Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Up – Time to Buy?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares gapped up prior to trading on Monday . The stock had previously closed at $39.41, but opened at $41.01. Tarsus Pharmaceuticals shares last traded at $39.39, with a volume of 73,455 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. William Blair upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Oppenheimer reissued an “outperform” rating and issued a $63.00 target price (up previously 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $51.60.

Tarsus Pharmaceuticals Stock Performance

The company has a fifty day moving average of $32.16 and a two-hundred day moving average of $31.21. The company has a debt-to-equity ratio of 0.28, a quick ratio of 6.99 and a current ratio of 7.03. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -8.79 and a beta of 1.07.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($0.98) by $0.10. The company had revenue of $40.81 million for the quarter, compared to analysts’ expectations 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 previous year, the business posted ($1.17) earnings per share. Equities research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.71 EPS for the current year.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several large investors have recently modified their holdings of TARS. Swiss National Bank increased its holdings in Tarsus Pharmaceuticals by 1.4% in the first quarter. Swiss National Bank now owns 42,433 shares of the company’s stock valued at $1,542,000 after purchasing an additional 600 shares during the period. Alpha DNA Investment Management LLC increased its stake in shares of Tarsus Pharmaceuticals by 9.1% in the second quarter. Alpha DNA Investment Management LLC now owns 15,174 shares of the company’s stock valued at $412,000 after buying an additional 1,261 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Tarsus Pharmaceuticals by 33.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company’s stock worth $166,000 after acquiring an additional 1,530 shares during the last quarter. Profund Advisors LLC lifted its stake in shares of Tarsus Pharmaceuticals by 26.8% in the second quarter. Profund Advisors LLC now owns 9,126 shares of the company’s stock worth $248,000 after acquiring an additional 1,929 shares during the period. Finally, Quest Partners LLC bought a new stake in Tarsus Pharmaceuticals in the second quarter valued at approximately $61,000. Institutional investors own 90.01% of the company’s stock.

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.