Tarsus Pharmaceuticals (NASDAQ:TARS) Sets New 1-Year High – Time to Buy?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $77.99 and last traded at $77.96, with a volume of 133655 shares. The stock had previously closed at $74.17.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Tarsus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Friday, September 5th. HC Wainwright lifted their price target on shares of Tarsus Pharmaceuticals from $72.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. The Goldman Sachs Group reissued a “neutral” rating and issued a $51.00 price objective on shares of Tarsus Pharmaceuticals in a report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Wednesday, October 8th. Finally, Guggenheim boosted their target price on Tarsus Pharmaceuticals from $84.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $69.83.

Tarsus Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.25 and a current ratio of 4.29. The company has a 50-day moving average of $64.68 and a 200-day moving average of $52.24. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -38.43 and a beta of 0.82.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its earnings results on Tuesday, November 4th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.05. Tarsus Pharmaceuticals had a negative net margin of 22.17% and a negative return on equity of 26.29%. The firm had revenue of $118.70 million during the quarter, compared to the consensus estimate of $114.22 million. As a group, equities research analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 6,000 shares of Tarsus Pharmaceuticals stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $55.37, for a total value of $332,220.00. Following the transaction, the chief executive officer owned 812,106 shares in the company, valued at $44,966,309.22. This trade represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William J. Phd Link sold 27,116 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $57.00, for a total transaction of $1,545,612.00. Following the sale, the director owned 143,332 shares of the company’s stock, valued at approximately $8,169,924. This represents a 15.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 8.97% of the company’s stock.

Institutional Trading of Tarsus Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. Voleon Capital Management LP acquired a new stake in shares of Tarsus Pharmaceuticals during the third quarter worth approximately $1,366,000. Quarry LP boosted its holdings in shares of Tarsus Pharmaceuticals by 103.3% in the 3rd quarter. Quarry LP now owns 6,100 shares of the company’s stock valued at $363,000 after buying an additional 3,100 shares during the period. Qube Research & Technologies Ltd grew its position in shares of Tarsus Pharmaceuticals by 13.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 522,276 shares of the company’s stock valued at $31,039,000 after buying an additional 62,840 shares during the last quarter. Millennium Management LLC lifted its holdings in Tarsus Pharmaceuticals by 73.0% in the third quarter. Millennium Management LLC now owns 100,568 shares of the company’s stock worth $5,977,000 after acquiring an additional 42,427 shares during the last quarter. Finally, HighVista Strategies LLC boosted its stake in Tarsus Pharmaceuticals by 112.8% in the third quarter. HighVista Strategies LLC now owns 24,854 shares of the company’s stock valued at $1,477,000 after acquiring an additional 13,174 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

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.