Tarsus Pharmaceuticals (NASDAQ:TARS) Cut to “Hold” at Wall Street Zen

Tarsus Pharmaceuticals (NASDAQ:TARS) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

Several other equities analysts have also issued reports on TARS. Lifesci Capital raised Tarsus Pharmaceuticals to a “strong-buy” rating in a research note on Monday, March 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Tuesday, April 21st. Oppenheimer started coverage on shares of Tarsus Pharmaceuticals in a research note on Friday, April 24th. They issued an “outperform” rating and a $98.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and issued a $88.00 price target on shares of Tarsus Pharmaceuticals in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Tarsus Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $90.67.

Tarsus Pharmaceuticals Trading Down 9.4%

Shares of NASDAQ TARS traded down $6.00 during midday trading on Friday, reaching $58.14. The stock had a trading volume of 2,367,158 shares, compared to its average volume of 1,085,784. The company’s 50 day moving average price is $62.57 and its 200 day moving average price is $67.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.71 and a current ratio of 3.74. Tarsus Pharmaceuticals has a twelve month low of $38.51 and a twelve month high of $85.25. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -51.00 and a beta of 0.50.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative net margin of 9.02% and a negative return on equity of 14.19%. The business had revenue of $162.05 million for the quarter, compared to analyst estimates of $149.60 million. As a group, sell-side analysts expect that Tarsus Pharmaceuticals will post -0.86 EPS for the current year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In related news, Director Katherine Goodrich sold 2,954 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $62.08, for a total value of $183,384.32. Following the sale, the director owned 2,233 shares in the company, valued at $138,624.64. This represents a 56.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Phd Link sold 12,500 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $62.12, for a total transaction of $776,500.00. Following the completion of the transaction, the director directly owned 106,786 shares in the company, valued at approximately $6,633,546.32. The trade was a 10.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 39,850 shares of company stock worth $2,452,821. Corporate insiders own 9.64% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Parallel Advisors LLC grew its holdings in Tarsus Pharmaceuticals by 139.2% during the first quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock worth $35,000 after buying an additional 291 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Tarsus Pharmaceuticals by 367.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock valued at $50,000 after acquiring an additional 558 shares in the last quarter. Comerica Bank lifted its stake in Tarsus Pharmaceuticals by 470.0% during the 4th quarter. Comerica Bank now owns 855 shares of the company’s stock valued at $70,000 after acquiring an additional 705 shares in the last quarter. Truvestments Capital LLC boosted its holdings in Tarsus Pharmaceuticals by 106.1% during the 4th quarter. Truvestments Capital LLC now owns 909 shares of the company’s stock worth $74,000 after acquiring an additional 468 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Tarsus Pharmaceuticals by 15.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock worth $105,000 after acquiring an additional 172 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company’s research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus’s lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.