Tarsus Pharmaceuticals (NASDAQ:TARS) Sets New 1-Year High – Here’s What Happened

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $57.14 and last traded at $56.17, with a volume of 228758 shares trading hands. The stock had previously closed at $55.00.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TARS. Oppenheimer lifted their price target on Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. The Goldman Sachs Group upped their price target on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $54.20.

Tarsus Pharmaceuticals Price Performance

The firm has a market capitalization of $2.14 billion, a PE ratio of -14.67 and a beta of 1.04. 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 company has a fifty day moving average price of $48.24 and a two-hundred day moving average price of $35.82.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TARS. Quest Partners LLC acquired a new position in shares of Tarsus Pharmaceuticals in the 2nd quarter valued at $61,000. Canada Pension Plan Investment Board acquired a new position in Tarsus Pharmaceuticals in the second quarter valued at $114,000. FMR LLC increased its stake in Tarsus Pharmaceuticals by 236.6% in 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Tarsus Pharmaceuticals by 33.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company’s stock valued at $166,000 after buying an additional 1,530 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Tarsus Pharmaceuticals by 87.5% during the third quarter. SG Americas Securities LLC now owns 7,242 shares of the company’s stock worth $238,000 after buying an additional 3,379 shares during the period. Hedge funds and other institutional investors 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.