Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Up 9% on Analyst Upgrade

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares traded up 9% during trading on Monday after Barclays raised their price target on the stock from $60.00 to $62.00. Barclays currently has an overweight rating on the stock. Tarsus Pharmaceuticals traded as high as $52.20 and last traded at $53.16. 140,704 shares changed hands during trading, a decline of 81% from the average session volume of 750,498 shares. The stock had previously closed at $48.78.

TARS has been the subject of several other research reports. Oppenheimer boosted their price objective on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group upped their target price on shares of Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $56.00.

Institutional Trading of Tarsus Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in TARS. R Squared Ltd purchased a new position in shares of Tarsus Pharmaceuticals in the fourth quarter worth $53,000. Canada Pension Plan Investment Board bought a new stake in Tarsus Pharmaceuticals in the 2nd quarter worth $114,000. FMR LLC increased its position in shares of Tarsus Pharmaceuticals by 236.6% in the third quarter. FMR LLC now owns 5,032 shares of the company’s stock valued at $166,000 after acquiring an additional 3,537 shares during the period. Dark Forest Capital Management LP bought a new position in shares of Tarsus Pharmaceuticals during the second quarter valued at about $202,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Tarsus Pharmaceuticals by 87.5% during the third quarter. SG Americas Securities LLC now owns 7,242 shares of the company’s stock worth $238,000 after purchasing an additional 3,379 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Stock Up 7.1 %

The company has a 50 day moving average of $51.04 and a 200-day moving average of $39.10. The company has a market capitalization of $2.00 billion, a P/E ratio of -13.82 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38.

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.