Bank of New York Mellon Corp Has $5.64 Million Holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Bank of New York Mellon Corp boosted its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 0.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 101,928 shares of the company’s stock after purchasing an additional 498 shares during the quarter. Bank of New York Mellon Corp’s holdings in Tarsus Pharmaceuticals were worth $5,644,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. R Squared Ltd acquired a new position in Tarsus Pharmaceuticals in the fourth quarter worth approximately $53,000. FMR LLC boosted its position in shares of Tarsus Pharmaceuticals by 236.6% in the third quarter. FMR LLC now owns 5,032 shares of the company’s stock valued at $166,000 after acquiring an additional 3,537 shares during the period. Baader Bank Aktiengesellschaft bought a new stake in shares of Tarsus Pharmaceuticals in the fourth quarter valued at approximately $249,000. Intech Investment Management LLC bought a new stake in shares of Tarsus Pharmaceuticals in the third quarter valued at approximately $282,000. Finally, Bleakley Financial Group LLC bought a new stake in shares of Tarsus Pharmaceuticals in the fourth quarter valued at approximately $323,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS stock opened at $48.09 on Monday. The stock has a market cap of $1.85 billion, a P/E ratio of -12.62 and a beta of 1.05. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. The company has a fifty day moving average price of $49.11 and a two-hundred day moving average price of $44.71. Tarsus Pharmaceuticals, Inc. has a one year low of $20.08 and a one year high of $57.28.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. The business had revenue of $66.41 million for the quarter, compared to analyst estimates of $58.80 million. As a group, equities analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on TARS shares. Barclays cut their target price on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Oppenheimer upped their target price on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Guggenheim reissued a “buy” rating and set a $78.00 price target (up from $75.00) on shares of Tarsus Pharmaceuticals in a research note on Monday, February 24th. HC Wainwright reaffirmed a “buy” rating and issued a $73.00 target price on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group increased their price objective on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $63.67.

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.