Tarsus Pharmaceuticals (NASDAQ:TARS) Sets New 12-Month High – Still a Buy?

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

Wall Street Analyst Weigh In

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

Tarsus Pharmaceuticals Trading Up 0.4 %

The stock has a market capitalization of $2.04 billion, a P/E ratio of -13.98 and a beta of 1.04. 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 stock’s 50 day moving average price is $45.47 and its 200-day moving average price is $34.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TARS. Jennison Associates LLC lifted its stake in shares of Tarsus Pharmaceuticals by 47.2% during the 3rd quarter. Jennison Associates LLC now owns 2,178,580 shares of the company’s stock worth $71,653,000 after purchasing an additional 698,712 shares during the last quarter. Millennium Management LLC lifted its position in shares of Tarsus Pharmaceuticals by 1,259.3% during the second quarter. Millennium Management LLC now owns 348,586 shares of the company’s stock valued at $9,475,000 after buying an additional 322,942 shares during the last quarter. Ally Bridge Group NY LLC bought a new stake in shares of Tarsus Pharmaceuticals in the 3rd quarter valued at about $10,587,000. Vestal Point Capital LP purchased a new position in shares of Tarsus Pharmaceuticals in the 3rd quarter worth approximately $7,565,000. Finally, Ikarian Capital LLC raised 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. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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.