Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Receives Average Recommendation of “Buy” from Analysts

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) has received an average recommendation of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $51.60.

Several brokerages recently issued reports on TARS. Oppenheimer reaffirmed an “outperform” rating and set a $63.00 target price (up from $61.00) on shares of Tarsus Pharmaceuticals in a research report on Friday, August 9th. William Blair raised Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th.

Tarsus Pharmaceuticals Stock Up 5.6 %

Shares of NASDAQ:TARS opened at $49.42 on Monday. The firm has a market cap of $1.88 billion, a P/E ratio of -11.03 and a beta of 1.00. The company has a quick ratio of 6.99, a current ratio of 7.03 and a debt-to-equity ratio of 0.28. Tarsus Pharmaceuticals has a 12-month low of $15.47 and a 12-month high of $51.59. The business has a fifty day simple moving average of $35.95 and a 200 day simple moving average of $32.00.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.98) by $0.10. The business had revenue of $40.81 million during the quarter, compared to analyst estimates of $31.30 million. Tarsus Pharmaceuticals had a negative return on equity of 63.99% and a negative net margin of 180.00%. During the same period last year, the company earned ($1.17) EPS. Analysts predict that Tarsus Pharmaceuticals will post -3.71 earnings per share for the current year.

Institutional Trading of Tarsus Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TARS. Quest Partners LLC bought a new stake in Tarsus Pharmaceuticals during the 2nd quarter worth approximately $61,000. Canada Pension Plan Investment Board bought a new position in shares of Tarsus Pharmaceuticals in the second quarter valued at approximately $114,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Tarsus Pharmaceuticals by 33.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company’s stock valued at $166,000 after acquiring an additional 1,530 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of Tarsus Pharmaceuticals in the second quarter valued at approximately $202,000. Finally, Bleakley Financial Group LLC bought a new position in shares of Tarsus Pharmaceuticals in the first quarter valued at approximately $223,000. 90.01% of the stock is owned by 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.