Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Given Consensus Rating of "Buy" by Brokerages

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) have been assigned an average rating of "Buy" from the seven brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $63.67.

Several brokerages recently commented on TARS. Barclays reduced their target price on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Jefferies Financial Group boosted their price objective on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. HC Wainwright reiterated a "buy" rating and set a $73.00 target price on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. Oppenheimer boosted their price target on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, January 22nd. Finally, Guggenheim reaffirmed a "buy" rating and issued a $78.00 price objective (up from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th.

Tarsus Pharmaceuticals Trading Up 0.1 %

Shares of Tarsus Pharmaceuticals stock opened at $50.00 on Monday. The stock has a market cap of $1.92 billion, a P/E ratio of -13.12 and a beta of 0.94. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30. Tarsus Pharmaceuticals has a 12-month low of $20.08 and a 12-month high of $57.28. The business's 50 day moving average is $47.60 and its 200-day moving average is $48.43.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share for the quarter, beating analysts' consensus estimates of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. The business had revenue of $66.41 million for the quarter, compared to analysts' expectations of $58.80 million. Equities research analysts predict that Tarsus Pharmaceuticals will post -3.17 earnings per share for the current fiscal year.

Insider Activity

In other Tarsus Pharmaceuticals news, General Counsel Bryan Wahl sold 3,341 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $154,654.89. Following the completion of the sale, the general counsel now directly owns 58,057 shares in the company, valued at $2,687,458.53. This represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bobak R. Azamian sold 6,000 shares of Tarsus Pharmaceuticals stock in a transaction on Monday, March 24th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the transaction, the chief executive officer now owns 824,106 shares in the company, valued at approximately $41,205,300. The trade was a 0.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,542 shares of company stock worth $1,581,173. 8.25% of the stock is currently owned by company insiders.

Institutional Trading of Tarsus Pharmaceuticals

Large investors have recently bought and sold shares of the business. Barclays PLC boosted its stake in shares of Tarsus Pharmaceuticals by 345.9% in the 3rd quarter. Barclays PLC now owns 98,663 shares of the company's stock valued at $3,246,000 after purchasing an additional 76,538 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Tarsus Pharmaceuticals by 9.3% during the third quarter. Franklin Resources Inc. now owns 12,164 shares of the company's stock worth $444,000 after buying an additional 1,033 shares in the last quarter. Exome Asset Management LLC bought a new position in shares of Tarsus Pharmaceuticals in the 3rd quarter valued at $1,500,000. Lord Abbett & CO. LLC boosted its holdings in shares of Tarsus Pharmaceuticals by 28.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 594,876 shares of the company's stock valued at $19,565,000 after acquiring an additional 131,636 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Tarsus Pharmaceuticals by 2,088.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company's stock worth $14,477,000 after acquiring an additional 420,057 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Tarsus Pharmaceuticals Company 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.

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