Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Up to $27.31

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $27.31, but opened at $28.15. Tarsus Pharmaceuticals shares last traded at $30.00, with a volume of 377,615 shares.

Analysts Set New Price Targets

Several analysts have recently issued reports on TARS shares. Barclays lifted their target price on shares of Tarsus Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. William Blair upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. HC Wainwright boosted their price target on Tarsus Pharmaceuticals from $57.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, Oppenheimer restated an “outperform” rating and issued a $63.00 price objective (up previously from $61.00) on shares of Tarsus Pharmaceuticals in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $51.17.

Tarsus Pharmaceuticals Stock Performance

The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -6.22 and a beta of 1.06. The company has a debt-to-equity ratio of 0.28, a current ratio of 7.03 and a quick ratio of 6.99. The firm has a fifty day moving average of $26.61 and a 200 day moving average of $31.20.

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, beating the consensus estimate of ($0.98) by $0.10. Tarsus Pharmaceuticals had a negative return on equity of 63.99% and a negative net margin of 180.00%. The company had revenue of $40.81 million during the quarter, compared to analysts’ expectations of $31.30 million. During the same period in the prior year, the business earned ($1.17) EPS. As a group, sell-side analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.68 EPS for the current year.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of TARS. Quest Partners LLC purchased a new stake in shares of Tarsus Pharmaceuticals in the 2nd quarter valued at approximately $61,000. Canada Pension Plan Investment Board acquired a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter worth about $114,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tarsus Pharmaceuticals by 33.4% in the 2nd 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 period. Dark Forest Capital Management LP acquired a new position in Tarsus Pharmaceuticals in the second quarter valued at about $202,000. Finally, Simplicity Wealth LLC acquired a new position in Tarsus Pharmaceuticals in the first quarter valued at about $223,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.