Oppenheimer Increases Tarsus Pharmaceuticals (NASDAQ:TARS) Price Target to $72.00

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) had its price target boosted by research analysts at Oppenheimer from $65.00 to $72.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's price objective indicates a potential upside of 46.58% from the company's previous close.

Separately, The Goldman Sachs Group upped their price objective on shares of Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a "neutral" rating in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $55.60.

Tarsus Pharmaceuticals Stock Performance

NASDAQ TARS traded up $1.01 during trading on Wednesday, hitting $49.12. 579,865 shares of the company's stock traded hands, compared to its average volume of 820,326. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -12.89 and a beta of 1.02. Tarsus Pharmaceuticals has a 12-month low of $20.08 and a 12-month high of $57.14. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. The business has a 50 day moving average of $50.92 and a 200-day moving average of $38.73.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of TARS. Jennison Associates LLC raised its stake in Tarsus Pharmaceuticals by 47.2% in the third quarter. Jennison Associates LLC now owns 2,178,580 shares of the company's stock valued at $71,653,000 after purchasing an additional 698,712 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Tarsus Pharmaceuticals by 2,088.8% in the third quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company's stock valued at $14,477,000 after purchasing an additional 420,057 shares in the last quarter. Millennium Management LLC raised its stake in Tarsus Pharmaceuticals by 1,259.3% in the second quarter. Millennium Management LLC now owns 348,586 shares of the company's stock valued at $9,475,000 after purchasing an additional 322,942 shares in the last quarter. Ally Bridge Group NY LLC purchased a new stake in Tarsus Pharmaceuticals in the third quarter valued at approximately $10,587,000. Finally, Vestal Point Capital LP bought a new position in Tarsus Pharmaceuticals during the third quarter valued at approximately $7,565,000. 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.