Tarsus Pharmaceuticals (NASDAQ:TARS) Hits New 52-Week High – Time to Buy?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $54.85 and last traded at $53.73, with a volume of 41095 shares traded. The stock had previously closed at $53.26.

Analyst Ratings Changes

TARS has been the subject of several research analyst reports. Oppenheimer upped their price target on shares of Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. The Goldman Sachs Group increased their target price on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Finally, William Blair upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tarsus Pharmaceuticals currently has an average rating of “Buy” and an average target price of $54.20.

Tarsus Pharmaceuticals Stock Performance

The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.99 billion, a PE ratio of -13.65 and a beta of 1.04. The firm’s fifty day moving average price is $46.16 and its 200 day moving average price is $34.88.

Institutional Trading of Tarsus Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Cowen AND Company LLC raised its holdings in shares of Tarsus Pharmaceuticals by 3.5% during the 2nd quarter. Cowen AND Company LLC now owns 2,197,385 shares of the company’s stock valued at $59,725,000 after purchasing an additional 74,855 shares in the last quarter. Jennison Associates LLC raised its holdings in Tarsus Pharmaceuticals by 47.2% during the third quarter. Jennison Associates LLC now owns 2,178,580 shares of the company’s stock valued at $71,653,000 after buying an additional 698,712 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Tarsus Pharmaceuticals by 7.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,141,247 shares of the company’s stock worth $37,536,000 after buying an additional 77,825 shares during the last quarter. Ikarian Capital LLC boosted its stake in shares of Tarsus Pharmaceuticals by 28.7% during the 3rd quarter. Ikarian Capital LLC now owns 1,030,277 shares of the company’s stock worth $33,886,000 after acquiring an additional 230,000 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Tarsus Pharmaceuticals by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 835,790 shares of the company’s stock worth $27,494,000 after acquiring an additional 62,555 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.