Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Up on Better-Than-Expected Earnings

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s share price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $45.54, but opened at $47.44. Tarsus Pharmaceuticals shares last traded at $44.83, with a volume of 251,757 shares trading hands.

The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%.

Analyst Upgrades and Downgrades

Several analysts recently commented on TARS shares. Oppenheimer increased their price objective on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Barclays raised their price target on shares of Tarsus Pharmaceuticals from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Guggenheim reaffirmed a “buy” rating on shares of Tarsus Pharmaceuticals in a research report on Monday. Finally, The Goldman Sachs Group upped their price target on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $56.00.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Paradigm Biocapital Advisors LP lifted its holdings in shares of Tarsus Pharmaceuticals by 3.7% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 2,531,896 shares of the company’s stock worth $140,191,000 after acquiring an additional 91,451 shares during the last quarter. Jennison Associates LLC raised its position in Tarsus Pharmaceuticals by 14.8% in the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock worth $138,432,000 after purchasing an additional 321,552 shares during the period. Vanguard Group Inc. lifted its stake in Tarsus Pharmaceuticals by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,115,162 shares of the company’s stock worth $117,117,000 after purchasing an additional 17,839 shares during the last quarter. Toronto Dominion Bank purchased a new position in shares of Tarsus Pharmaceuticals during the fourth quarter valued at approximately $105,714,000. Finally, Lord Abbett & CO. LLC grew its stake in shares of Tarsus Pharmaceuticals by 115.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company’s stock valued at $70,873,000 after buying an additional 685,111 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. The stock has a market capitalization of $1.72 billion, a PE ratio of -11.86 and a beta of 1.01. The firm has a fifty day moving average price of $51.75 and a two-hundred day moving average price of $42.90.

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.