Tarsus Pharmaceuticals (NASDAQ:TARS) Reaches New 12-Month High - Still a Buy?

Key Points

• Tarsus Pharmaceuticals reached a new 52-week high, trading at $59.63 with a market cap of $2.48 billion, indicating strong market interest.
• Despite the stock's positive performance, the company reported a loss of ($0.48) earnings per share in the last quarter, missing estimates by ($0.15).
• Wall Street analysts have mixed opinions, with five firms rating it as a "Buy" and one as a "Hold," and an average price target of $66.67.

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $59.18 and last traded at $59.63, with a volume of 76978 shares traded. The stock had previously closed at $58.58.

Analyst Ratings Changes

A number of research firms recently issued reports on TARS. HC Wainwright upgraded shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price objective for the company in a research report on Tuesday, May 27th. Oppenheimer started coverage on Tarsus Pharmaceuticals in a research note on Monday, June 2nd. They issued an "outperform" rating and a $75.00 price target for the company. Finally, Wall Street Zen cut Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Tarsus Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $66.67.

Tarsus Pharmaceuticals Stock Performance

The firm has a market capitalization of $2.43 billion, a P/E ratio of -24.73 and a beta of 0.81. The company has a current ratio of 5.26, a quick ratio of 5.21 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average of $47.31 and a 200-day moving average of $46.25.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.48) earnings per share (EPS) 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 company had revenue of $102.66 million for the quarter, compared to the consensus estimate of $95.81 million. On average, equities analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, CEO Bobak R. Azamian sold 6,000 shares of Tarsus Pharmaceuticals stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the transaction, the chief executive officer directly owned 818,106 shares of the company's stock, valued at approximately $40,905,300. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.97% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its position in shares of Tarsus Pharmaceuticals by 42.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 46,777 shares of the company's stock worth $2,590,000 after purchasing an additional 13,848 shares in the last quarter. Northern Trust Corp boosted its position in shares of Tarsus Pharmaceuticals by 12.6% during the 4th quarter. Northern Trust Corp now owns 357,616 shares of the company's stock worth $19,801,000 after purchasing an additional 40,061 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Tarsus Pharmaceuticals by 21.2% in the fourth quarter. Ameriprise Financial Inc. now owns 47,685 shares of the company's stock valued at $2,640,000 after acquiring an additional 8,336 shares during the period. BNP Paribas Financial Markets acquired a new stake in Tarsus Pharmaceuticals in the fourth quarter valued at approximately $268,000. Finally, Bank of America Corp DE grew its stake in Tarsus Pharmaceuticals by 44.7% in the fourth quarter. Bank of America Corp DE now owns 337,856 shares of the company's stock valued at $18,707,000 after acquiring an additional 104,388 shares during the period. 90.01% of the stock is owned by institutional investors.

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.