Tarsus Pharmaceuticals (NASDAQ:TARS) Reaches New 1-Year High – Still a Buy?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $57.18 and last traded at $57.05, with a volume of 228659 shares trading hands. The stock had previously closed at $54.50.

Analysts Set New Price Targets

TARS has been the subject of several research reports. The Goldman Sachs Group boosted their price objective on shares of Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Oppenheimer increased their price objective on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Finally, Barclays lifted their price objective on shares of Tarsus Pharmaceuticals from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tarsus Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $56.00.

Tarsus Pharmaceuticals Price Performance

The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -14.96 and a beta of 1.01. The company has a fifty day moving average price of $51.82 and a two-hundred day moving average price of $40.31.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jennison Associates LLC increased its position in Tarsus Pharmaceuticals by 14.8% in the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock valued at $138,432,000 after acquiring an additional 321,552 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Tarsus Pharmaceuticals by 0.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,146,812 shares of the company’s stock valued at $63,499,000 after purchasing an additional 5,565 shares during the period. Ikarian Capital LLC lifted its holdings in shares of Tarsus Pharmaceuticals by 28.7% during the third quarter. Ikarian Capital LLC now owns 1,030,277 shares of the company’s stock worth $33,886,000 after purchasing an additional 230,000 shares during the period. Geode Capital Management LLC grew its position in Tarsus Pharmaceuticals by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 835,790 shares of the company’s stock valued at $27,494,000 after buying an additional 62,555 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in Tarsus Pharmaceuticals by 28.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 594,876 shares of the company’s stock valued at $19,565,000 after buying an additional 131,636 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

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.