Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Up - Time to Buy?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $41.40, but opened at $43.26. Tarsus Pharmaceuticals shares last traded at $44.27, with a volume of 134,010 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently commented on TARS. Wall Street Zen downgraded Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Guggenheim upped their target price on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. HC Wainwright raised Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 target price on the stock in a research report on Tuesday, May 27th. Oppenheimer began coverage on Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They set an "outperform" rating and a $75.00 target price on the stock. Finally, The Goldman Sachs Group raised their target price 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. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $66.67.

Tarsus Pharmaceuticals Trading Up 4.5%

The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -15.84 and a beta of 0.80. The company has a quick ratio of 5.54, a current ratio of 5.57 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $41.85 and a 200 day moving average price of $46.62.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.05. The firm had revenue of $78.34 million for the quarter, compared to the consensus estimate of $72.50 million. Tarsus Pharmaceuticals had a negative return on equity of 39.72% and a negative net margin of 44.91%. As a group, research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TARS. Crowley Wealth Management Inc. bought a new stake in Tarsus Pharmaceuticals in the 4th quarter worth $25,000. GF Fund Management CO. LTD. purchased a new position in shares of Tarsus Pharmaceuticals in the fourth quarter worth $44,000. Amalgamated Bank lifted its position in Tarsus Pharmaceuticals by 30.1% during the first 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. Quarry LP purchased a new position in Tarsus Pharmaceuticals in the 4th quarter worth about $166,000. Finally, AlphaQuest LLC purchased a new position in Tarsus Pharmaceuticals in the 1st quarter worth about $189,000. 90.01% of the stock is currently owned by hedge funds and other 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.