Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Down – Should You Sell?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares gapped down prior to trading on Friday . The stock had previously closed at $51.08, but opened at $49.20. Tarsus Pharmaceuticals shares last traded at $51.00, with a volume of 44,744 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on TARS shares. Oppenheimer raised their target price on Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. William Blair raised shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Finally, The Goldman Sachs Group raised their price target on shares of Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tarsus Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $54.20.

Tarsus Pharmaceuticals Price Performance

The business’s 50-day moving average price is $44.35 and its 200 day moving average price is $34.25. The stock has a market capitalization of $1.94 billion, a PE ratio of -13.34 and a beta of 1.04. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TARS. Quest Partners LLC purchased a new position in Tarsus Pharmaceuticals in the second quarter worth $61,000. Canada Pension Plan Investment Board purchased a new position in Tarsus Pharmaceuticals in the second quarter worth $114,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Tarsus Pharmaceuticals by 33.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company’s stock worth $166,000 after acquiring an additional 1,530 shares in the last quarter. FMR LLC grew its position in Tarsus Pharmaceuticals by 236.6% in the third quarter. FMR LLC now owns 5,032 shares of the company’s stock worth $166,000 after acquiring an additional 3,537 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in Tarsus Pharmaceuticals in the second quarter worth $202,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Company Profile

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.