Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) have been assigned an average recommendation of “Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $42.50.
TARS has been the topic of a number of analyst reports. Zacks Investment Research cut Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, September 14th. Raymond James upped their price target on Tarsus Pharmaceuticals from $39.00 to $50.00 and gave the company a “strong-buy” rating in a research note on Tuesday, June 29th. Finally, Jefferies Financial Group upped their price target on Tarsus Pharmaceuticals from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, June 22nd.
Shares of NASDAQ TARS opened at $22.54 on Thursday. The company has a market cap of $463.74 million and a P/E ratio of -5.22. Tarsus Pharmaceuticals has a 12 month low of $15.32 and a 12 month high of $63.69. The business’s 50 day moving average is $24.41 and its two-hundred day moving average is $28.68.
In other Tarsus Pharmaceuticals news, Director Michael Ackermann sold 5,833 shares of the stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $25.24, for a total value of $147,224.92. Following the completion of the sale, the director now directly owns 1,221,515 shares in the company, valued at $30,831,038.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Vivo Capital Ix, Llc sold 7,704 shares of the stock in a transaction dated Friday, June 25th. The stock was sold at an average price of $29.60, for a total value of $228,038.40. The disclosure for this sale can be found here. Insiders sold 24,694 shares of company stock valued at $647,042 in the last quarter. 33.08% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Morgan Stanley bought a new position in shares of Tarsus Pharmaceuticals during the second quarter worth about $241,000. Jefferies Group LLC bought a new position in shares of Tarsus Pharmaceuticals during the second quarter worth about $12,838,000. Invesco Ltd. grew its holdings in shares of Tarsus Pharmaceuticals by 4.0% during the second quarter. Invesco Ltd. now owns 30,428 shares of the company’s stock worth $882,000 after buying an additional 1,169 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Tarsus Pharmaceuticals by 25.2% during the second quarter. California State Teachers Retirement System now owns 11,644 shares of the company’s stock worth $337,000 after buying an additional 2,345 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Tarsus Pharmaceuticals by 11.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 46,573 shares of the company’s stock worth $1,350,000 after buying an additional 4,950 shares in the last quarter. Institutional investors and hedge funds own 63.50% of the company’s stock.
About Tarsus Pharmaceuticals
Tarsus Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for ophthalmic conditions. Its lead product candidate is TP-03, a novel therapeutic that is in Phase IIb/III for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.
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