Tarsus Pharmaceuticals (NASDAQ:TARS) Hits New 12-Month High – Here’s Why

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $57.18 and last traded at $57.05, with a volume of 228659 shares. The stock had previously closed at $54.50.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised their price objective on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Barclays boosted their target price on shares of Tarsus Pharmaceuticals from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Finally, Oppenheimer raised their price objective on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $56.00.

Tarsus Pharmaceuticals Stock Performance

The stock has a 50 day moving average price of $52.01 and a two-hundred day moving average price of $40.69. The company has a market cap of $2.02 billion, a P/E ratio of -13.90 and a beta of 1.01. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30.

Institutional Trading of Tarsus Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Tarsus Pharmaceuticals by 16.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 210,531 shares of the company’s stock worth $6,924,000 after buying an additional 29,465 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Tarsus Pharmaceuticals by 2,088.8% in the third quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company’s stock worth $14,477,000 after acquiring an additional 420,057 shares during the last quarter. Creative Planning acquired a new stake in shares of Tarsus Pharmaceuticals in the 3rd quarter valued at approximately $362,000. Vestal Point Capital LP bought a new stake in shares of Tarsus Pharmaceuticals during the 3rd quarter valued at approximately $7,565,000. Finally, Essex Investment Management Co. LLC acquired a new position in Tarsus Pharmaceuticals during the 3rd quarter worth approximately $3,590,000. 90.01% of the stock is currently owned by institutional investors.

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.