Guggenheim Reiterates Buy Rating for Tarsus Pharmaceuticals (NASDAQ:TARS)

Guggenheim reiterated their buy rating on shares of Tarsus Pharmaceuticals (NASDAQ:TARS) in a report issued on Monday,Benzinga reports. They currently have a $78.00 price objective on the stock, up from their previous price objective of $75.00.

TARS has been the subject of several other reports. Oppenheimer upped their price objective on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Barclays increased their target price on shares of Tarsus Pharmaceuticals from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Finally, The Goldman Sachs Group lifted their price target on shares of 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $61.33.

Tarsus Pharmaceuticals Price Performance

TARS stock opened at $42.56 on Monday. The company’s 50-day moving average price is $51.31 and its two-hundred day moving average price is $43.00. The firm has a market cap of $1.63 billion, a P/E ratio of -11.17 and a beta of 1.01. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30. Tarsus Pharmaceuticals has a 12 month low of $20.08 and a 12 month high of $57.28.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The business had revenue of $66.41 million for the quarter, compared to analysts’ expectations of $58.80 million. On average, analysts anticipate that Tarsus Pharmaceuticals will post -3.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TARS. Creative Planning bought a new stake in shares of Tarsus Pharmaceuticals in the third quarter worth $362,000. Allspring Global Investments Holdings LLC raised its position in Tarsus Pharmaceuticals by 16.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 210,531 shares of the company’s stock worth $6,924,000 after purchasing an additional 29,465 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Tarsus Pharmaceuticals by 64.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,317 shares of the company’s stock worth $241,000 after buying an additional 2,879 shares during the period. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Tarsus Pharmaceuticals in the 3rd quarter valued at about $3,608,000. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Tarsus Pharmaceuticals by 57.5% in the third quarter. Harbor Capital Advisors Inc. now owns 18,105 shares of the company’s stock valued at $595,000 after buying an additional 6,612 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.