Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Up to $23.61

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) gapped up prior to trading on Friday . The stock had previously closed at $23.61, but opened at $27.00. Tarsus Pharmaceuticals shares last traded at $26.85, with a volume of 356,080 shares changing hands.

Analysts Set New Price Targets

TARS has been the topic of a number of analyst reports. Oppenheimer lifted their price objective on Tarsus Pharmaceuticals from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. HC Wainwright boosted their target price on shares of Tarsus Pharmaceuticals from $57.00 to $61.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Barclays increased their target price on shares of Tarsus Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.83.

Tarsus Pharmaceuticals Stock Up 14.0 %

The firm’s 50 day simple moving average is $27.87 and its 200-day simple moving average is $31.48. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -5.66 and a beta of 1.06. The company has a debt-to-equity ratio of 0.11, a current ratio of 8.01 and a quick ratio of 7.92.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its earnings results on Wednesday, May 8th. The company reported ($1.01) EPS for the quarter, topping the consensus estimate of ($1.15) by $0.14. The company had revenue of $27.61 million for the quarter, compared to analysts’ expectations of $17.94 million. As a group, sell-side analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.75 earnings per share for the current year.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Jennison Associates LLC acquired a new stake in shares of Tarsus Pharmaceuticals during the first quarter valued at $48,380,000. Assenagon Asset Management S.A. purchased a new position in shares of Tarsus Pharmaceuticals during the 2nd quarter worth about $28,904,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Tarsus Pharmaceuticals by 1,113.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 898,000 shares of the company’s stock worth $32,642,000 after acquiring an additional 824,000 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Tarsus Pharmaceuticals in the first quarter valued at approximately $12,640,000. Finally, Vanguard Group Inc. increased its position in Tarsus Pharmaceuticals by 25.6% during the third quarter. Vanguard Group Inc. now owns 1,551,802 shares of the company’s stock worth $27,576,000 after purchasing an additional 316,128 shares during the last quarter. 90.01% of the stock is 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.