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Tarsus Pharmaceuticals, Inc. (TARS) Moves 8.5% Higher: Will This Strength Last?
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Tarsus Pharmaceuticals, Inc. (TARS - Free Report) shares soared 8.5% in the last trading session to close at $27.98. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 27.4% gain over the past four weeks.
A third-party article reported that Bank of America analysts raised the price target of the stock from $42 to $55 per share, while keeping a ‘Buy’ rating on the stock. This was likely the reason for the rise in share price.
This company is expected to post quarterly loss of $1.36 per share in its upcoming report, which represents a year-over-year change of -177.6%. Revenues are expected to be $4.18 million, down 58.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Tarsus Pharmaceuticals, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TARS going forward to see if this recent jump can turn into more strength down the road.
Tarsus Pharmaceuticals, Inc. is part of the Zacks Medical - Biomedical and Genetics industry. Cytokinetics (CYTK - Free Report) , another stock in the same industry, closed the last trading session 3.3% lower at $79.99. CYTK has returned -0.9% in the past month.
For Cytokinetics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.03. This represents a change of +29% from what the company reported a year ago. Cytokinetics currently has a Zacks Rank of #3 (Hold).
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Tarsus Pharmaceuticals, Inc. (TARS) Moves 8.5% Higher: Will This Strength Last?
Tarsus Pharmaceuticals, Inc. (TARS - Free Report) shares soared 8.5% in the last trading session to close at $27.98. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 27.4% gain over the past four weeks.
A third-party article reported that Bank of America analysts raised the price target of the stock from $42 to $55 per share, while keeping a ‘Buy’ rating on the stock. This was likely the reason for the rise in share price.
This company is expected to post quarterly loss of $1.36 per share in its upcoming report, which represents a year-over-year change of -177.6%. Revenues are expected to be $4.18 million, down 58.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Tarsus Pharmaceuticals, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TARS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Tarsus Pharmaceuticals, Inc. is part of the Zacks Medical - Biomedical and Genetics industry. Cytokinetics (CYTK - Free Report) , another stock in the same industry, closed the last trading session 3.3% lower at $79.99. CYTK has returned -0.9% in the past month.
For Cytokinetics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.03. This represents a change of +29% from what the company reported a year ago. Cytokinetics currently has a Zacks Rank of #3 (Hold).