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

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) had its target price reduced by equities research analysts at Barclays from $62.00 to $60.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price target would suggest a potential upside of 34.89% from the company's current price.

A number of other research firms have also recently commented on TARS. Oppenheimer boosted their price target on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, January 22nd. The Goldman Sachs Group boosted their price objective on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a "neutral" rating in a research report on Friday, November 15th. 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, Guggenheim restated a "buy" rating and set a $78.00 target price (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a research report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tarsus Pharmaceuticals currently has an average rating of "Buy" and a consensus target price of $61.33.

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Tarsus Pharmaceuticals Trading Up 2.1 %

NASDAQ TARS traded up $0.93 during trading hours on Wednesday, hitting $44.48. The company's stock had a trading volume of 845,617 shares, compared to its average volume of 650,148. The firm has a market capitalization of $1.71 billion, a P/E ratio of -11.67 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. The stock has a fifty day moving average of $50.97 and a 200 day moving average of $43.13. Tarsus Pharmaceuticals has a twelve month low of $20.08 and a twelve month high of $57.28.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. The business had revenue of $66.41 million for the quarter, compared to analyst estimates of $58.80 million. Equities research analysts forecast that Tarsus Pharmaceuticals will post -3.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several large investors have recently made changes to their positions in TARS. Creative Planning purchased a new position in Tarsus Pharmaceuticals in the 3rd quarter worth approximately $362,000. China Universal Asset Management Co. Ltd. raised its stake in Tarsus Pharmaceuticals by 64.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,317 shares of the company's stock valued at $241,000 after buying an additional 2,879 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in Tarsus Pharmaceuticals during the 3rd quarter valued at $3,608,000. Harbor Capital Advisors Inc. raised its stake in Tarsus Pharmaceuticals by 57.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 18,105 shares of the company's stock valued at $595,000 after buying an additional 6,612 shares during the last quarter. Finally, Emerald Advisers LLC purchased a new stake in Tarsus Pharmaceuticals during the 3rd quarter valued at $4,812,000. 90.01% of the stock is currently owned by hedge funds and other 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.