Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Up 3.8% – What’s Next?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares traded up 3.8% on Monday. The stock traded as high as $75.78 and last traded at $75.9610. 145,805 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 747,714 shares. The stock had previously closed at $73.16.

Analysts Set New Price Targets

TARS has been the topic of a number of research reports. Zacks Research lowered shares of Tarsus Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 6th. Oppenheimer upped their target price on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Guggenheim reduced their price target on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. The Goldman Sachs Group started coverage on shares of Tarsus Pharmaceuticals in a research report on Thursday, September 24th. They issued a “buy” rating and a $116.00 price target on the stock. Finally, Mizuho decreased their price target on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Tarsus Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $100.86.

Tarsus Pharmaceuticals Stock Performance

The firm has a fifty day simple moving average of $74.50 and a 200 day simple moving average of $67.24. The company has a current ratio of 3.20, a quick ratio of 3.17 and a debt-to-equity ratio of 0.21. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of -69.28 and a beta of 0.44.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings data 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 return on equity of 13.53% and a negative net margin of 7.67%. The firm had revenue of $173.91 million during the quarter, compared to the consensus estimate of $169.65 million. As a group, sell-side analysts expect that Tarsus Pharmaceuticals, Inc. will post -4.25 earnings per share for the current year.

Insider Activity at Tarsus Pharmaceuticals

In related news, CEO Bobak Azamian sold 10,000 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $90.56, for a total value of $905,600.00. Following the completion of the transaction, the chief executive officer directly owned 827,991 shares of the company’s stock, valued at $74,982,864.96. This trade represents a 1.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Lin sold 10,773 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $87.50, for a total value of $942,637.50. Following the completion of the transaction, the insider directly owned 2,547 shares of the company’s stock, valued at approximately $222,862.50. This trade represents a 80.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 48,031 shares of company stock worth $4,004,227. 9.64% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Tarsus Pharmaceuticals during the 2nd quarter worth about $242,705,000. Jupiter Topco LLC bought a new stake in Tarsus Pharmaceuticals in the second quarter valued at about $176,834,000. Janus Henderson Group PLC increased its stake in Tarsus Pharmaceuticals by 16.1% in the first quarter. Janus Henderson Group PLC now owns 2,240,963 shares of the company’s stock valued at $157,223,000 after acquiring an additional 310,638 shares during the period. Assenagon Asset Management S.A. increased its stake in Tarsus Pharmaceuticals by 13.5% in the first quarter. Assenagon Asset Management S.A. now owns 1,280,194 shares of the company’s stock valued at $89,806,000 after acquiring an additional 152,464 shares during the period. Finally, Bank of America Corp DE increased its stake in Tarsus Pharmaceuticals by 57.5% in the first quarter. Bank of America Corp DE now owns 1,194,377 shares of the company’s stock valued at $83,786,000 after acquiring an additional 436,271 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company concentrates on areas of significant unmet need in ophthalmology and aims to address conditions that can affect ocular health, comfort and vision.

Tarsus’ primary product is XDEMVY (lotilaner ophthalmic solution) 0.25%, an eye drop approved by the U.S. Food and Drug Administration in 2023 for the treatment of Demodex blepharitis.