Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Up 3.6%

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares traded up 3.6% during trading on Wednesday . The stock traded as high as $32.28 and last traded at $32.18. 59,029 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 714,391 shares. The stock had previously closed at $31.05.

Analysts Set New Price Targets

Several analysts have commented on the stock. William Blair upgraded shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Oppenheimer restated an “outperform” rating and issued a $63.00 price objective (up from $61.00) on shares of Tarsus Pharmaceuticals in a report on Friday, August 9th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tarsus Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $51.60.

Tarsus Pharmaceuticals Stock Up 6.3 %

The company’s fifty day moving average price is $27.25 and its 200-day moving average price is $31.04. The stock has a market capitalization of $1.31 billion, a PE ratio of -7.25 and a beta of 1.06. 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 (NASDAQ:TARS) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.10. Tarsus Pharmaceuticals had a negative net margin of 180.00% and a negative return on equity of 63.99%. The company had revenue of $40.81 million during the quarter, compared to analyst estimates of $31.30 million. During the same period in the previous year, the business earned ($1.17) EPS. Analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.68 earnings per share for the current year.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. Driehaus Capital Management LLC grew its position in shares of Tarsus Pharmaceuticals by 126.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 364,463 shares of the company’s stock valued at $9,906,000 after acquiring an additional 203,300 shares during the period. Scientech Research LLC bought a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at $289,000. The Manufacturers Life Insurance Company grew its position in shares of Tarsus Pharmaceuticals by 10.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,282 shares of the company’s stock valued at $905,000 after acquiring an additional 3,112 shares during the period. Millennium Management LLC grew its position in shares of Tarsus Pharmaceuticals by 1,259.3% during the 2nd quarter. Millennium Management LLC now owns 348,586 shares of the company’s stock valued at $9,475,000 after acquiring an additional 322,942 shares during the period. Finally, Dark Forest Capital Management LP bought a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at $202,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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.