Essex Investment Management Co. LLC Makes New $3.59 Million Investment in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Essex Investment Management Co. LLC bought a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 109,156 shares of the company's stock, valued at approximately $3,590,000. Essex Investment Management Co. LLC owned approximately 0.29% of Tarsus Pharmaceuticals at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TARS. Quest Partners LLC acquired a new position in Tarsus Pharmaceuticals in the second quarter worth approximately $61,000. Canada Pension Plan Investment Board bought a new position in Tarsus Pharmaceuticals during the second quarter worth about $114,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Tarsus Pharmaceuticals by 33.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company's stock valued at $166,000 after purchasing an additional 1,530 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in shares of Tarsus Pharmaceuticals during the 1st quarter worth approximately $223,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Tarsus Pharmaceuticals by 71.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,567 shares of the company's stock worth $239,000 after acquiring an additional 2,735 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TARS. William Blair raised Tarsus Pharmaceuticals to a "strong-buy" rating in a research note on Friday, August 30th. Oppenheimer restated an "outperform" rating and issued a $63.00 target price (up from $61.00) on shares of Tarsus Pharmaceuticals in a research note on Friday, August 9th. One equities research 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 stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $51.60.

Tarsus Pharmaceuticals Trading Up 0.6 %

Tarsus Pharmaceuticals stock traded up $0.21 during trading on Friday, hitting $35.71. The company had a trading volume of 333,303 shares, compared to its average volume of 539,655. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -7.97 and a beta of 1.07. The company's 50 day simple moving average is $29.62 and its 200-day simple moving average is $31.07. Tarsus Pharmaceuticals, Inc. has a 1-year low of $12.57 and a 1-year high of $42.50. The company has a current ratio of 7.03, a quick ratio of 6.99 and a debt-to-equity ratio of 0.28.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its earnings results 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. The company had revenue of $40.81 million for the quarter, compared to analyst estimates of $31.30 million. Tarsus Pharmaceuticals had a negative net margin of 180.00% and a negative return on equity of 63.99%. During the same period in the prior year, the business posted ($1.17) earnings per share. As a group, analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.68 EPS for the current fiscal year.

Tarsus Pharmaceuticals Profile

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.