Tarsus Pharmaceuticals' (TARS) "Buy" Rating Reiterated at HC Wainwright

Key Points

• HC Wainwright reaffirmed its "buy" rating on Tarsus Pharmaceuticals and kept an $88 price target, implying about 29.9% upside from the current share price.
• The stock has a broader analyst consensus of Moderate Buy, with a MarketBeat average price target of $90.67; other recent ratings have ranged from buy to sell.
• Tarsus recently beat earnings expectations, reporting a smaller-than-expected loss and stronger-than-expected revenue, while insiders have also been selling shares in recent weeks.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They presently have a $88.00 target price on the stock. HC Wainwright's target price would suggest a potential upside of 29.93% from the company's current price.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen upgraded Tarsus Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Sunday, June 28th. Weiss Ratings reissued a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a research note on Tuesday, April 21st. Lifesci Capital upgraded Tarsus Pharmaceuticals to a "strong-buy" rating in a report on Monday, March 16th. Finally, Oppenheimer started coverage on Tarsus Pharmaceuticals in a research note on Friday, April 24th. They issued an "outperform" rating and a $98.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.67.

Tarsus Pharmaceuticals Price Performance

TARS stock opened at $67.73 on Thursday. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of -59.41 and a beta of 0.50. The firm's 50-day moving average price is $62.58 and its two-hundred day moving average price is $67.90. The company has a current ratio of 3.74, a quick ratio of 3.71 and a debt-to-equity ratio of 0.21. Tarsus Pharmaceuticals has a 12-month low of $38.51 and a 12-month high of $85.25.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.24. The company had revenue of $162.05 million during the quarter, compared to analyst estimates of $149.60 million. Tarsus Pharmaceuticals had a negative net margin of 9.02% and a negative return on equity of 14.19%. As a group, equities analysts predict that Tarsus Pharmaceuticals will post -0.59 earnings per share for the current year.

Insider Activity at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, Director Katherine Goodrich sold 2,954 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $62.08, for a total transaction of $183,384.32. Following the sale, the director directly owned 2,233 shares of the company's stock, valued at approximately $138,624.64. The trade was a 56.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey S. Farrow sold 14,396 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total value of $877,436.20. Following the transaction, the insider owned 56,801 shares in the company, valued at $3,462,020.95. This trade represents a 20.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 39,850 shares of company stock valued at $2,452,821. 9.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in Tarsus Pharmaceuticals by 139.2% in the first quarter. Parallel Advisors LLC now owns 500 shares of the company's stock worth $35,000 after purchasing an additional 291 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Tarsus Pharmaceuticals by 367.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 710 shares of the company's stock worth $50,000 after buying an additional 558 shares during the period. Comerica Bank grew its position in shares of Tarsus Pharmaceuticals by 470.0% in the 4th quarter. Comerica Bank now owns 855 shares of the company's stock worth $70,000 after buying an additional 705 shares during the period. Truvestments Capital LLC increased its stake in shares of Tarsus Pharmaceuticals by 106.1% in the 4th quarter. Truvestments Capital LLC now owns 909 shares of the company's stock worth $74,000 after acquiring an additional 468 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Tarsus Pharmaceuticals by 15.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company's stock worth $105,000 after acquiring an additional 172 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company's research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus's lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.

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