Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• Tarsus Pharmaceuticals has received a consensus rating of "Buy" from seven brokerages, with an average 1-year price target of $66.67.
• The company's lead product candidate, XDEMVY, is aimed at treating blepharitis caused by Demodex mites.
• Recent institutional investments include Toronto Dominion Bank acquiring a position worth $105.7 million in Tarsus Pharmaceuticals.

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) has been assigned an average rating of "Buy" from the seven brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $66.6667.

TARS has been the subject of a number of research reports. Oppenheimer initiated coverage on shares of Tarsus Pharmaceuticals in a research note on Monday, June 2nd. They set an "outperform" rating and a $75.00 target price for the company. HC Wainwright upgraded shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 target price for the company in a research note on Tuesday, May 27th. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group boosted their price objective on shares of Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Finally, Guggenheim boosted their price objective on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, May 2nd.

Tarsus Pharmaceuticals Price Performance

Shares of TARS opened at $41.15 on Wednesday. The firm has a market cap of $1.73 billion, a PE ratio of -15.07 and a beta of 0.79. The company has a current ratio of 5.57, a quick ratio of 5.54 and a debt-to-equity ratio of 0.21. The firm has a fifty day simple moving average of $41.36 and a two-hundred day simple moving average of $45.71. Tarsus Pharmaceuticals has a 1-year low of $21.44 and a 1-year high of $57.28.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. Toronto Dominion Bank bought a new position in Tarsus Pharmaceuticals in the 4th quarter worth $105,714,000. Driehaus Capital Management LLC bought a new position in Tarsus Pharmaceuticals in the 1st quarter worth $36,876,000. Lord Abbett & CO. LLC boosted its holdings in Tarsus Pharmaceuticals by 115.2% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company's stock worth $70,873,000 after buying an additional 685,111 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in Tarsus Pharmaceuticals in the 1st quarter worth $26,199,000. Finally, Millennium Management LLC boosted its holdings in Tarsus Pharmaceuticals by 189.4% in the 4th quarter. Millennium Management LLC now owns 644,010 shares of the company's stock worth $35,659,000 after buying an additional 421,495 shares during the period. Institutional investors own 90.01% of the company's stock.

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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