Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Up – Should You Buy?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) gapped up prior to trading on Monday . The stock had previously closed at $39.41, but opened at $41.01. Tarsus Pharmaceuticals shares last traded at $39.39, with a volume of 73,455 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TARS shares. William Blair upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Oppenheimer reissued an “outperform” rating and issued a $63.00 price objective (up from $61.00) on shares of Tarsus Pharmaceuticals in a report on Friday, August 9th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tarsus Pharmaceuticals currently has an average rating of “Buy” and an average price target of $51.60.

Tarsus Pharmaceuticals Stock Performance

The stock has a market cap of $1.67 billion, a P/E ratio of -9.79 and a beta of 1.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 7.03 and a quick ratio of 6.99. The company has a fifty day moving average of $32.78 and a 200 day moving average of $31.28.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($0.98) by $0.10. The business had revenue of $40.81 million during the quarter, compared to analyst estimates of $31.30 million. Tarsus Pharmaceuticals had a negative return on equity of 63.99% and a negative net margin of 180.00%. During the same quarter in the prior year, the firm posted ($1.17) earnings per share. On average, equities analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. Swiss National Bank grew its position in Tarsus Pharmaceuticals by 1.4% in the first quarter. Swiss National Bank now owns 42,433 shares of the company’s stock worth $1,542,000 after buying an additional 600 shares during the last quarter. Alpha DNA Investment Management LLC grew its holdings in shares of Tarsus Pharmaceuticals by 9.1% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 15,174 shares of the company’s stock worth $412,000 after acquiring an additional 1,261 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Tarsus Pharmaceuticals by 33.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company’s stock worth $166,000 after purchasing an additional 1,530 shares during the period. Profund Advisors LLC lifted its holdings in shares of Tarsus Pharmaceuticals by 26.8% during the second quarter. Profund Advisors LLC now owns 9,126 shares of the company’s stock valued at $248,000 after purchasing an additional 1,929 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Tarsus Pharmaceuticals in the 2nd quarter valued at $61,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.