HC Wainwright Boosts Tarsus Pharmaceuticals (NASDAQ:TARS) Price Target to $61.00

Tarsus Pharmaceuticals (NASDAQ:TARS) had its price objective raised by HC Wainwright from $57.00 to $61.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Tarsus Pharmaceuticals’ Q2 2024 earnings at ($0.90) EPS, Q3 2024 earnings at ($0.89) EPS, Q4 2024 earnings at ($0.90) EPS, FY2024 earnings at ($3.70) EPS, FY2025 earnings at ($1.40) EPS, FY2026 earnings at $2.79 EPS, FY2027 earnings at $5.14 EPS and FY2028 earnings at $5.69 EPS.

A number of other research analysts also recently weighed in on the company. Jefferies Financial Group lifted their price target on Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the company a buy rating in a report on Wednesday, March 6th. Barclays upped their target price on Tarsus Pharmaceuticals from $50.00 to $60.00 and gave the company an overweight rating in a report on Friday, May 10th. Oppenheimer raised their price target on shares of Tarsus Pharmaceuticals from $59.00 to $61.00 and gave the stock an outperform rating in a report on Thursday, May 9th. Finally, The Goldman Sachs Group upped their price objective on shares of Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the company a neutral rating in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tarsus Pharmaceuticals presently has a consensus rating of Moderate Buy and an average target price of $50.38.

Tarsus Pharmaceuticals Stock Performance

NASDAQ TARS traded down $0.92 on Monday, hitting $37.66. 88,516 shares of the company were exchanged, compared to its average volume of 707,555. Tarsus Pharmaceuticals has a twelve month low of $12.57 and a twelve month high of $42.50. The company’s 50 day moving average price is $34.42 and its 200-day moving average price is $27.00. 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 quarterly earnings results on Tuesday, February 27th. The company reported ($1.31) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.06. The firm had revenue of $13.08 million during the quarter, compared to analysts’ expectations of $4.63 million. During the same quarter last year, the company posted ($0.49) EPS. Analysts anticipate that Tarsus Pharmaceuticals will post -3.92 earnings per share for the current year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, COO Seshadri Neervannan sold 4,879 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $30.60, for a total value of $149,297.40. Following the completion of the sale, the chief operating officer now owns 64,767 shares of the company’s stock, valued at $1,981,870.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Seshadri Neervannan sold 4,879 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $30.60, for a total value of $149,297.40. Following the completion of the sale, the chief operating officer now directly owns 64,767 shares in the company, valued at $1,981,870.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Bryan Wahl sold 4,436 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $30.60, for a total value of $135,741.60. Following the sale, the general counsel now owns 40,951 shares of the company’s stock, valued at approximately $1,253,100.60. The disclosure for this sale can be found here. Insiders sold 24,496 shares of company stock worth $749,578 over the last ninety days. 11.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. Jennison Associates LLC acquired a new position in shares of Tarsus Pharmaceuticals in the first quarter valued at $48,380,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Tarsus Pharmaceuticals by 1,113.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 898,000 shares of the company’s stock valued at $32,642,000 after buying an additional 824,000 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in Tarsus Pharmaceuticals in the 3rd quarter valued at $13,399,000. Artisan Partners Limited Partnership acquired a new position in shares of Tarsus Pharmaceuticals in the 3rd quarter valued at $7,093,000. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Tarsus Pharmaceuticals during the 1st quarter worth about $12,640,000. 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.