Hsbc Holdings PLC Makes New Investment in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Hsbc Holdings PLC acquired a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 9,067 shares of the company’s stock, valued at approximately $241,000.

Several other hedge funds have also added to or reduced their stakes in the business. Swiss National Bank increased its holdings in shares of Tarsus Pharmaceuticals by 1.4% in the first quarter. Swiss National Bank now owns 42,433 shares of the company’s stock worth $1,542,000 after acquiring an additional 600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Tarsus Pharmaceuticals by 33.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company’s stock worth $166,000 after purchasing an additional 1,530 shares in the last quarter. Quest Partners LLC acquired a new stake in Tarsus Pharmaceuticals during the 2nd quarter worth approximately $61,000. China Universal Asset Management Co. Ltd. lifted its stake in Tarsus Pharmaceuticals by 71.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 6,567 shares of the company’s stock valued at $239,000 after buying an additional 2,735 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Tarsus Pharmaceuticals by 2.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 192,303 shares of the company’s stock valued at $6,990,000 after buying an additional 4,889 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TARS. Oppenheimer reaffirmed an “outperform” rating and issued a $63.00 price objective (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. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $51.60.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ TARS opened at $33.89 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 7.03 and a quick ratio of 6.99. The business has a 50-day moving average of $28.34 and a 200-day moving average of $31.05. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -7.10 and a beta of 1.07. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $12.57 and a fifty-two week high of $42.50.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.10. The company had revenue of $40.81 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business posted ($1.17) EPS. As a group, sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.68 earnings per share for the current fiscal year.

Tarsus Pharmaceuticals 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.