Tarsus Pharmaceuticals (NASDAQ:TARS) Stock Moved Up to Hold by Zacks Research

Zacks Research upgraded shares of Tarsus Pharmaceuticals (NASDAQ:TARS) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday,Zacks reports.

Other research analysts have also issued reports about the stock. HC Wainwright reissued a “buy” rating and set a $88.00 target price on shares of Tarsus Pharmaceuticals in a research note on Thursday, July 9th. The Goldman Sachs Group began coverage on shares of Tarsus Pharmaceuticals in a research note on Thursday, September 24th. They issued a “buy” rating and a $116.00 price target on the stock. Jefferies Financial Group raised their price target on shares of Tarsus Pharmaceuticals from $88.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, September 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Finally, Guggenheim cut their price target on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.86.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS opened at $72.29 on Tuesday. Tarsus Pharmaceuticals has a 1 year low of $53.89 and a 1 year high of $91.53. The company has a market cap of $3.17 billion, a price-to-earnings ratio of -66.32 and a beta of 0.44. 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 fifty day moving average of $75.17 and a 200-day moving average of $67.38.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $169.65 million. As a group, equities analysts anticipate that Tarsus Pharmaceuticals will post -4.25 earnings per share for the current year.

Insider Transactions at Tarsus Pharmaceuticals

In other news, Director William Link, PhD sold 12,500 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $78.38, for a total value of $979,750.00. Following the completion of the transaction, the director owned 94,487 shares of the company’s stock, valued at approximately $7,405,891.06. This represents a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak Azamian sold 10,000 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $90.56, for a total value of $905,600.00. Following the transaction, the chief executive officer directly owned 827,991 shares in the company, valued at $74,982,864.96. This trade represents a 1.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 48,031 shares of company stock valued at $4,004,227. 9.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of TARS. Farther Finance Advisors LLC lifted its holdings in Tarsus Pharmaceuticals by 851.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 590 shares of the company’s stock valued at $46,000 after acquiring an additional 528 shares during the last quarter. Engineers Gate Manager LP boosted its position in shares of Tarsus Pharmaceuticals by 66.5% during the 2nd quarter. Engineers Gate Manager LP now owns 4,755 shares of the company’s stock valued at $299,000 after purchasing an additional 1,900 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Tarsus Pharmaceuticals by 22.7% in the 2nd quarter. Squarepoint Ops LLC now owns 295,824 shares of the company’s stock worth $18,619,000 after purchasing an additional 54,791 shares during the last quarter. Nykredit A S acquired a new position in shares of Tarsus Pharmaceuticals in the 2nd quarter worth approximately $106,000. Finally, Pale Fire Capital SE grew its stake in shares of 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 last quarter. Institutional investors 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.