Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Receives $90.50 Consensus PT from Analysts

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $90.50.

TARS has been the subject of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $88.00 price target on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Oppenheimer upped their price objective on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Mizuho lowered their target price on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Friday, July 17th. Finally, Guggenheim dropped their target price on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st.

Tarsus Pharmaceuticals Trading Up 0.6%

Tarsus Pharmaceuticals stock opened at $71.03 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.17 and a current ratio of 3.20. Tarsus Pharmaceuticals has a fifty-two week low of $48.20 and a fifty-two week high of $85.25. The stock has a market cap of $3.12 billion, a P/E ratio of -65.16 and a beta of 0.53. The firm’s fifty day moving average price is $62.82 and its 200-day moving average price is $64.93.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The business had revenue of $173.91 million for the quarter, compared to the consensus estimate of $169.65 million. Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%. Equities research analysts forecast that Tarsus Pharmaceuticals will post -2.06 earnings per share for the current fiscal year.

Insider Activity at Tarsus Pharmaceuticals

In other news, CEO Bobak R. Azamian sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total transaction of $615,500.00. Following the sale, the chief executive officer owned 847,991 shares in the company, valued at approximately $52,193,846.05. This trade represents a 1.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Katherine Goodrich sold 2,954 shares of Tarsus Pharmaceuticals stock in a transaction on Monday, June 15th. The stock was sold at an average price of $62.08, for a total transaction of $183,384.32. Following the sale, the director directly owned 2,233 shares of the company’s stock, valued at $138,624.64. This represents a 56.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 39,850 shares of company stock worth $2,452,821 over the last quarter. 9.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in TARS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Tarsus Pharmaceuticals by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock worth $1,137,000 after purchasing an additional 1,217 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Tarsus Pharmaceuticals by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,220 shares of the company’s stock valued at $3,659,000 after buying an additional 1,394 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Tarsus Pharmaceuticals by 105.8% during the 1st quarter. Jane Street Group LLC now owns 10,456 shares of the company’s stock valued at $537,000 after buying an additional 190,000 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Tarsus Pharmaceuticals by 402.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 140,610 shares of the company’s stock worth $5,696,000 after buying an additional 112,637 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Tarsus Pharmaceuticals by 12.3% in the 2nd quarter. Invesco Ltd. now owns 928,501 shares of the company’s stock worth $37,614,000 after buying an additional 101,978 shares during the last quarter. Hedge funds and other 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.