Tarsus Pharmaceuticals (NASDAQ:TARS) Earns Buy Rating from The Goldman Sachs Group

Tarsus Pharmaceuticals (NASDAQ:TARS)‘s stock had its “buy” rating restated by stock analysts at The Goldman Sachs Group in a research report issued to clients and investors on Thursday, MarketBeat.com reports. They currently have a $116.00 target price on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 51.02% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. Guggenheim decreased their price objective on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Barclays initiated coverage on Tarsus Pharmaceuticals in a report on Wednesday, September 16th. They issued an “overweight” rating and a $110.00 price objective for the company. Jefferies Financial Group raised their target price on Tarsus Pharmaceuticals from $88.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, September 8th. Finally, Mizuho lowered their price target on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $100.86.

Tarsus Pharmaceuticals Price Performance

NASDAQ TARS traded up $1.12 during mid-day trading on Thursday, reaching $76.81. 601,105 shares of the company’s stock traded hands, compared to its average volume of 748,406. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.20 and a quick ratio of 3.17. Tarsus Pharmaceuticals has a 1-year low of $53.89 and a 1-year high of $91.53. The company has a fifty day simple moving average of $71.22 and a 200-day simple moving average of $66.77.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.24). Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%. The business had revenue of $173.91 million during the quarter, compared to analyst estimates of $169.65 million. On average, equities analysts expect that Tarsus Pharmaceuticals will post -4.25 EPS for the current year.

Insider Buying and Selling

In other Tarsus Pharmaceuticals news, Director William Link, PhD sold 12,500 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $78.38, for a total transaction of $979,750.00. Following the sale, the director directly owned 94,487 shares in the company, valued at $7,405,891.06. This represents a 11.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak Azamian sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $90.56, for a total transaction of $905,600.00. Following the completion of the transaction, the chief executive officer directly owned 827,991 shares in the company, valued at approximately $74,982,864.96. This represents a 1.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 48,031 shares of company stock valued at $4,004,227 over the last quarter. 9.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TARS. Rockefeller Capital Management L.P. raised its holdings in shares of Tarsus Pharmaceuticals by 15.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock worth $105,000 after buying an additional 172 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Tarsus Pharmaceuticals by 139.2% during the 1st quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock worth $35,000 after buying an additional 291 shares during the last quarter. Strs Ohio boosted its stake in Tarsus Pharmaceuticals by 4.8% in the first quarter. Strs Ohio now owns 8,800 shares of the company’s stock valued at $617,000 after buying an additional 400 shares in the last quarter. Swiss National Bank raised its stake in Tarsus Pharmaceuticals by 0.8% during the first quarter. Swiss National Bank now owns 62,933 shares of the company’s stock worth $4,415,000 after acquiring an additional 500 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Tarsus Pharmaceuticals by 367.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock valued at $50,000 after purchasing an additional 558 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a commercial-stage ophthalmic pharmaceutical company focused on developing and marketing treatments for eye conditions with significant unmet medical needs. The company’s lead product is XDEMVY (lotilaner ophthalmic solution) 0.25%, a prescription eye drop approved by the U.S. Food and Drug Administration in 2023 for the treatment of Demodex blepharitis, a common eyelid disorder associated with an infestation of Demodex mites.

XDEMVY is designed to target and eliminate Demodex mites, addressing an underlying cause of the disease rather than only managing its symptoms.