Lord Abbett & CO. LLC Purchases 131,636 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Lord Abbett & CO. LLC boosted its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 28.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 594,876 shares of the company’s stock after purchasing an additional 131,636 shares during the period. Lord Abbett & CO. LLC’s holdings in Tarsus Pharmaceuticals were worth $19,565,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TARS. Quest Partners LLC bought a new stake in Tarsus Pharmaceuticals in the second quarter worth $61,000. Canada Pension Plan Investment Board acquired a new position in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at about $114,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Tarsus Pharmaceuticals by 33.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company’s stock valued at $166,000 after acquiring an additional 1,530 shares in the last quarter. FMR LLC lifted its holdings in Tarsus Pharmaceuticals by 236.6% in the 3rd quarter. FMR LLC now owns 5,032 shares of the company’s stock worth $166,000 after purchasing an additional 3,537 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in Tarsus Pharmaceuticals during the second quarter worth approximately $202,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Tarsus Pharmaceuticals Trading Up 2.8 %

Shares of Tarsus Pharmaceuticals stock opened at $52.50 on Monday. The company’s fifty day moving average price is $44.72 and its two-hundred day moving average price is $34.37. The firm has a market capitalization of $2.01 billion, a PE ratio of -13.78 and a beta of 1.04. Tarsus Pharmaceuticals, Inc. has a 52-week low of $18.30 and a 52-week high of $54.44. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38.

Analyst Upgrades and Downgrades

TARS has been the subject of several recent analyst reports. William Blair raised shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Oppenheimer raised their price target on Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Finally, 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 research note on Friday, November 15th. One equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $54.20.

Tarsus Pharmaceuticals 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.