Tarsus Pharmaceuticals (NASDAQ:TARS) Stock Price Up 13.4% - What's Next?

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.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TARS shares. Wall Street Zen downgraded Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Oppenheimer initiated coverage on shares of Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They set an "outperform" rating and a $75.00 price objective for the company. HC Wainwright raised Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price objective for the company in a report on Tuesday, May 27th. The Goldman Sachs Group upped their price objective on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Finally, Guggenheim raised their price objective on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tarsus Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.67.

Tarsus Pharmaceuticals Price Performance

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 stock's 50-day moving average price is $41.36 and its 200 day moving average price is $45.69. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -17.56 and a beta of 0.79.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.15). The firm had revenue of $102.66 million during the quarter, compared to analyst estimates of $95.81 million. Tarsus Pharmaceuticals had a negative net margin of 44.91% and a negative return on equity of 39.72%. Equities research analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new position in shares of Tarsus Pharmaceuticals during the 4th quarter worth approximately $44,000. Amalgamated Bank increased its stake in shares of Tarsus Pharmaceuticals by 30.1% in the first quarter. Amalgamated Bank now owns 1,274 shares of the company's stock valued at $65,000 after buying an additional 295 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Tarsus Pharmaceuticals by 26.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,623 shares of the company's stock worth $66,000 after purchasing an additional 339 shares during the last quarter. Quarry LP bought a new stake in Tarsus Pharmaceuticals in the fourth quarter valued at $166,000. Finally, AlphaQuest LLC acquired a new stake in Tarsus Pharmaceuticals in the 1st quarter valued at $189,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.