Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Down 2.9% – Here’s Why

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s stock price dropped 2.9% on Monday . The stock traded as low as $48.74 and last traded at $48.52. Approximately 93,823 shares traded hands during trading, a decline of 85% from the average daily volume of 643,786 shares. The stock had previously closed at $49.97.

Analyst Ratings Changes

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

Tarsus Pharmaceuticals Price Performance

The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30. The business’s fifty day moving average is $48.48 and its 200 day moving average is $45.46. The company has a market cap of $1.95 billion, a P/E ratio of -13.33 and a beta of 1.05.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.08. The firm had revenue of $66.41 million for the quarter, compared to analysts’ expectations of $58.80 million. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. As a group, sell-side analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 8,534 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were 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. The trade was a 13.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Bryan Wahl sold 3,341 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total value of $154,654.89. Following the sale, the general counsel now owns 58,057 shares in the company, valued at approximately $2,687,458.53. This represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,542 shares of company stock valued at $1,281,173 over the last three months. 8.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of TARS. Toronto Dominion Bank bought a new position in shares of Tarsus Pharmaceuticals in the fourth quarter valued at approximately $105,714,000. GF Fund Management CO. LTD. purchased a new position in shares of Tarsus Pharmaceuticals during the 4th quarter valued at $44,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in shares of Tarsus Pharmaceuticals in the fourth quarter worth $3,278,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tarsus Pharmaceuticals by 18.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 69,826 shares of the company’s stock worth $3,866,000 after buying an additional 10,991 shares in the last quarter. Finally, Woodline Partners LP boosted its stake in Tarsus Pharmaceuticals by 52.3% during the fourth quarter. Woodline Partners LP now owns 108,986 shares of the company’s stock valued at $6,035,000 after buying an additional 37,417 shares during the period. 90.01% of the stock is currently owned by institutional investors.

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.