Barclays Issues Pessimistic Forecast for Tarsus Pharmaceuticals (NASDAQ:TARS) Stock Price

Tarsus Pharmaceuticals (NASDAQ:TARS) had its price objective cut by Barclays from $62.00 to $60.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 45.31% from the stock’s previous close.

TARS has been the topic of a number of other research reports. Oppenheimer raised their target price on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group boosted 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. HC Wainwright reiterated a “buy” rating and set a $73.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Wednesday. Finally, Guggenheim reiterated a “buy” rating on shares of Tarsus Pharmaceuticals in a report on Monday. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tarsus Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $58.00.

Tarsus Pharmaceuticals Trading Down 9.3 %

Shares of Tarsus Pharmaceuticals stock opened at $41.29 on Wednesday. The company has a 50-day moving average of $51.51 and a two-hundred day moving average of $43.00. Tarsus Pharmaceuticals has a 12-month low of $20.08 and a 12-month high of $57.28. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.58 billion, a PE ratio of -10.84 and a beta of 1.01.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.08. The company had revenue of $66.41 million during the quarter, compared to the consensus estimate of $58.80 million. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. On average, research analysts anticipate that Tarsus Pharmaceuticals will post -3.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Crowley Wealth Management Inc. acquired a new position in Tarsus Pharmaceuticals in the fourth quarter worth $25,000. GF Fund Management CO. LTD. acquired a new position in shares of Tarsus Pharmaceuticals in the 4th quarter valued at $44,000. R Squared Ltd bought a new position in Tarsus Pharmaceuticals during the fourth quarter worth about $53,000. FMR LLC raised its holdings in Tarsus Pharmaceuticals by 236.6% in the third quarter. FMR LLC now owns 5,032 shares of the company’s stock worth $166,000 after purchasing an additional 3,537 shares during the period. Finally, Quarry LP bought a new position in Tarsus Pharmaceuticals during the fourth quarter worth about $166,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.