Tarsus Pharmaceuticals (NASDAQ:TARS) Upgraded to "Buy" at HC Wainwright

HC Wainwright upgraded shares of Tarsus Pharmaceuticals (NASDAQ:TARS - Free Report) to a buy rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The firm currently has $72.00 price target on the stock.

TARS has been the subject of several other reports. Barclays decreased their target price on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group upped their target price on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Jefferies Financial Group increased their price target on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Guggenheim upped their price objective on shares of 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 issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Tarsus Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $66.17.

Tarsus Pharmaceuticals Stock Up 0.4%

TARS stock traded up $0.17 during midday trading on Tuesday, reaching $42.05. The company had a trading volume of 748,538 shares, compared to its average volume of 702,651. The company has a 50 day moving average of $47.28 and a two-hundred day moving average of $48.99. The company has a market capitalization of $1.77 billion, a P/E ratio of -11.04 and a beta of 0.94. Tarsus Pharmaceuticals has a 1 year low of $20.08 and a 1 year high of $57.28. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.64) earnings per share for the quarter, topping analysts' consensus estimates of ($0.69) by $0.05. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. The business had revenue of $78.34 million for the quarter, compared to the consensus estimate of $72.50 million. On average, equities research analysts expect that Tarsus Pharmaceuticals will post -3.17 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Dianne C. Whitfield sold 2,137 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $107,085.07. Following the completion of the transaction, the insider now owns 46,355 shares of the company's stock, valued at approximately $2,322,849.05. This represents a 4.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bobak R. Azamian sold 8,534 shares of Tarsus Pharmaceuticals stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $50.11, for a total value of $427,638.74. Following the sale, the chief executive officer now directly owns 53,635 shares in the company, valued at approximately $2,687,649.85. This trade represents a 13.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,542 shares of company stock valued at $1,581,173. 8.25% of the stock is owned by company insiders.

Institutional Trading of Tarsus Pharmaceuticals

A number of hedge funds have recently modified their holdings of the company. Toronto Dominion Bank bought a new position in Tarsus Pharmaceuticals in the fourth quarter worth $105,714,000. Driehaus Capital Management LLC bought a new position in shares of Tarsus Pharmaceuticals during the 1st quarter worth about $36,876,000. Lord Abbett & CO. LLC boosted its position in shares of Tarsus Pharmaceuticals by 115.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company's stock valued at $70,873,000 after acquiring an additional 685,111 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Tarsus Pharmaceuticals in the first quarter valued at about $26,199,000. Finally, Millennium Management LLC raised its position in Tarsus Pharmaceuticals by 189.4% in the fourth quarter. Millennium Management LLC now owns 644,010 shares of the company's stock worth $35,659,000 after purchasing an additional 421,495 shares in the last quarter. Institutional investors 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.