Wellington Management Group LLP Has $4.78 Million Stock Position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Wellington Management Group LLP increased its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 14.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 145,347 shares of the company’s stock after purchasing an additional 18,019 shares during the period. Wellington Management Group LLP owned approximately 0.38% of Tarsus Pharmaceuticals worth $4,780,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TARS. Bank of New York Mellon Corp grew its position in shares of Tarsus Pharmaceuticals by 27.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 122,634 shares of the company’s stock worth $3,333,000 after buying an additional 26,225 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 during the period. Rhumbline Advisers increased its stake in Tarsus Pharmaceuticals by 13.9% in the second quarter. Rhumbline Advisers now owns 49,660 shares of the company’s stock valued at $1,350,000 after purchasing an additional 6,070 shares in the last quarter. Quest Partners LLC acquired a new stake in Tarsus Pharmaceuticals in the second quarter worth $61,000. Finally, Cowen AND Company LLC raised its holdings in Tarsus Pharmaceuticals by 3.5% in the second quarter. Cowen AND Company LLC now owns 2,197,385 shares of the company’s stock worth $59,725,000 after purchasing an additional 74,855 shares during the period. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on TARS. William Blair upgraded shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. The Goldman Sachs Group increased their price target on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Finally, Oppenheimer lifted their price objective on Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. One research 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 data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $54.20.

Tarsus Pharmaceuticals Stock Performance

TARS opened at $51.73 on Tuesday. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -13.58 and a beta of 1.04. The business’s 50-day moving average price is $45.09 and its two-hundred day moving average price is $34.49. Tarsus Pharmaceuticals, Inc. has a 1 year low of $18.44 and a 1 year high of $54.44. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38.

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.