Tarsus Pharmaceuticals (NASDAQ:TARS) Sets New 12-Month High - Time to 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.

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

Wall Street Analyst Weigh In

TARS has been the topic 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 on the stock. Wall Street Zen cut 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 stock a "neutral" rating in a research note on Monday, May 5th. Finally, HC Wainwright raised shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price objective on the stock in a research note on Tuesday, May 27th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $66.67.

Tarsus Pharmaceuticals Stock Up 0.2%

The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.21 and a current ratio of 5.26. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -25.17 and a beta of 0.81. The stock's fifty day moving average is $45.93 and its two-hundred day moving average is $46.01.

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

Insider Activity

In other news, CEO Bobak R. Azamian sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief executive officer owned 818,106 shares in the company, valued at $40,905,300. This trade represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Large investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. purchased a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter worth approximately $44,000. Amalgamated Bank boosted its holdings in Tarsus Pharmaceuticals by 30.1% in the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company's stock worth $65,000 after buying an additional 295 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 worth $66,000 after buying an additional 339 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Tarsus Pharmaceuticals by 220.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,045 shares of the company's stock worth $164,000 after buying an additional 2,782 shares during the period. Finally, Quarry LP boosted its holdings in Tarsus Pharmaceuticals by 20.0% in the 1st quarter. Quarry LP now owns 3,599 shares of the company's stock worth $185,000 after buying an additional 599 shares during the period. Hedge funds and other 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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