Tarsus Pharmaceuticals (NASDAQ:TARS) Sets New 12-Month High - Here's What Happened

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $57.14 and last traded at $56.17, with a volume of 228758 shares traded. The stock had previously closed at $55.00.

Analysts Set New Price Targets

TARS has been the subject of a number of research analyst reports. Oppenheimer increased their price target on Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, November 14th. The Goldman Sachs Group increased their price objective on shares of Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a "neutral" rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Tarsus Pharmaceuticals currently has a consensus rating of "Buy" and a consensus price target of $54.20.

Tarsus Pharmaceuticals Stock Down 0.5 %

The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -14.36 and a beta of 1.04. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. The business has a fifty day moving average price of $48.24 and a two-hundred day moving average price of $35.82.

Institutional Trading of Tarsus Pharmaceuticals

Large investors have recently made changes to their positions in the business. Jennison Associates LLC lifted its position in Tarsus Pharmaceuticals by 47.2% during 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 during the period. JPMorgan Chase & Co. raised its stake in shares of Tarsus Pharmaceuticals by 2,088.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company's stock valued at $14,477,000 after buying an additional 420,057 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Tarsus Pharmaceuticals by 1,259.3% in the 2nd quarter. Millennium Management LLC now owns 348,586 shares of the company's stock valued at $9,475,000 after buying an additional 322,942 shares during the period. Ally Bridge Group NY LLC purchased a new stake in shares of Tarsus Pharmaceuticals in the third quarter worth about $10,587,000. Finally, Vestal Point Capital LP acquired a new position in Tarsus Pharmaceuticals in the third quarter valued at approximately $7,565,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

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.