Tarsus Pharmaceuticals (NASDAQ:TARS) Hits New 1-Year High at $42.50

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $42.50 and last traded at $39.07, with a volume of 192307 shares trading hands. The stock had previously closed at $37.35.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TARS shares. Barclays raised their price target on shares of Tarsus Pharmaceuticals from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Oppenheimer reissued an “outperform” rating and issued a $59.00 price objective (up previously from $55.00) on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 28th. HC Wainwright lifted their target price on Tarsus Pharmaceuticals from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. The Goldman Sachs Group increased their price target on Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Finally, Jefferies Financial Group increased their target price on shares of Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.38.

Tarsus Pharmaceuticals Price Performance

The stock has a 50 day moving average price of $34.32 and a two-hundred day moving average price of $26.09. The firm has a market cap of $1.35 billion, a PE ratio of -7.50 and a beta of 1.10. The company has a quick ratio of 6.85, a current ratio of 6.93 and a debt-to-equity ratio of 0.15.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($1.31) EPS for the quarter, topping the consensus estimate of ($1.37) by $0.06. The firm had revenue of $13.08 million for the quarter, compared to analysts’ expectations of $4.63 million. During the same quarter in the previous year, the firm posted ($0.49) earnings per share. As a group, equities analysts expect that Tarsus Pharmaceuticals, Inc. will post -4.25 earnings per share for the current year.

Insider Activity

In other news, General Counsel Bryan Wahl sold 4,436 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $30.60, for a total value of $135,741.60. Following the completion of the transaction, the general counsel now owns 40,951 shares in the company, valued at $1,253,100.60. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, General Counsel Bryan Wahl sold 4,436 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $30.60, for a total transaction of $135,741.60. Following the transaction, the general counsel now directly owns 40,951 shares of the company’s stock, valued at approximately $1,253,100.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Seshadri Neervannan sold 4,879 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $30.60, for a total value of $149,297.40. Following the transaction, the chief operating officer now directly owns 64,767 shares in the company, valued at approximately $1,981,870.20. The disclosure for this sale can be found here. Insiders sold 24,496 shares of company stock worth $749,578 in the last 90 days. 11.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. RTW Investments LP grew its stake in shares of Tarsus Pharmaceuticals by 9.4% in the 4th quarter. RTW Investments LP now owns 3,152,341 shares of the company’s stock valued at $63,835,000 after buying an additional 271,640 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Tarsus Pharmaceuticals by 25.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,551,802 shares of the company’s stock worth $27,576,000 after acquiring an additional 316,128 shares in the last quarter. Jennison Associates LLC acquired a new position in Tarsus Pharmaceuticals during the 1st quarter worth $48,380,000. TFG Asset Management GP Ltd boosted its stake in shares of Tarsus Pharmaceuticals by 30.1% in the 4th quarter. TFG Asset Management GP Ltd now owns 800,000 shares of the company’s stock valued at $16,200,000 after purchasing an additional 185,000 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new stake in shares of Tarsus Pharmaceuticals during the 3rd quarter valued at $13,399,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.