Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Up 5.8% After Analyst Upgrade

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report)'s stock price traded up 5.8% during trading on Friday after Barclays raised their price target on the stock from $50.00 to $60.00. Barclays currently has an overweight rating on the stock. Tarsus Pharmaceuticals traded as high as $36.13 and last traded at $36.03. 236,654 shares were traded during trading, a decline of 67% from the average session volume of 717,734 shares. The stock had previously closed at $34.04.

Several other brokerages have also issued reports on TARS. Oppenheimer lifted their price target on shares of Tarsus Pharmaceuticals from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Thursday. The Goldman Sachs Group upped their price target 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 upped their target price 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 lifted their price target on Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Tarsus Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.88.

Insider Transactions at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, 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 of the company's stock, valued at approximately $809,553.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Seshadri Neervannan sold 4,879 shares of the company'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 $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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Bobak R. Azamian sold 10,415 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $30.60, for a total value 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 disclosure for this sale can be found here. Insiders sold 24,496 shares of company stock worth $749,578 over the last ninety days. 11.54% of the stock is owned by insiders.

Institutional Trading of Tarsus Pharmaceuticals

Large investors have recently modified their holdings of the stock. Ieq Capital LLC acquired a new stake in Tarsus Pharmaceuticals in the third quarter valued at approximately $193,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Tarsus Pharmaceuticals during the 3rd quarter valued at $723,000. Allspring Global Investments Holdings LLC raised 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 worth $4,371,000 after buying an additional 237,445 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in shares of Tarsus Pharmaceuticals in the third quarter valued at $7,093,000. Finally, Swiss National Bank grew its holdings in shares of Tarsus Pharmaceuticals by 41.5% during the third quarter. Swiss National Bank now owns 49,433 shares of the company's stock valued at $878,000 after buying an additional 14,500 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Tarsus Pharmaceuticals Trading Up 8.7 %

The company has a market capitalization of $1.40 billion, a P/E ratio of -7.97 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. The firm's 50-day moving average price is $34.24 and its 200 day moving average price is $26.14.

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

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.