Analysts Set Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Price Target at $63.67

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) have been assigned a consensus rating of "Buy" from the seven analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $63.67.

A number of brokerages have issued reports on TARS. Oppenheimer raised their price objective on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, January 22nd. Jefferies Financial Group boosted their price objective on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Barclays cut their price objective on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Guggenheim reaffirmed a "buy" rating and issued a $78.00 price objective (up from $75.00) on shares of Tarsus Pharmaceuticals in a research report on Monday, February 24th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $73.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th.

Tarsus Pharmaceuticals Stock Performance

Shares of Tarsus Pharmaceuticals stock traded down $1.05 during midday trading on Monday, hitting $50.87. The company had a trading volume of 422,919 shares, compared to its average volume of 692,580. Tarsus Pharmaceuticals has a 1-year low of $20.08 and a 1-year high of $57.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. The business's 50 day simple moving average is $47.73 and its two-hundred day simple moving average is $48.57. The stock has a market cap of $1.95 billion, a PE ratio of -13.31 and a beta of 0.94.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. The company had revenue of $66.41 million during the quarter, compared to analyst estimates of $58.80 million. As a group, equities analysts predict that Tarsus Pharmaceuticals will post -3.17 EPS for the current fiscal year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, General Counsel Bryan Wahl sold 3,341 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $154,654.89. Following the transaction, the general counsel now owns 58,057 shares in the company, valued at approximately $2,687,458.53. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bobak R. Azamian sold 8,534 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $50.11, for a total value of $427,638.74. Following the transaction, the chief executive officer now owns 53,635 shares in the company, valued at approximately $2,687,649.85. This trade represents a 13.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,542 shares of company stock worth $1,581,173 over the last 90 days. Company insiders own 8.25% of the company's stock.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in shares of Tarsus Pharmaceuticals by 345.9% in the 3rd quarter. Barclays PLC now owns 98,663 shares of the company's stock valued at $3,246,000 after purchasing an additional 76,538 shares in the last quarter. Franklin Resources Inc. raised its position in Tarsus Pharmaceuticals by 9.3% during the 3rd quarter. Franklin Resources Inc. now owns 12,164 shares of the company's stock worth $444,000 after purchasing an additional 1,033 shares during the last quarter. Exome Asset Management LLC bought a new stake in shares of Tarsus Pharmaceuticals during the 3rd quarter valued at about $1,500,000. Lord Abbett & CO. LLC boosted its holdings in shares of Tarsus Pharmaceuticals by 28.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 594,876 shares of the company's stock worth $19,565,000 after buying an additional 131,636 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Tarsus Pharmaceuticals by 2,088.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company's stock worth $14,477,000 after buying an additional 420,057 shares during the period. Institutional investors own 90.01% of the company's stock.

About Tarsus Pharmaceuticals

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.