Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Up 8.5% – What’s Next?

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) were up 8.5% during trading on Friday . The company traded as high as $48.60 and last traded at $48.25. Approximately 891,774 shares were traded during trading, an increase of 25% from the average daily volume of 714,320 shares. The stock had previously closed at $44.49.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TARS. William Blair raised shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Oppenheimer restated an “outperform” rating and issued a $63.00 price objective (up previously from $61.00) on shares of Tarsus Pharmaceuticals in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $51.60.

Tarsus Pharmaceuticals Stock Up 6.0 %

The company has a current ratio of 7.03, a quick ratio of 6.99 and a debt-to-equity ratio of 0.28. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -10.70 and a beta of 1.07. The firm’s fifty day simple moving average is $33.53 and its 200 day simple moving average is $31.46.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $31.30 million. During the same quarter in the previous year, the business posted ($1.17) EPS. Sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.71 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Quest Partners LLC acquired a new position in shares of Tarsus Pharmaceuticals in the 2nd quarter valued at $61,000. Canada Pension Plan Investment Board purchased a new position in shares of Tarsus Pharmaceuticals in the 2nd quarter valued at about $114,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Tarsus Pharmaceuticals by 33.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company’s stock valued at $166,000 after purchasing an additional 1,530 shares in the last quarter. Bleakley Financial Group LLC purchased a new position in shares of Tarsus Pharmaceuticals in the 1st quarter valued at about $223,000. Finally, SG Americas Securities LLC grew its stake in Tarsus Pharmaceuticals by 87.5% in the 3rd quarter. SG Americas Securities LLC now owns 7,242 shares of the company’s stock valued at $238,000 after acquiring an additional 3,379 shares during the last quarter. Institutional investors and hedge funds 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.