Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Up 8.5% – What’s Next?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s share price traded up 8.5% during mid-day trading on Friday . The stock traded as high as $48.60 and last traded at $48.25. 891,774 shares traded hands during trading, an increase of 25% from the average session volume of 714,320 shares. The stock had previously closed at $44.49.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $63.00 price target (up from $61.00) on shares of Tarsus Pharmaceuticals in a research note on Friday, August 9th. William Blair upgraded shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. One investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $51.60.

Tarsus Pharmaceuticals Price Performance

The company’s fifty day moving average is $33.53 and its 200 day moving average is $31.46. The company has a quick ratio of 6.99, a current ratio of 7.03 and a debt-to-equity ratio of 0.28. The stock has a market cap of $1.79 billion, a PE ratio of -10.70 and a beta of 1.07.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($0.98) by $0.10. The firm had revenue of $40.81 million for the quarter, compared to analyst estimates of $31.30 million. Tarsus Pharmaceuticals had a negative net margin of 180.00% and a negative return on equity of 63.99%. During the same quarter last year, the firm posted ($1.17) earnings per share. As a group, sell-side analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.71 earnings per share for the current fiscal year.

Institutional Trading of Tarsus Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Swiss National Bank grew its position in shares of Tarsus Pharmaceuticals by 1.4% during the first quarter. Swiss National Bank now owns 42,433 shares of the company’s stock worth $1,542,000 after buying an additional 600 shares in the last quarter. Alpha DNA Investment Management LLC grew its position in shares of Tarsus Pharmaceuticals by 9.1% during the second quarter. Alpha DNA Investment Management LLC now owns 15,174 shares of the company’s stock worth $412,000 after buying an additional 1,261 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Tarsus Pharmaceuticals by 33.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company’s stock worth $166,000 after purchasing an additional 1,530 shares during the period. Profund Advisors LLC boosted its holdings in 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 purchasing an additional 1,929 shares during the period. Finally, Quest Partners LLC acquired a new position in shares of Tarsus Pharmaceuticals during the second quarter valued at $61,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.