Tang Capital Management LLC recently announced the acquisition of new stake in Tarsus Pharmaceuticals Inc. (NASDAQ:TARS). The institutional investor has increased its shareholding in the Healthcare company by 0.26% to 2.09 million shares with purchase of 5486.0 shares. This fresh investment now brings its stake to 7.84% valued currently at $30.64 million. In addition, RTW Investments LP raised its holdings by 9578.0 to 2.02 million shares. And Cormorant Asset Management LP has lifted its position by 5.14% or 96422.0 shares – to 1.97 million shares.
With over 0.13 million Tarsus Pharmaceuticals Inc. (TARS) shares trading Friday and a closing price of $14.54 on the day, the dollar volume was approximately $1.91 million. The shares have shown a negative half year performance of -0.75% and its price on 01/13/23 lost nearly -0.21%. Currently, there are 26.66M common shares owned by the public and among those 23.15M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for TARS have a consensus price objective of $50.17. The analysts have set the share’s price value over the next 12 months at a high of $66.00 and a low of $40.00. The average price target is 70.15% above its recent price level and an upside to the estimated low will see the stock gain 63.65% over that period. But an upside of 77.97% will see the stock hit the forecast high price target while median target price for the stock is $44.00.
Insiders at the company have transacted a total of 40 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 160,478 shares. Insider sales of the common stock occurred on 30 occasions, with total insider shares sold totaling 1,042,339 shares.
The top 3 mutual fund holders in Tarsus Pharmaceuticals Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.55 million shares of the company’s stock, all valued at over $8.02 million. iShares Russell 2000 ETF sold 4087.0 shares to see its total holdings shrink to 0.39 million shares valued at over $5.77 million and representing 1.48% of the shares outstanding. Vanguard Extended Market Index Fu sold 4512.0 shares to bring its total holdings to over 0.28 million shares at a value of $4.11 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.05% of the shares outstanding.
Shares of Tarsus Pharmaceuticals Inc. (NASDAQ: TARS) opened at $14.50, down -$0.07 from a prior closing price of $14.57. However, the script later moved the day high at 14.76, down -0.21%. The company’s stock has a 5-day price change of -2.81% and -16.39% over the past three months. TARS shares are trading -0.82% year to date (YTD), with the 12-month market performance down to -33.91% lower. It has a 12-month low price of $10.80 and touched a high of $22.58 over the same period. TARS has an average intraday trading volume of 96.91K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.46%, -9.43%, and -7.94% respectively.
Institutional ownership of Tarsus Pharmaceuticals Inc. (NASDAQ: TARS) shares accounts for 77.10% of the company’s 26.66M shares outstanding. Mutual fund holders own 21.83%, while other institutional holders and individual stakeholders account for 48.74% and 11.98% respectively.
It has a market capitalization of $388.65M. The earnings-per-share (ttm) stands at -$2.77. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.61% over the week and 5.31% over the month.
Analysts forecast that Tarsus Pharmaceuticals Inc. (TARS) will achieve an EPS of -$0.97 for the current quarter, -$0.82 for the next quarter and -$4.99 for 2023. The lowest estimate earnings-per-share for the quarter is -$1.68 while analysts give the company a high EPS estimate of -$0.67. Comparatively, EPS for the current quarter was -$0.76 a year ago. Earnings per share for the fiscal year are expected to increase by 48.60%, and -95.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Tarsus Pharmaceuticals Inc. (TARS) as a “Strong Buy” at a consensus score of 1.40. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 0 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TARS, a number of firms have released research notes about the stock. Barclays stated their Overweight rating for the stock in a research note on August 01, 2022, with the firm’s price target at $40. H.C. Wainwright coverage for the Tarsus Pharmaceuticals Inc. (TARS) stock in a research note released on December 21, 2021 offered a Buy rating with a price target of $40. Oppenheimer was of a view on November 23, 2021 that the stock is Outperform, while Raymond James gave the stock Strong Buy rating on November 10, 2020, issuing a price target of $39. Ladenburg Thalmann on their part issued Buy rating on November 10, 2020.