Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Down 5.3% – Here’s Why

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) was down 5.3% on Friday . The stock traded as low as $43.50 and last traded at $44.20. Approximately 131,705 shares were traded during trading, a decline of 82% from the average daily volume of 723,793 shares. The stock had previously closed at $46.65.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TARS shares. Oppenheimer raised their price target on Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday. William Blair raised Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Finally, 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. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $54.20.

Tarsus Pharmaceuticals Stock Performance

The business has a 50-day simple moving average of $37.84 and a 200 day simple moving average of $32.53. 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 firm has a market cap of $1.71 billion, a PE ratio of -11.77 and a beta of 1.00.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Tarsus Pharmaceuticals by 8.1% during the third quarter. Geode Capital Management LLC now owns 835,790 shares of the company’s stock valued at $27,494,000 after purchasing an additional 62,555 shares in the last quarter. Barclays PLC lifted its stake in shares of Tarsus Pharmaceuticals by 345.9% during the 3rd quarter. Barclays PLC now owns 98,663 shares of the company’s stock valued at $3,246,000 after buying an additional 76,538 shares in the last quarter. Wellington Management Group LLP increased its stake in Tarsus Pharmaceuticals by 14.2% in the 3rd quarter. Wellington Management Group LLP now owns 145,347 shares of the company’s stock worth $4,780,000 after buying an additional 18,019 shares in the last quarter. Ikarian Capital LLC increased its stake in Tarsus Pharmaceuticals by 28.7% in the 3rd quarter. Ikarian Capital LLC now owns 1,030,277 shares of the company’s stock worth $33,886,000 after buying an additional 230,000 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in Tarsus Pharmaceuticals during the third quarter valued at about $763,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

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.