Tarsus Pharmaceuticals (NASDAQ:TARS) Upgraded to Buy at Wall Street Zen
by Scott Moore · The Cerbat Gem
Wall Street Zen upgraded shares of Tarsus Pharmaceuticals (NASDAQ:TARS – Free Report) from a hold rating to a buy rating in a report published on Saturday.
A number of other brokerages also recently commented on TARS. Guggenheim lifted their price objective on Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Thursday, January 22nd. Lifesci Capital raised Tarsus Pharmaceuticals to a “strong-buy” rating in a research note on Monday, March 16th. Oppenheimer lifted their price target on Tarsus Pharmaceuticals from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Finally, Zacks Research cut shares of Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.83.
Read Our Latest Stock Report on TARS
Tarsus Pharmaceuticals Price Performance
Shares of NASDAQ TARS opened at $70.12 on Friday. The stock has a market cap of $2.98 billion, a PE ratio of -43.28 and a beta of 0.63. The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.21. Tarsus Pharmaceuticals has a 12-month low of $38.51 and a 12-month high of $85.25. The company has a 50-day moving average of $68.14 and a 200 day moving average of $71.23.
Tarsus Pharmaceuticals (NASDAQ:TARS – Get Free Report) last released its earnings results on Monday, February 23rd. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The business had revenue of $151.67 million during the quarter, compared to analysts’ expectations of $144.56 million. Tarsus Pharmaceuticals had a negative return on equity of 19.63% and a negative net margin of 14.72%. As a group, sell-side analysts predict that Tarsus Pharmaceuticals will post -3.17 EPS for the current fiscal year.
Insiders Place Their Bets
In other Tarsus Pharmaceuticals news, insider Dianne C. Whitfield sold 4,174 shares of Tarsus Pharmaceuticals stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $67.00, for a total value of $279,658.00. Following the sale, the insider owned 35,028 shares in the company, valued at $2,346,876. The trade was a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J. Phd Link sold 12,500 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $68.79, for a total value of $859,875.00. Following the transaction, the director owned 116,332 shares of the company’s stock, valued at approximately $8,002,478.28. This represents a 9.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 79,391 shares of company stock valued at $5,432,035. Insiders own 8.97% of the company’s stock.
Institutional Trading of Tarsus Pharmaceuticals
Several institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Tarsus Pharmaceuticals by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock valued at $1,137,000 after buying an additional 1,217 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Tarsus Pharmaceuticals by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,220 shares of the company’s stock valued at $3,659,000 after acquiring an additional 1,394 shares during the period. Jane Street Group LLC raised its stake in shares of Tarsus Pharmaceuticals by 105.8% in the 1st quarter. Jane Street Group LLC now owns 10,456 shares of the company’s stock valued at $537,000 after acquiring an additional 190,000 shares during the period. Swiss National Bank lifted its holdings in shares of Tarsus Pharmaceuticals by 14.4% in the 2nd quarter. Swiss National Bank now owns 63,533 shares of the company’s stock worth $2,574,000 after acquiring an additional 8,000 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Tarsus Pharmaceuticals by 402.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 140,610 shares of the company’s stock worth $5,696,000 after acquiring an additional 112,637 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.
About Tarsus Pharmaceuticals
Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company’s research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus’s lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.
In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.