Tarsus Pharmaceuticals (NASDAQ:TARS) Trading 6.5% Higher – Time to Buy?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s stock price traded up 6.5% during mid-day trading on Wednesday . The stock traded as high as $78.43 and last traded at $78.88. Approximately 236,637 shares traded hands during trading, a decline of 68% from the average session volume of 734,863 shares. The stock had previously closed at $74.05.

Analyst Ratings Changes

A number of equities analysts have recently commented on TARS shares. Guggenheim cut their price target on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Mizuho decreased their price objective on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Oppenheimer increased their price objective on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Wall Street Zen downgraded Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $88.00 target price on shares of Tarsus Pharmaceuticals in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.50.

Tarsus Pharmaceuticals Stock Up 0.5%

The company’s 50 day simple moving average is $65.45 and its 200-day simple moving average is $65.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.17 and a current ratio of 3.20. The firm has a market capitalization of $3.65 billion, a PE ratio of -76.34 and a beta of 0.54.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.24). Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%. The firm had revenue of $173.91 million for the quarter, compared to analysts’ expectations of $169.65 million. On average, analysts forecast that Tarsus Pharmaceuticals, Inc. will post -2.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Bobak R. Azamian sold 10,000 shares of Tarsus Pharmaceuticals stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total transaction of $615,500.00. Following the completion of 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 sale was disclosed in a legal 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 William J. Phd Link sold 12,500 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $62.12, for a total value of $776,500.00. Following the transaction, the director directly owned 106,786 shares of the company’s stock, valued at $6,633,546.32. The trade was a 10.48% decrease in their position. 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. Over the last three months, insiders sold 51,428 shares of company stock worth $3,350,810. 9.64% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

A number of large investors have recently modified their holdings of the company. California State Teachers Retirement System lifted its stake in shares of Tarsus Pharmaceuticals by 5,971.9% in the 2nd quarter. California State Teachers Retirement System now owns 2,288,813 shares of the company’s stock valued at $144,058,000 after acquiring an additional 2,251,118 shares during the last quarter. Pale Fire Capital SE increased its stake in Tarsus Pharmaceuticals by 73.4% in the 2nd quarter. Pale Fire Capital SE now owns 9,802 shares of the company’s stock worth $617,000 after purchasing an additional 4,150 shares during the period. Nykredit A S purchased a new position in Tarsus Pharmaceuticals in the 2nd quarter worth approximately $106,000. Hsbc Holdings PLC increased its stake in Tarsus Pharmaceuticals by 295.0% in the 2nd quarter. Hsbc Holdings PLC now owns 38,090 shares of the company’s stock worth $2,429,000 after purchasing an additional 28,447 shares during the period. Finally, Wellington Management Group LLP lifted its position in Tarsus Pharmaceuticals by 149.9% in the second quarter. Wellington Management Group LLP now owns 40,202 shares of the company’s stock valued at $2,530,000 after purchasing an additional 24,117 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

About Tarsus Pharmaceuticals

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.