Tarsus Pharmaceuticals (NASDAQ:TARS) Hits New 12-Month High – What’s Next?

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $43.22 and last traded at $42.64, with a volume of 1115345 shares changing hands. The stock had previously closed at $39.67.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TARS shares. Oppenheimer restated an “outperform” rating and issued a $63.00 price target (up previously from $61.00) on shares of Tarsus Pharmaceuticals in a report on Friday, August 9th. William Blair upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $51.60.

Tarsus Pharmaceuticals Trading Up 12.9 %

The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -9.59 and a beta of 1.07. The business has a 50 day moving average of $32.42 and a 200 day moving average of $31.22. The company has a quick ratio of 6.99, a current ratio of 7.03 and a debt-to-equity ratio of 0.28.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.10. Tarsus Pharmaceuticals had a negative return on equity of 63.99% and a negative net margin of 180.00%. The business had revenue of $40.81 million during the quarter, compared to the consensus estimate of $31.30 million. During the same quarter in the previous year, the business earned ($1.17) earnings per share. On average, research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

A number of institutional investors have recently bought and sold shares of TARS. Quest Partners LLC purchased a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at $61,000. Canada Pension Plan Investment Board bought a new position in shares of Tarsus Pharmaceuticals during the second quarter valued at approximately $114,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 buying an additional 1,530 shares during the period. Dark Forest Capital Management LP acquired a new position in Tarsus Pharmaceuticals during the 2nd quarter valued at about $202,000. Finally, Bleakley Financial Group LLC bought a new stake in Tarsus Pharmaceuticals during the 1st quarter valued at $223,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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.