Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Down – What’s Next?

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) gapped down before the market opened on Monday . The stock had previously closed at $52.69, but opened at $49.97. Tarsus Pharmaceuticals shares last traded at $46.70, with a volume of 205,404 shares changing hands.

Analyst Ratings Changes

A number of analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Oppenheimer upped their target price on shares of Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. One 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $54.20.

Tarsus Pharmaceuticals Stock Down 8.3 %

The company has a market capitalization of $1.85 billion, a PE ratio of -12.68 and a beta of 1.02. The company’s 50 day moving average is $51.02 and its two-hundred day moving average is $37.74. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC grew its stake 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 acquiring an additional 698,712 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Tarsus Pharmaceuticals by 7.3% in the 3rd 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 in the last quarter. Ikarian Capital LLC grew its stake in shares of Tarsus Pharmaceuticals by 28.7% in the 3rd quarter. Ikarian Capital LLC now owns 1,030,277 shares of the company’s stock worth $33,886,000 after buying an additional 230,000 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Tarsus Pharmaceuticals by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 835,790 shares of the company’s stock worth $27,494,000 after buying an additional 62,555 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in shares of Tarsus Pharmaceuticals by 28.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 594,876 shares of the company’s stock worth $19,565,000 after buying an additional 131,636 shares in the last quarter. 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.