in Tarsus Pharmaceuticals by 81.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 30,657 shares of the company's stock worth $545,000 after acquiring an additional 13,801 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Tarsus Pharmaceuticals by 65.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,306 shares of the company's stock worth $94,000 after purchasing an additional 2,092 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Tarsus Pharmaceuticals during the third quarter worth approximately $198,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Tarsus Pharmaceuticals by 2,784.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 245,972 shares of the company's stock valued at $4,371,000 after purchasing an additional 237,445 shares during the period. 90.01% of the stock is currently owned by institutional investors.

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.

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