Barclays Lowers Tarsus Pharmaceuticals (NASDAQ:TARS) Price Target to $60.00

Tarsus Pharmaceuticals (NASDAQ:TARS) had its target price cut by equities research analysts at Barclays from $62.00 to $60.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 45.31% from the company’s current price.

TARS has been the topic of several other reports. Oppenheimer increased 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. Guggenheim reiterated a “buy” rating on shares of Tarsus Pharmaceuticals in a research report on Monday. HC Wainwright reiterated a “buy” rating and issued a $73.00 price target on shares of Tarsus Pharmaceuticals in a research report on Wednesday. Finally, The Goldman Sachs Group upped their price target on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $58.00.

Tarsus Pharmaceuticals Stock Down 9.3 %

TARS opened at $41.29 on Wednesday. The stock has a market cap of $1.58 billion, a PE ratio of -10.84 and a beta of 1.01. Tarsus Pharmaceuticals has a 52 week low of $20.08 and a 52 week high of $57.28. The business’s fifty day simple moving average is $51.51 and its 200 day simple moving average is $43.00. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.08. The company had revenue of $66.41 million for the quarter, compared to analysts’ expectations of $58.80 million. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. As a group, research analysts expect that Tarsus Pharmaceuticals will post -3.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several hedge funds have recently bought and sold shares of TARS. Crowley Wealth Management Inc. acquired a new stake in shares of Tarsus Pharmaceuticals in the fourth quarter valued at about $25,000. GF Fund Management CO. LTD. purchased a new stake in Tarsus Pharmaceuticals in the fourth quarter valued at approximately $44,000. R Squared Ltd purchased a new position in shares of Tarsus Pharmaceuticals in the fourth quarter valued at approximately $53,000. Quarry LP acquired a new position in Tarsus Pharmaceuticals during the 4th quarter worth $166,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter valued at approximately $207,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

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.