Guggenheim Reiterates Buy Rating for Tarsus Pharmaceuticals (NASDAQ:TARS)

Tarsus Pharmaceuticals (NASDAQ:TARS)‘s stock had its “buy” rating restated by research analysts at Guggenheim in a report issued on Monday,Benzinga reports.

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

Tarsus Pharmaceuticals Price Performance

TARS opened at $51.22 on Monday. Tarsus Pharmaceuticals has a 1 year low of $20.08 and a 1 year high of $57.28. The stock has a 50-day moving average price of $52.05 and a 200-day moving average price of $41.22. The firm has a market cap of $1.96 billion, a PE ratio of -13.44 and a beta of 1.01. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC grew 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 worth $138,432,000 after purchasing an additional 321,552 shares during the period. Vanguard Group Inc. boosted its stake in shares of Tarsus Pharmaceuticals by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 2,115,162 shares of the company’s stock worth $117,117,000 after buying an additional 17,839 shares during the last quarter. Assenagon Asset Management S.A. grew 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 worth $63,499,000 after acquiring an additional 5,565 shares during the period. Ikarian Capital LLC increased its position in Tarsus Pharmaceuticals by 28.7% during the third quarter. Ikarian Capital LLC now owns 1,030,277 shares of the company’s stock valued at $33,886,000 after acquiring an additional 230,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Tarsus Pharmaceuticals by 8.1% during the third quarter. Geode Capital Management LLC now owns 835,790 shares of the company’s stock valued at $27,494,000 after acquiring an additional 62,555 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

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.