Tarsus Pharmaceuticals (NASDAQ:TARS) Reaches New 12-Month High Following Analyst Upgrade

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s share price reached a new 52-week high on Thursday after The Goldman Sachs Group raised their price target on the stock from $36.00 to $41.00. The Goldman Sachs Group currently has a neutral rating on the stock. Tarsus Pharmaceuticals traded as high as $52.99 and last traded at $49.56, with a volume of 99352 shares changing hands. The stock had previously closed at $46.51.

Other analysts have also recently issued reports about the company. William Blair raised Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Oppenheimer boosted their price objective on shares of Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $54.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of Tarsus Pharmaceuticals by 345.9% in the 3rd quarter. Barclays PLC now owns 98,663 shares of the company’s stock valued at $3,246,000 after acquiring an additional 76,538 shares during the last quarter. Wellington Management Group LLP raised its position in Tarsus Pharmaceuticals by 14.2% in the 3rd quarter. Wellington Management Group LLP now owns 145,347 shares of the company’s stock worth $4,780,000 after purchasing an additional 18,019 shares during the period. Ikarian Capital LLC raised its position in Tarsus Pharmaceuticals by 28.7% in the 3rd quarter. Ikarian Capital LLC now owns 1,030,277 shares of the company’s stock worth $33,886,000 after purchasing an additional 230,000 shares during the period. Verition Fund Management LLC purchased a new stake in Tarsus Pharmaceuticals in the 3rd quarter worth about $763,000. Finally, Vestal Point Capital LP purchased a new stake in Tarsus Pharmaceuticals in the 3rd quarter worth about $7,565,000. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Price Performance

The company has a current ratio of 7.03, a quick ratio of 6.99 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $1.71 billion, a PE ratio of -11.77 and a beta of 1.00. The stock’s 50-day moving average is $37.84 and its two-hundred day moving average is $32.52.

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.