Tarsus Pharmaceuticals (NASDAQ:TARS) Hits New 52-Week High - Should You Buy?

Key Points

• Tarsus Pharmaceuticals reached a new 52-week high of $85.75, with shares last trading at $85.6450 versus a prior close of $83.21.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $90.50, although ratings range from Strong Buy to Sell.
• The company exceeded quarterly revenue expectations but reported an adjusted loss of $0.43 per share, missing the projected loss of $0.19; analysts expect a full-year loss of $2.06 per share.

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $85.75 and last traded at $85.6450, with a volume of 298739 shares. The stock had previously closed at $83.21.

Wall Street Analyst Weigh In

TARS has been the subject of a number of research analyst reports. Oppenheimer lifted their price objective on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. Guggenheim reduced their target price on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a "buy" rating for the company in a report on Tuesday, July 21st. Weiss Ratings reissued a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Wall Street Zen lowered Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Finally, HC Wainwright reissued a "buy" rating and set a $88.00 price target on shares of Tarsus Pharmaceuticals in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Tarsus Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $90.50.

Tarsus Pharmaceuticals Stock Performance

The stock's 50-day simple moving average is $65.45 and its 200-day simple moving average is $65.75. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of -79.15 and a beta of 0.54. The company has a current ratio of 3.20, a quick ratio of 3.17 and a debt-to-equity ratio of 0.21.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its quarterly 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%. Analysts forecast that Tarsus Pharmaceuticals, Inc. will post -2.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeffrey S. Farrow sold 14,396 shares of the business's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total transaction of $877,436.20. Following the completion of the transaction, the insider owned 56,801 shares of the company's stock, valued at approximately $3,462,020.95. The trade was a 20.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Elizabeth Lin sold 5,387 shares of the company's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $80.00, for a total value of $430,960.00. Following the sale, the insider owned 13,320 shares of the company's stock, valued at approximately $1,065,600. This represents a 28.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 51,428 shares of company stock worth $3,350,810. 9.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in TARS. BlackRock Inc. acquired a new stake in Tarsus Pharmaceuticals in the second quarter valued at approximately $242,705,000. Jupiter Topco LLC acquired a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at $176,834,000. California State Teachers Retirement System boosted its holdings in shares of Tarsus Pharmaceuticals by 5,971.9% during the 2nd quarter. California State Teachers Retirement System now owns 2,288,813 shares of the company's stock valued at $144,058,000 after acquiring an additional 2,251,118 shares in the last quarter. Deep Track Capital LP grew its position in Tarsus Pharmaceuticals by 71.4% during the 3rd quarter. Deep Track Capital LP now owns 3,000,000 shares of the company's stock worth $178,290,000 after acquiring an additional 1,250,000 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in Tarsus Pharmaceuticals in the 2nd quarter worth about $75,099,000. 90.01% of the stock is owned by institutional investors.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company's research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus's lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.

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