Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) dropped 5.3% during mid-day trading on Friday . The stock traded as low as $43.50 and last traded at $44.20. Approximately 131,705 shares traded hands during trading, a decline of 82% from the average daily volume of 723,793 shares. The stock had previously closed at $46.65.
Analysts Set New Price Targets
Several brokerages have recently weighed in on TARS. Oppenheimer upped their price objective on Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday. The Goldman Sachs Group raised their target price on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, William Blair raised Tarsus Pharmaceuticals to a "strong-buy" rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Tarsus Pharmaceuticals has an average rating of "Buy" and an average target price of $54.20.
View Our Latest Stock Report on TARS
Tarsus Pharmaceuticals Trading Down 3.9 %
The company has a fifty day moving average price of $37.84 and a 200-day moving average price of $32.52. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -11.77 and a beta of 1.00. The company has a current ratio of 7.03, a quick ratio of 6.99 and a debt-to-equity ratio of 0.28.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of TARS. Swiss National Bank boosted its holdings in Tarsus Pharmaceuticals by 1.4% in the first quarter. Swiss National Bank now owns 42,433 shares of the company's stock worth $1,542,000 after purchasing an additional 600 shares in the last quarter. Sei Investments Co. raised its stake in shares of Tarsus Pharmaceuticals by 128.2% in the 1st quarter. Sei Investments Co. now owns 32,804 shares of the company's stock valued at $1,192,000 after acquiring an additional 18,426 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Tarsus Pharmaceuticals by 38,907.8% in the 1st quarter. Russell Investments Group Ltd. now owns 30,036 shares of the company's stock worth $1,092,000 after purchasing an additional 29,959 shares during the last quarter. ProShare Advisors LLC bought a new stake in Tarsus Pharmaceuticals during the first quarter worth approximately $277,000. Finally, Bleakley Financial Group LLC acquired a new position in Tarsus Pharmaceuticals during the first quarter valued at approximately $223,000. Institutional investors and hedge funds own 90.01% of the company's stock.
Tarsus Pharmaceuticals Company Profile
(
Get Free Report)
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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