Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Up – Time to Buy?

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) gapped up before the market opened on Tuesday . The stock had previously closed at $69.59, but opened at $74.55. Tarsus Pharmaceuticals shares last traded at $77.3650, with a volume of 390,998 shares changing hands.

Analyst Ratings Changes

TARS has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Thursday, January 22nd. Zacks Research raised shares of Tarsus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Barclays initiated coverage on Tarsus Pharmaceuticals in a research report on Monday, December 8th. They issued an “overweight” rating and a $100.00 price objective for the company. Wall Street Zen upgraded Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Mizuho initiated coverage on Tarsus Pharmaceuticals in a research note on Thursday, November 20th. They issued an “outperform” rating and a $100.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.29.

Tarsus Pharmaceuticals Trading Up 7.4%

The company has a quick ratio of 4.25, a current ratio of 4.29 and a debt-to-equity ratio of 0.22. The business has a 50-day simple moving average of $72.32 and a 200-day simple moving average of $68.16. The company has a market cap of $3.17 billion, a PE ratio of -37.42, a price-to-earnings-growth ratio of 0.96 and a beta of 0.57.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings data on Monday, February 23rd. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Tarsus Pharmaceuticals had a negative net margin of 22.17% and a negative return on equity of 26.29%. The firm had revenue of $151.67 million during the quarter, compared to analyst estimates of $144.56 million. On average, analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Insider Activity

In other news, CEO Bobak R. Azamian sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $82.51, for a total value of $495,060.00. Following the completion of the transaction, the chief executive officer owned 857,991 shares of the company’s stock, valued at approximately $70,792,837.41. This trade represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Dianne C. Whitfield sold 7,397 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $80.10, for a total transaction of $592,499.70. Following the sale, the insider directly owned 38,958 shares in the company, valued at approximately $3,120,535.80. The trade was a 15.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Tarsus Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. State of Wisconsin Investment Board boosted its holdings in Tarsus Pharmaceuticals by 1.1% in the fourth quarter. State of Wisconsin Investment Board now owns 31,912 shares of the company’s stock valued at $2,613,000 after purchasing an additional 332 shares during the period. Federated Hermes Inc. boosted its stake in shares of Tarsus Pharmaceuticals by 0.6% in the 2nd quarter. Federated Hermes Inc. now owns 55,021 shares of the company’s stock valued at $2,229,000 after buying an additional 339 shares during the period. Valeo Financial Advisors LLC grew its position in shares of Tarsus Pharmaceuticals by 11.1% during the fourth quarter. Valeo Financial Advisors LLC now owns 3,915 shares of the company’s stock worth $321,000 after buying an additional 392 shares in the last quarter. Creative Planning increased its stake in shares of Tarsus Pharmaceuticals by 3.3% during the third quarter. Creative Planning now owns 12,367 shares of the company’s stock worth $735,000 after buying an additional 393 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Tarsus Pharmaceuticals by 26.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,063 shares of the company’s stock valued at $169,000 after acquiring an additional 431 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company’s research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus’s lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.