Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Up to $23.61

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares gapped up prior to trading on Friday . The stock had previously closed at $23.61, but opened at $27.00. Tarsus Pharmaceuticals shares last traded at $26.85, with a volume of 356,080 shares trading hands.

Analysts Set New Price Targets

Several brokerages have issued reports on TARS. Oppenheimer lifted their price target on Tarsus Pharmaceuticals from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. HC Wainwright upped their price objective on shares of Tarsus Pharmaceuticals from $57.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Barclays upped their price objective on shares of Tarsus Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.83.

Tarsus Pharmaceuticals Price Performance

The firm has a 50-day moving average of $27.87 and a 200 day moving average of $31.48. The company has a debt-to-equity ratio of 0.11, a current ratio of 8.01 and a quick ratio of 7.92. The company has a market capitalization of $1.02 billion, a PE ratio of -5.66 and a beta of 1.06.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($1.01) earnings per share for the quarter, beating the consensus estimate of ($1.15) by $0.14. The company had revenue of $27.61 million for the quarter, compared to analysts’ expectations of $17.94 million. As a group, research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Quest Partners LLC purchased a new position in shares of Tarsus Pharmaceuticals during the second quarter valued at about $61,000. Nations Financial Group Inc. IA ADV bought a new position in shares of Tarsus Pharmaceuticals in the 1st quarter valued at about $218,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 acquiring an additional 1,530 shares during the period. Simplicity Wealth LLC purchased a new stake in Tarsus Pharmaceuticals in the 1st quarter worth about $223,000. Finally, Bleakley Financial Group LLC purchased a new stake in Tarsus Pharmaceuticals in the first quarter worth $223,000. 90.01% of the stock is 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.