Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Down 5%

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) traded down 5% during mid-day trading on Tuesday . The company traded as low as $30.28 and last traded at $30.30. 314,432 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 716,160 shares. The stock had previously closed at $31.88.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. William Blair raised Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Oppenheimer reissued an “outperform” rating and issued a $63.00 target price (up from $61.00) on shares of Tarsus Pharmaceuticals in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $51.60.

Tarsus Pharmaceuticals Trading Up 6.3 %

The stock has a market capitalization of $1.32 billion, a PE ratio of -7.25 and a beta of 1.06. The company has a 50 day simple moving average of $27.25 and a 200 day simple moving average of $31.04. The company has a current ratio of 7.03, a quick ratio of 6.99 and a debt-to-equity ratio of 0.28.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.10. The business had revenue of $40.81 million during the quarter, compared to the consensus estimate of $31.30 million. Tarsus Pharmaceuticals had a negative return on equity of 63.99% and a negative net margin of 180.00%. During the same period in the prior year, the business posted ($1.17) EPS. Analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

A number of large investors have recently modified their holdings of the business. RTW Investments LP raised its stake in shares of Tarsus Pharmaceuticals by 9.4% during the 4th quarter. RTW Investments LP now owns 3,152,341 shares of the company’s stock worth $63,835,000 after buying an additional 271,640 shares in the last quarter. Cowen AND Company LLC grew its holdings in Tarsus Pharmaceuticals by 3.5% during the 2nd quarter. Cowen AND Company LLC now owns 2,197,385 shares of the company’s stock valued at $59,725,000 after buying an additional 74,855 shares during the last quarter. Vanguard Group Inc. grew its holdings in Tarsus Pharmaceuticals by 14.5% during the 1st quarter. Vanguard Group Inc. now owns 1,826,632 shares of the company’s stock valued at $66,398,000 after buying an additional 231,131 shares during the last quarter. Jennison Associates LLC acquired a new stake in Tarsus Pharmaceuticals during the 1st quarter valued at $48,380,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Tarsus Pharmaceuticals during the 2nd quarter valued at $28,904,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

About Tarsus Pharmaceuticals

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.