Tarsus Pharmaceuticals (NASDAQ:TARS) Reaches New 12-Month High Following Analyst Upgrade

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) reached a new 52-week high during trading on Thursday after The Goldman Sachs Group raised their price target on the stock from $36.00 to $41.00. The Goldman Sachs Group currently has a neutral rating on the stock. Tarsus Pharmaceuticals traded as high as $52.99 and last traded at $49.56, with a volume of 99352 shares trading hands. The stock had previously closed at $46.51.

Several other research analysts have also issued reports on the company. William Blair upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Oppenheimer increased their price target on Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tarsus Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $54.20.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

A number of large investors have recently made changes to their positions in TARS. Quest Partners LLC bought a new stake in Tarsus Pharmaceuticals during the second quarter valued at $61,000. Canada Pension Plan Investment Board purchased a new stake in Tarsus Pharmaceuticals during the second quarter valued at about $114,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Tarsus Pharmaceuticals by 33.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company’s stock valued at $166,000 after purchasing an additional 1,530 shares in the last quarter. FMR LLC raised its position in Tarsus Pharmaceuticals by 236.6% during the third quarter. FMR LLC now owns 5,032 shares of the company’s stock valued at $166,000 after purchasing an additional 3,537 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in Tarsus Pharmaceuticals during the second quarter valued at about $202,000. 90.01% of the stock is owned by institutional investors.

Tarsus Pharmaceuticals Stock Performance

The stock has a market cap of $1.71 billion, a PE ratio of -11.77 and a beta of 1.00. The company has a fifty day moving average price of $37.84 and a 200 day moving average price of $32.52. The company has a quick ratio of 6.99, a current ratio of 7.03 and a debt-to-equity ratio of 0.28.

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.