Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Down 2.9% – Time to Sell?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares traded down 2.9% on Monday . The company traded as low as $48.74 and last traded at $48.52. 93,823 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 643,786 shares. The stock had previously closed at $49.97.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TARS shares. Barclays lowered 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. HC Wainwright reiterated a “buy” rating and set a $73.00 price target on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 26th. Oppenheimer raised their price objective on 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 upped their target price on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, Guggenheim reissued a “buy” rating and set a $78.00 price target (up from $75.00) on shares of Tarsus Pharmaceuticals in a research note on Monday, February 24th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $63.67.

Tarsus Pharmaceuticals Trading Up 1.7 %

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

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $58.80 million. Equities research analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Insider Activity at Tarsus Pharmaceuticals

In other news, insider Dianne C. Whitfield sold 2,315 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $107,161.35. Following the completion of the sale, the insider now owns 50,751 shares in the company, valued at $2,349,263.79. The trade was a 4.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Bryan Wahl sold 3,341 shares of the company’s stock in a transaction that occurred 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 transaction, the general counsel now directly owns 58,057 shares in the company, valued at $2,687,458.53. The trade was a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,542 shares of company stock worth $1,281,173 in the last 90 days. Corporate insiders own 8.25% of the company’s stock.

Institutional Trading of Tarsus Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position 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 in the last quarter. Vestal Point Capital LP acquired a new position in Tarsus Pharmaceuticals during the 3rd quarter valued at about $7,565,000. Jennison Associates LLC increased its holdings in Tarsus Pharmaceuticals by 14.8% during the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock worth $138,432,000 after purchasing an additional 321,552 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Tarsus Pharmaceuticals in the third quarter worth approximately $763,000. Finally, Barclays PLC lifted its holdings in shares of Tarsus Pharmaceuticals by 345.9% in the third quarter. Barclays PLC now owns 98,663 shares of the company’s stock valued at $3,246,000 after purchasing an additional 76,538 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

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.