Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership reduced its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 691,299 shares of the company’s stock after selling 17,719 shares during the period. Artisan Partners Limited Partnership’s holdings in Tarsus Pharmaceuticals were worth $38,277,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Crowley Wealth Management Inc. acquired a new position in Tarsus Pharmaceuticals during the fourth quarter worth approximately $25,000. R Squared Ltd purchased a new position in shares of Tarsus Pharmaceuticals during the fourth quarter worth approximately $53,000. HighTower Advisors LLC acquired a new position in shares of Tarsus Pharmaceuticals in the 4th quarter valued at $207,000. Victory Capital Management Inc. purchased a new stake in Tarsus Pharmaceuticals in the 4th quarter valued at $223,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in Tarsus Pharmaceuticals in the 4th quarter valued at $227,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 6,000 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the sale, the chief executive officer now directly owns 824,106 shares of the company’s stock, valued at approximately $41,205,300. This represents a 0.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Bryan Wahl sold 3,341 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total transaction of $154,654.89. Following the transaction, the general counsel now owns 58,057 shares of the company’s stock, valued at $2,687,458.53. This trade represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,542 shares of company stock valued at $1,581,173. Corporate insiders own 8.25% of the company’s stock.

Tarsus Pharmaceuticals Trading Up 2.2 %

Shares of TARS stock opened at $51.74 on Friday. The business’s fifty day moving average price is $49.00 and its 200 day moving average price is $46.00. The firm has a market capitalization of $1.99 billion, a PE ratio of -13.58 and a beta of 1.05. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. Tarsus Pharmaceuticals, Inc. has a 1-year low of $20.08 and a 1-year high of $57.28.

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

About Tarsus Pharmaceuticals

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.