Tarsus Pharmaceuticals (NASDAQ:TARS) Trading 8.5% Higher - Should You Buy?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report)'s share price rose 8.5% during mid-day trading on Friday . The company traded as high as $48.60 and last traded at $48.25. Approximately 891,774 shares were traded during mid-day trading, an increase of 25% from the average daily volume of 714,320 shares. The stock had previously closed at $44.49.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TARS. William Blair raised Tarsus Pharmaceuticals to a "strong-buy" rating in a report on Friday, August 30th. Oppenheimer restated an "outperform" rating and set a $63.00 price target (up from $61.00) on shares of Tarsus Pharmaceuticals in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $51.60.

Tarsus Pharmaceuticals Stock Up 6.3 %

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 company has a 50-day moving average price of $33.97 and a 200 day moving average price of $31.55. The firm has a market capitalization of $1.80 billion, a PE ratio of -10.56 and a beta of 1.07.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TARS. Quest Partners LLC purchased a new position in Tarsus Pharmaceuticals in the 2nd quarter worth $61,000. Canada Pension Plan Investment Board purchased a new position in Tarsus Pharmaceuticals in the second quarter valued at $114,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tarsus Pharmaceuticals by 33.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company's stock worth $166,000 after purchasing an additional 1,530 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at approximately $202,000. Finally, Bleakley Financial Group LLC purchased a new position in Tarsus Pharmaceuticals during the first quarter valued at $223,000. 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.