Oppenheimer Raises Tarsus Pharmaceuticals (NASDAQ:TARS) Price Target to $61.00

Tarsus Pharmaceuticals (NASDAQ:TARS) had its price objective upped by equities researchers at Oppenheimer from $59.00 to $61.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 69.68% from the company’s previous close.

A number of other research firms also recently weighed in on TARS. The Goldman Sachs Group lifted their price target on shares of Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. HC Wainwright raised their price objective on Tarsus Pharmaceuticals from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Jefferies Financial Group boosted their target price on shares of Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Barclays boosted their price target on Tarsus Pharmaceuticals from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Tarsus Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $48.63.

Tarsus Pharmaceuticals Stock Performance

Shares of NASDAQ:TARS traded down $1.40 during trading on Thursday, reaching $35.95. 959,703 shares of the stock were exchanged, compared to its average volume of 715,317. The firm has a market cap of $1.36 billion, a PE ratio of -7.79 and a beta of 1.10. The stock has a 50-day moving average price of $34.32 and a 200-day moving average price of $26.09. 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 has a 12 month low of $12.57 and a 12 month high of $42.50.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its earnings results on Tuesday, February 27th. The company reported ($1.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.06. The business had revenue of $13.08 million during the quarter, compared to the consensus estimate of $4.63 million. During the same period in the previous year, the firm posted ($0.49) EPS. Research analysts expect that Tarsus Pharmaceuticals will post -4.25 EPS for the current fiscal year.

Insider Buying and Selling

In other Tarsus Pharmaceuticals news, insider Aziz Mottiwala sold 4,766 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $30.60, for a total transaction of $145,839.60. Following the completion of the sale, the insider now owns 54,075 shares of the company’s stock, valued at approximately $1,654,695. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tarsus Pharmaceuticals news, insider Aziz Mottiwala sold 4,766 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $30.60, for a total transaction of $145,839.60. Following the completion of the sale, the insider now directly owns 54,075 shares in the company, valued at approximately $1,654,695. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Seshadri Neervannan sold 4,879 shares of the business’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 completion of the transaction, the chief operating officer now directly owns 64,767 shares in the company, valued at $1,981,870.20. The disclosure for this sale can be found here. Insiders have sold a total of 24,496 shares of company stock valued at $749,578 over the last ninety days. 11.54% of the stock is owned by company insiders.

Institutional Trading of Tarsus Pharmaceuticals

Large investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC acquired a new stake in shares of Tarsus Pharmaceuticals in the 1st quarter valued at about $2,989,000. Bleakley Financial Group LLC acquired a new stake in Tarsus Pharmaceuticals in the first quarter valued at approximately $223,000. ProShare Advisors LLC bought a new stake in shares of Tarsus Pharmaceuticals during the first quarter valued at approximately $277,000. Russell Investments Group Ltd. increased its holdings in shares of Tarsus Pharmaceuticals by 38,907.8% during the first quarter. Russell Investments Group Ltd. now owns 30,036 shares of the company’s stock valued at $1,092,000 after acquiring an additional 29,959 shares in the last quarter. Finally, Thoroughbred Financial Services LLC acquired a new position in shares of Tarsus Pharmaceuticals during the first quarter worth approximately $762,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.