Tarsus Pharmaceuticals (NASDAQ:TARS) Price Target Raised to $62.00

Tarsus Pharmaceuticals (NASDAQ:TARS) had its target price raised by Barclays from $60.00 to $62.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts also recently weighed in on TARS. The Goldman Sachs Group boosted their price target on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Oppenheimer raised their price target on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $56.00.

Tarsus Pharmaceuticals Price Performance

Shares of TARS stock opened at $53.07 on Monday. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of -13.93 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. The stock’s 50-day simple moving average is $51.39 and its 200-day simple moving average is $39.49. Tarsus Pharmaceuticals has a fifty-two week low of $20.08 and a fifty-two week high of $57.14.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in TARS. Jennison Associates LLC grew its stake in shares of Tarsus Pharmaceuticals by 47.2% in the third quarter. Jennison Associates LLC now owns 2,178,580 shares of the company’s stock valued at $71,653,000 after buying an additional 698,712 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Tarsus Pharmaceuticals by 2,088.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company’s stock worth $14,477,000 after buying an additional 420,057 shares during the period. Millennium Management LLC boosted its position in Tarsus Pharmaceuticals by 1,259.3% in the 2nd quarter. Millennium Management LLC now owns 348,586 shares of the company’s stock valued at $9,475,000 after buying an additional 322,942 shares during the period. Ally Bridge Group NY LLC acquired a new stake in shares of Tarsus Pharmaceuticals in the third quarter valued at $10,587,000. Finally, Vestal Point Capital LP purchased a new position in shares of Tarsus Pharmaceuticals in the 3rd quarter valued at about $7,565,000. Hedge funds and other 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.