Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak R. Azamian Sells 6,000 Shares

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak R. Azamian sold 6,000 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the transaction, the chief executive officer now directly owns 824,106 shares of the company’s stock, valued at $41,205,300. This represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Tarsus Pharmaceuticals Stock Performance

NASDAQ TARS traded down $0.32 on Wednesday, reaching $51.01. The stock had a trading volume of 291,655 shares, compared to its average volume of 641,617. Tarsus Pharmaceuticals, Inc. has a 1-year low of $20.08 and a 1-year high of $57.28. 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 company has a market cap of $1.96 billion, a P/E ratio of -13.39 and a beta of 1.05. The firm has a fifty day moving average of $48.73 and a two-hundred day moving average of $45.78.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.08. The business had revenue of $66.41 million during the quarter, compared to analysts’ expectations of $58.80 million. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. On average, equities research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TARS. Jefferies Financial Group upped their price target on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Barclays decreased their target price on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. HC Wainwright restated a “buy” rating and issued a $73.00 price objective on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $78.00 price target (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a research note on Monday, February 24th. Finally, Oppenheimer raised their target price on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $63.67.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Crowley Wealth Management Inc. bought a new position in Tarsus Pharmaceuticals during the 4th quarter worth $25,000. GF Fund Management CO. LTD. bought a new stake in Tarsus Pharmaceuticals during the fourth quarter worth about $44,000. R Squared Ltd acquired a new stake in Tarsus Pharmaceuticals during the fourth quarter worth about $53,000. Quarry LP acquired a new stake in Tarsus Pharmaceuticals during the fourth quarter worth about $166,000. Finally, HighTower Advisors LLC bought a new position in Tarsus Pharmaceuticals in the 4th quarter valued at about $207,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.