Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Up 6.1%

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report)'s stock price rose 6.1% during trading on Thursday . The stock traded as high as $38.08 and last traded at $38.06. Approximately 425,014 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 763,963 shares. The stock had previously closed at $35.88.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TARS shares. The Goldman Sachs Group upped their price objective on Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the stock a "neutral" rating in a research report on Thursday, February 29th. Lifesci Capital restated an "outperform" rating on shares of Tarsus Pharmaceuticals in a research report on Tuesday, December 26th. Jefferies Financial Group lifted their price target on shares of Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, March 6th. HC Wainwright raised 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, Barclays raised their price target on Tarsus Pharmaceuticals from $40.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Tarsus Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $48.38.

Tarsus Pharmaceuticals Trading Up 6.7 %

The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -8.25 and a beta of 1.05. The company has a quick ratio of 6.85, a current ratio of 6.93 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average of $33.29 and a two-hundred day moving average of $23.59.

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 business had revenue of $13.08 million during the quarter, compared to analysts' expectations of $4.63 million. During the same period in the prior year, the firm posted ($0.49) EPS. On average, research analysts expect that Tarsus Pharmaceuticals, Inc. will post -4.59 EPS for the current year.

Insiders Place Their Bets

In other news, insider Aziz Mottiwala sold 4,766 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 $145,839.60. Following the completion of the sale, the insider now directly owns 54,075 shares in the company, valued at approximately $1,654,695. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Aziz Mottiwala sold 4,766 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $30.60, for a total value of $145,839.60. Following the sale, the insider now directly owns 54,075 shares of the company's stock, valued at approximately $1,654,695. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Bobak R. Azamian sold 10,415 shares of the 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 $318,699.00. Following the completion of the sale, the chief executive officer now owns 26,456 shares in the company, valued at $809,553.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,496 shares of company stock worth $749,578. 11.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several hedge funds have recently modified their holdings of TARS. RTW Investments LP grew its holdings in Tarsus Pharmaceuticals by 9.4% in the 4th quarter. RTW Investments LP now owns 3,152,341 shares of the company's stock valued at $63,835,000 after buying an additional 271,640 shares during the period. BlackRock Inc. grew its holdings in Tarsus Pharmaceuticals by 51.0% in the second quarter. BlackRock Inc. now owns 2,199,753 shares of the company's stock valued at $39,750,000 after purchasing an additional 742,493 shares during the period. Vanguard Group Inc. increased its position in Tarsus Pharmaceuticals by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 1,595,501 shares of the company's stock worth $32,309,000 after purchasing an additional 43,699 shares during the last quarter. TFG Asset Management GP Ltd raised its stake in Tarsus Pharmaceuticals by 30.1% during the fourth quarter. TFG Asset Management GP Ltd now owns 800,000 shares of the company's stock worth $16,200,000 after purchasing an additional 185,000 shares during the period. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of Tarsus Pharmaceuticals in the 3rd quarter valued at $13,399,000. 90.01% of the stock is owned by institutional investors and hedge funds.

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.