Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak R. Azamian Sells 8,534 Shares

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak R. Azamian sold 8,534 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $50.11, for a total transaction of $427,638.74. Following the sale, the chief executive officer now owns 53,635 shares of the company’s stock, valued at $2,687,649.85. This represents a 13.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tarsus Pharmaceuticals Stock Up 0.7 %

TARS stock traded up $0.36 during midday trading on Thursday, hitting $49.91. The company’s stock had a trading volume of 618,361 shares, compared to its average volume of 639,768. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30. Tarsus Pharmaceuticals, Inc. has a 52-week low of $20.08 and a 52-week high of $57.28. The firm has a market capitalization of $1.92 billion, a P/E ratio of -13.10 and a beta of 1.05. The firm has a 50-day simple moving average of $48.54 and a 200-day simple moving average of $45.06.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.08. The business had revenue of $66.41 million during the quarter, compared to analysts’ expectations of $58.80 million. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. As a group, equities analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays cut their price target on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. HC Wainwright reiterated a “buy” rating and issued a $73.00 target price on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 26th. Oppenheimer lifted their target price on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Jefferies Financial Group lifted their target price on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Finally, Guggenheim reiterated a “buy” rating and issued a $78.00 target price (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $63.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of Tarsus Pharmaceuticals by 2,088.8% during the third quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company’s stock worth $14,477,000 after acquiring an additional 420,057 shares during the period. Vestal Point Capital LP acquired a new position in shares of Tarsus Pharmaceuticals during the third quarter worth about $7,565,000. Jennison Associates LLC increased its stake in shares of Tarsus Pharmaceuticals by 14.8% during the fourth quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock worth $138,432,000 after acquiring an additional 321,552 shares during the period. Verition Fund Management LLC acquired a new position in shares of Tarsus Pharmaceuticals during the third quarter worth about $763,000. Finally, Mutual of America Capital Management LLC acquired a new position in shares of Tarsus Pharmaceuticals during the third quarter worth about $4,291,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for eye care in the United States. The company's lead product candidate is XDEMVY, a novel therapeutic for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.