Tarsus Pharmaceuticals (NASDAQ:TARS) Trading 13.4% Higher - Time to Buy?

Key Points

• Tarsus Pharmaceuticals' share price increased by 13.4% during mid-day trading on Thursday, reaching a last price of $47.23, despite a decline in trading volume.
• Equities research analysts have mixed ratings on Tarsus, with two hold ratings, five buy ratings, and one strong buy rating, leading to a consensus rating of "Moderate Buy" and a price target of $66.67.
• The company's recent earnings report showed a miss on EPS estimates at ($0.48), but revenues of $102.66 million exceeded expectations of $95.81 million.

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) rose 13.4% during mid-day trading on Thursday . The stock traded as high as $47.12 and last traded at $47.23. Approximately 450,822 shares traded hands during trading, a decline of 31% from the average daily volume of 649,889 shares. The stock had previously closed at $41.64.

Wall Street Analysts Forecast Growth

TARS has been the subject of several recent research reports. The Goldman Sachs Group lifted their target price on shares of Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Guggenheim boosted their price objective on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. HC Wainwright raised 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 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. Finally, Wall Street Zen cut shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $66.67.

Tarsus Pharmaceuticals Trading Up 4.6%

The stock's fifty day simple moving average is $41.67 and its 200-day simple moving average is $45.67. The firm has a market cap of $2.11 billion, a PE ratio of -21.49 and a beta of 0.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 5.26 and a quick ratio of 5.21.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last released its quarterly earnings data 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%. On average, sell-side analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Institutional Trading of Tarsus Pharmaceuticals

Several institutional investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. acquired a new position in Tarsus Pharmaceuticals in the 4th quarter valued at about $44,000. Amalgamated Bank raised 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 acquiring an additional 295 shares during the period. Mirae Asset Global Investments Co. Ltd. raised 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 acquiring an additional 339 shares during the period. Quarry LP purchased a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter valued at approximately $166,000. Finally, AlphaQuest LLC purchased a new stake in shares of Tarsus Pharmaceuticals in the 1st quarter valued at approximately $189,000. Institutional investors and hedge funds own 90.01% of the company's stock.

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.