Tarsus Pharmaceuticals (NASDAQ:TARS) Stock Price Up 6.3%

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s share price rose 6.3% on Thursday . The company traded as high as $36.92 and last traded at $36.76. Approximately 234,757 shares were traded during trading, a decline of 70% from the average daily volume of 769,783 shares. The stock had previously closed at $34.57.

Analyst Upgrades and Downgrades

TARS has been the subject of a number of analyst reports. Jefferies Financial Group upped their target price on Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. HC Wainwright upped their target price on Tarsus Pharmaceuticals from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Oppenheimer reiterated an “outperform” rating and set a $59.00 price objective (up previously from $55.00) on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 28th. The Goldman Sachs Group increased their price objective on Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Finally, Barclays increased their price objective on Tarsus Pharmaceuticals from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.38.

Tarsus Pharmaceuticals Price Performance

The firm has a 50-day simple moving average of $31.13 and a two-hundred day simple moving average of $22.14. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -7.83 and a beta of 1.07. The company has a current ratio of 6.93, a quick ratio of 6.85 and a debt-to-equity ratio of 0.15.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its earnings results on Tuesday, February 27th. The company reported ($1.31) EPS for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.06. The business had revenue of $13.08 million for the quarter, compared to analyst estimates of $4.63 million. During the same quarter last year, the business earned ($0.49) earnings per share. As a group, analysts predict that Tarsus Pharmaceuticals, Inc. will post -4.59 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Seshadri Neervannan sold 4,879 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $30.60, for a total transaction of $149,297.40. Following the sale, the chief operating officer now directly owns 64,767 shares in the company, valued at approximately $1,981,870.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Seshadri Neervannan sold 4,879 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $30.60, for a total value of $149,297.40. Following the transaction, the chief operating officer now directly owns 64,767 shares of the company’s stock, valued at approximately $1,981,870.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Bobak R. Azamian sold 10,415 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $30.60, for a total transaction of $318,699.00. Following the completion of the transaction, the chief executive officer now directly owns 26,456 shares in the company, valued at $809,553.60. The disclosure for this sale can be found here. Insiders have sold 24,496 shares of company stock worth $749,578 in the last ninety days. Company insiders own 11.54% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TARS. Deerfield Management Company L.P. Series C purchased a new position in Tarsus Pharmaceuticals in the 3rd quarter worth approximately $13,399,000. BlackRock Inc. raised its position in shares of Tarsus Pharmaceuticals by 51.0% during the 2nd quarter. BlackRock Inc. now owns 2,199,753 shares of the company’s stock valued at $39,750,000 after buying an additional 742,493 shares during the period. Artisan Partners Limited Partnership purchased a new stake in shares of Tarsus Pharmaceuticals during the 3rd quarter valued at approximately $7,093,000. RTW Investments LP raised its position in shares of Tarsus Pharmaceuticals by 13.1% during the 3rd quarter. RTW Investments LP now owns 2,880,701 shares of the company’s stock valued at $51,190,000 after buying an additional 332,576 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Tarsus Pharmaceuticals by 25.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,551,802 shares of the company’s stock valued at $27,576,000 after buying an additional 316,128 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

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.