Tarsus Pharmaceuticals (NASDAQ:TARS) Sets New 12-Month High - Should You Buy?

Key Points

• Tarsus Pharmaceuticals' stock reached a new **52-week high** of $59.77, showing a significant increase from the previous closing price of $58.08.
• Analysts have upgraded Tarsus from a "strong sell" to a "hold" rating, with an average target price of **$66.67**, indicating positive market sentiment.
• The company reported a revenue of **$102.66 million** last quarter, exceeding expectations, despite a loss of **($0.48)** earnings per share.

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $59.77 and last traded at $59.35, with a volume of 90738 shares traded. The stock had previously closed at $58.08.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TARS shares. Zacks Research upgraded Tarsus Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Friday, September 5th. Oppenheimer began coverage on Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They set an "outperform" rating and a $75.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Tarsus Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $66.67.

Tarsus Pharmaceuticals Stock Up 2.2%

The company has a quick ratio of 5.21, a current ratio of 5.26 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $51.53 and a 200 day simple moving average of $47.25. The firm has a market capitalization of $2.50 billion, a P/E ratio of -25.49 and a beta of 0.81.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.15). Tarsus Pharmaceuticals had a negative return on equity of 32.36% and a negative net margin of 31.13%.The business had revenue of $102.66 million during the quarter, compared to analysts' expectations of $95.81 million. On average, equities analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, Director William J. Phd Link sold 27,116 shares of the business's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $57.00, for a total value of $1,545,612.00. Following the completion of the transaction, the director owned 143,332 shares in the company, valued at $8,169,924. The trade was a 15.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Bobak R. Azamian sold 6,000 shares of the company's stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $55.37, for a total value of $332,220.00. Following the sale, the chief executive officer owned 812,106 shares of the company's stock, valued at approximately $44,966,309.22. This trade represents a 0.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,116 shares of company stock valued at $2,177,832 in the last 90 days. Company insiders own 8.97% of the company's stock.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank lifted its stake in shares of Tarsus Pharmaceuticals by 30.1% in the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company's stock valued at $65,000 after purchasing an additional 295 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Tarsus Pharmaceuticals by 26.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,623 shares of the company's stock valued at $66,000 after purchasing an additional 339 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of Tarsus Pharmaceuticals by 779.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,778 shares of the company's stock valued at $113,000 after purchasing an additional 2,462 shares during the last quarter. Quarry LP lifted its stake in shares of Tarsus Pharmaceuticals by 20.0% in the 1st quarter. Quarry LP now owns 3,599 shares of the company's stock valued at $185,000 after purchasing an additional 599 shares during the last quarter. Finally, AlphaQuest LLC bought a new stake in shares of Tarsus Pharmaceuticals in the 1st quarter valued at approximately $189,000. 90.01% of the stock is owned by institutional investors.

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.

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