Tarsus Pharmaceuticals (NASDAQ:TARS) Now Covered by Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of Tarsus Pharmaceuticals (NASDAQ:TARS - Free Report) in a research note issued to investors on Monday morning. The firm issued an outperform rating and a $75.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. Barclays decreased their price target on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Wall Street Zen cut Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. HC Wainwright upgraded Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price target for the company in a report on Tuesday, May 27th. Jefferies Financial Group upped their price target on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Finally, The Goldman Sachs Group upped their price target on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $66.67.

Tarsus Pharmaceuticals Trading Up 2.6%

Shares of NASDAQ:TARS traded up $1.10 during trading on Monday, reaching $43.75. 499,437 shares of the stock were exchanged, compared to its average volume of 669,027. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. Tarsus Pharmaceuticals has a 12-month low of $20.08 and a 12-month high of $57.28. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -11.48 and a beta of 0.83. The firm's 50-day moving average price is $46.47 and its 200 day moving average price is $48.87.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.64) EPS for the quarter, topping analysts' consensus estimates of ($0.69) by $0.05. The company had revenue of $78.34 million for the quarter, compared to analysts' expectations of $72.50 million. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. On average, sell-side analysts anticipate that Tarsus Pharmaceuticals will post -3.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In related news, General Counsel Bryan Wahl sold 3,341 shares of the company's 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 sale, the general counsel now directly owns 58,057 shares of the company's stock, valued at approximately $2,687,458.53. This represents a 5.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dianne C. Whitfield sold 2,137 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total value of $107,085.07. Following the sale, the insider now directly owns 46,355 shares in the company, valued at approximately $2,322,849.05. This represents a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,542 shares of company stock valued at $1,581,173 in the last three months. Corporate insiders own 8.97% of the company's stock.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in TARS. Toronto Dominion Bank acquired a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter valued at approximately $105,714,000. Driehaus Capital Management LLC acquired a new stake in Tarsus Pharmaceuticals in the first quarter worth $36,876,000. Lord Abbett & CO. LLC increased its position in Tarsus Pharmaceuticals by 115.2% in the fourth 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. acquired a new stake in Tarsus Pharmaceuticals in the first quarter worth $26,199,000. Finally, Millennium Management LLC increased its position in Tarsus Pharmaceuticals by 189.4% in the fourth 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. 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.