Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak R. Azamian Sells 8,534 Shares

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak R. Azamian sold 8,534 shares of Tarsus Pharmaceuticals stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $50.11, for a total value of $427,638.74. Following the transaction, the chief executive officer now owns 53,635 shares in the company, valued at approximately $2,687,649.85. This represents a 13.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Tarsus Pharmaceuticals Stock Performance

NASDAQ TARS opened at $49.97 on Friday. The company has a market cap of $1.92 billion, a P/E ratio of -13.12 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 stock has a 50-day moving average of $48.48 and a two-hundred day moving average of $45.21. Tarsus Pharmaceuticals, Inc. has a 1-year low of $20.08 and a 1-year high of $57.28.

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

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Summit Investment Advisors Inc. grew its position in shares of Tarsus Pharmaceuticals by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,848 shares of the company’s stock worth $213,000 after buying an additional 244 shares in the last quarter. Sherbrooke Park Advisers LLC grew its position in shares of Tarsus Pharmaceuticals by 7.2% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 6,571 shares of the company’s stock worth $364,000 after buying an additional 443 shares in the last quarter. Crowley Wealth Management Inc. acquired a new position in shares of Tarsus Pharmaceuticals during the fourth quarter worth about $25,000. Bank of New York Mellon Corp grew its position in shares of Tarsus Pharmaceuticals by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 101,928 shares of the company’s stock worth $5,644,000 after buying an additional 498 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of Tarsus Pharmaceuticals by 1.2% during the fourth quarter. Swiss National Bank now owns 52,333 shares of the company’s stock worth $2,898,000 after buying an additional 600 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays reduced their price target on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Guggenheim reissued a “buy” rating and set a $78.00 price objective (up from $75.00) on shares of Tarsus Pharmaceuticals in a research report on Monday, February 24th. HC Wainwright reissued a “buy” rating and set a $73.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. Oppenheimer raised their price objective on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Finally, Jefferies Financial Group raised their price objective on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. One equities research 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’s stock. According to data from MarketBeat, Tarsus Pharmaceuticals presently has a consensus 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.