Tarsus Pharmaceuticals (NASDAQ:TARS) Sets New 52-Week High - Should You Buy?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $43.22 and last traded at $42.64, with a volume of 1115345 shares trading hands. The stock had previously closed at $39.67.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TARS shares. Oppenheimer reaffirmed an "outperform" rating and set a $63.00 target price (up previously from $61.00) on shares of Tarsus Pharmaceuticals in a research note on Friday, August 9th. William Blair upgraded shares of Tarsus Pharmaceuticals to a "strong-buy" rating in a research note on Friday, August 30th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $51.60.

Tarsus Pharmaceuticals Price Performance

The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -9.79 and a beta of 1.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 7.03 and a quick ratio of 6.99. The business's fifty day moving average price is $32.78 and its 200-day moving average price is $31.28.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($0.98) by $0.10. Tarsus Pharmaceuticals had a negative return on equity of 63.99% and a negative net margin of 180.00%. The company had revenue of $40.81 million during the quarter, compared to analyst estimates of $31.30 million. During the same quarter last year, the firm posted ($1.17) EPS. On average, research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.71 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Jennison Associates LLC purchased a new position in Tarsus Pharmaceuticals in the 1st quarter worth about $48,380,000. Assenagon Asset Management S.A. bought a new position in Tarsus Pharmaceuticals during the second quarter valued at $28,904,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Tarsus Pharmaceuticals by 1,113.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 898,000 shares of the company's stock valued at $32,642,000 after purchasing an additional 824,000 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Tarsus Pharmaceuticals during the first quarter worth $12,640,000. Finally, Millennium Management LLC boosted its stake in shares of Tarsus Pharmaceuticals by 1,259.3% during the 2nd quarter. Millennium Management LLC now owns 348,586 shares of the company's stock worth $9,475,000 after purchasing an additional 322,942 shares during the period. 90.01% of the stock is 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.