Tarsus Pharmaceuticals (NASDAQ:TARS) Trading 5.3% Higher – Here’s What Happened

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares rose 5.3% during trading on Friday . The company traded as high as $34.12 and last traded at $33.97. Approximately 47,052 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 701,974 shares. The stock had previously closed at $32.27.

Analyst Ratings Changes

TARS has been the topic of several analyst reports. William Blair upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Oppenheimer restated an “outperform” rating and issued a $63.00 price target (up previously from $61.00) on shares of Tarsus Pharmaceuticals in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $51.60.

Tarsus Pharmaceuticals Stock Performance

The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -7.10 and a beta of 1.07. The company has a 50-day moving average of $28.52 and a 200-day moving average of $31.07. The company has a current ratio of 7.03, a quick ratio of 6.99 and a debt-to-equity ratio of 0.28.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings results 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. Tarsus Pharmaceuticals had a negative net margin of 180.00% and a negative return on equity of 63.99%. The company had revenue of $40.81 million for the quarter, compared to the consensus estimate of $31.30 million. During the same period last year, the firm posted ($1.17) EPS. On average, equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Tarsus Pharmaceuticals by 14.5% in the 1st quarter. Vanguard Group Inc. now owns 1,826,632 shares of the company’s stock worth $66,398,000 after purchasing an additional 231,131 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of Tarsus Pharmaceuticals during the first quarter valued at $12,640,000. TFG Asset Management GP Ltd grew its position in shares of Tarsus Pharmaceuticals by 30.1% during the fourth quarter. TFG Asset Management GP Ltd now owns 800,000 shares of the company’s stock worth $16,200,000 after acquiring an additional 185,000 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Tarsus Pharmaceuticals by 38,907.8% in the 1st quarter. Russell Investments Group Ltd. now owns 30,036 shares of the company’s stock worth $1,092,000 after acquiring an additional 29,959 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Tarsus Pharmaceuticals in the 2nd quarter valued at about $28,904,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.