Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Down 5.3% – Should You Sell?

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) were down 5.3% during trading on Thursday . The stock traded as low as $52.57 and last traded at $53.93. Approximately 106,482 shares traded hands during trading, a decline of 83% from the average daily volume of 642,974 shares. The stock had previously closed at $56.94.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Oppenheimer upped their price target on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Finally, Barclays increased their price target on Tarsus Pharmaceuticals from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tarsus Pharmaceuticals presently has an average rating of “Buy” and an average target price of $56.00.

Tarsus Pharmaceuticals Stock Performance

The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -13.90 and a beta of 1.01. The firm’s 50-day moving average is $52.01 and its two-hundred day moving average is $40.69. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of Tarsus Pharmaceuticals by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 101,928 shares of the company’s stock worth $5,644,000 after buying an additional 498 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Tarsus Pharmaceuticals by 10.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,106 shares of the company’s stock valued at $449,000 after acquiring an additional 789 shares in the last quarter. R Squared Ltd acquired a new stake in Tarsus Pharmaceuticals in the 4th quarter valued at about $53,000. Rhumbline Advisers raised its holdings in Tarsus Pharmaceuticals by 2.1% in the 4th quarter. Rhumbline Advisers now owns 49,534 shares of the company’s stock valued at $2,743,000 after acquiring an additional 1,019 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Tarsus Pharmaceuticals by 9.3% in the 3rd quarter. Franklin Resources Inc. now owns 12,164 shares of the company’s stock worth $444,000 after purchasing an additional 1,033 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

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.