Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Up - Here's Why

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $39.41, but opened at $41.01. Tarsus Pharmaceuticals shares last traded at $39.39, with a volume of 73,455 shares.

Analyst Upgrades and Downgrades

TARS has been the subject of a number of research analyst reports. William Blair upgraded shares of Tarsus Pharmaceuticals to a "strong-buy" rating in a research report on Friday, August 30th. Oppenheimer reissued an "outperform" rating and issued a $63.00 price target (up previously from $61.00) on shares of Tarsus Pharmaceuticals in a research note on Friday, August 9th. 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 data from MarketBeat, Tarsus Pharmaceuticals has an average rating of "Buy" and an average price target of $51.60.

Tarsus Pharmaceuticals Trading Up 0.7 %

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 $1.51 billion, a price-to-earnings ratio of -8.79 and a beta of 1.07. The firm's 50-day moving average price is $32.16 and its 200 day moving average price is $31.21.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, beating 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 firm had revenue of $40.81 million during the quarter, compared to the consensus estimate of $31.30 million. During the same quarter in the previous year, the company posted ($1.17) earnings per share. As a group, equities analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.71 EPS for the current year.

Institutional Trading of Tarsus Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank grew its position in Tarsus Pharmaceuticals by 1.4% in the 1st quarter. Swiss National Bank now owns 42,433 shares of the company's stock worth $1,542,000 after purchasing an additional 600 shares in the last quarter. Alpha DNA Investment Management LLC grew its holdings in shares of Tarsus Pharmaceuticals by 9.1% in the second quarter. Alpha DNA Investment Management LLC now owns 15,174 shares of the company's stock valued at $412,000 after acquiring an additional 1,261 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tarsus Pharmaceuticals by 33.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company's stock valued at $166,000 after acquiring an additional 1,530 shares during the last quarter. Profund Advisors LLC lifted its holdings in Tarsus Pharmaceuticals by 26.8% during the second quarter. Profund Advisors LLC now owns 9,126 shares of the company's stock worth $248,000 after acquiring an additional 1,929 shares during the period. Finally, Quest Partners LLC purchased a new position in Tarsus Pharmaceuticals in the second quarter worth $61,000. 90.01% of the stock is 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.