Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Down 6.3% – What’s Next?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares traded down 6.3% during mid-day trading on Tuesday . The stock traded as low as $43.61 and last traded at $44.06. 648,444 shares changed hands during trading, a decline of 32% from the average session volume of 950,679 shares. The stock had previously closed at $47.02.

Analyst Upgrades and Downgrades

TARS has been the topic of a number of research analyst reports. Oppenheimer boosted their price target on Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. The Goldman Sachs Group boosted their target price on shares of Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $54.20.

Tarsus Pharmaceuticals Trading Up 0.8 %

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 cap of $1.79 billion, a P/E ratio of -12.31 and a beta of 1.02. The stock has a 50 day simple moving average of $51.01 and a 200-day simple moving average of $38.08.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Quest Partners LLC purchased a new position in shares of Tarsus Pharmaceuticals in the 2nd quarter worth $61,000. Canada Pension Plan Investment Board bought a new position in shares of Tarsus Pharmaceuticals in the 2nd quarter valued at about $114,000. FMR LLC grew its position in Tarsus Pharmaceuticals by 236.6% in the third quarter. FMR LLC now owns 5,032 shares of the company’s stock worth $166,000 after acquiring an additional 3,537 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in Tarsus Pharmaceuticals during the second quarter worth approximately $202,000. Finally, SG Americas Securities LLC raised its position in Tarsus Pharmaceuticals by 87.5% during the third quarter. SG Americas Securities LLC now owns 7,242 shares of the company’s stock valued at $238,000 after purchasing an additional 3,379 shares during the period. Hedge funds and other institutional investors 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.