Tarsus Pharmaceuticals (NASDAQ:TARS) Hits New 52-Week High on Analyst Upgrade

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s share price hit a new 52-week high during mid-day trading on Thursday after Oppenheimer raised their price target on the stock from $63.00 to $65.00. Oppenheimer currently has an outperform rating on the stock. Tarsus Pharmaceuticals traded as high as $52.99 and last traded at $49.56, with a volume of 99352 shares traded. The stock had previously closed at $46.51.

Separately, William Blair raised shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $52.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TARS. Quest Partners LLC purchased a new stake in Tarsus Pharmaceuticals during the 2nd quarter valued at about $61,000. Canada Pension Plan Investment Board purchased a new stake in Tarsus Pharmaceuticals in the second quarter valued at approximately $114,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Tarsus Pharmaceuticals by 33.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company’s stock worth $166,000 after buying an additional 1,530 shares during the period. FMR LLC raised its position in Tarsus Pharmaceuticals by 236.6% during the 3rd quarter. FMR LLC now owns 5,032 shares of the company’s stock worth $166,000 after buying an additional 3,537 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in Tarsus Pharmaceuticals during the 2nd quarter valued at approximately $202,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Price Performance

The firm has a market capitalization of $1.89 billion, a PE ratio of -10.38 and a beta of 1.00. The firm’s fifty day moving average price is $37.17 and its 200 day moving average price is $32.33. The company has a current ratio of 7.03, a quick ratio of 6.99 and a debt-to-equity ratio of 0.28.

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.