Does Tarsus Pharmaceuticals Inc (TARS) offer a good opportunity for investors?

Tarsus Pharmaceuticals Inc (NASDAQ: TARS) stock jumped 6.37% on Friday to $18.86 against a previous-day closing price of $17.73. With 0.42 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.47 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $18.88 whereas the lowest price it dropped to was $17.33. The 52-week range on TARS shows that it touched its highest point at $25.25 and its lowest point at $11.33 during that stretch. It currently has a 1-year price target of $47.25. Beta for the stock currently stands at 0.92.

Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TARS was up-trending over the past week, with a rise of 7.96%, but this was up by 44.52% over a month. Three-month performance surged to 10.16% while six-month performance rose 16.71%. The stock gained 11.73% in the past year, while it has gained 28.65% so far this year. A look at the trailing 12-month EPS for TARS yields -3.83 with Next year EPS estimates of -4.90. For the next quarter, that number is -1.38. This implies an EPS growth rate of -90.72% for this year and -1.89% for next year.

Float and Shares Shorts:

At present, 26.73 million TARS shares are outstanding with a float of 21.93 million shares on hand for trading. On Oct 30, 2023, short shares totaled 4.2 million, which was 12.87% higher than short shares on Sep 28, 2023. In addition to Dr. Bobak R. Azamian M.D. as the firm’s Co-Founder, President, CEO & Chairman, Dr. Bryan Wahl J.D., M.D. serves as its General Counsel & Corporate Secretary.

Institutional Ownership:

Through their ownership of 81.09% of TARS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.29% of TARS, in contrast to 16.10% held by mutual funds. Shares owned by individuals account for 15.20%. As the largest shareholder in TARS with 8.83% of the stake, RTW Investments LP holds 2,880,701 shares worth 2,880,701. A second-largest stockholder of TARS, Cormorant Asset Management LP, holds 2,621,422 shares, controlling over 8.04% of the firm’s shares. Tang Capital Management LLC is the third largest shareholder in TARS, holding 2,140,586 shares or 6.56% stake. With a 2.80% stake in TARS, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 911,649 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.66% of TARS stock, is the second-largest Mutual Fund holder. It holds 542,885 shares valued at 7.73 million. Vanguard Extended Market Index Fu holds 1.23% of the stake in TARS, owning 399,568 shares worth 5.69 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TARS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TARS analysts setting a high price target of $60.00 and a low target of $30.00, the average target price over the next 12 months is $46.71. Based on these targets, TARS could surge 218.13% to reach the target high and rise by 59.07% to reach the target low. Reaching the average price target will result in a growth of 147.67% from current levels.

Summary of Insider Activity:

Insiders traded TARS stock several times over the past three months with 1 Buys and 2 Sells. In these transactions, 1,333 shares were bought while 16,000 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 90 over the past year. The total number of shares bought during that period was 181,856 while 734,906 shares were sold.