Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak R. Azamian Sells 6,000 Shares

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak R. Azamian sold 6,000 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief executive officer now owns 824,106 shares of the company’s stock, valued at approximately $41,205,300. This trade represents a 0.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Tarsus Pharmaceuticals Stock Up 2.2 %

TARS opened at $51.74 on Friday. The business has a 50 day simple moving average of $49.00 and a 200-day simple moving average of $46.00. Tarsus Pharmaceuticals, Inc. has a 12 month low of $20.08 and a 12 month high of $57.28. The stock has a market capitalization of $1.99 billion, a P/E 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 (NASDAQ:TARS) last released its 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. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. The company had revenue of $66.41 million during the quarter, compared to the consensus estimate of $58.80 million. On average, equities analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TARS shares. Barclays reduced their target price 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. Guggenheim reaffirmed a “buy” rating and set a $78.00 price objective (up from $75.00) on shares of Tarsus Pharmaceuticals in a research note on Monday, February 24th. Oppenheimer increased their price objective on 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 boosted 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 report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tarsus Pharmaceuticals has an average rating of “Buy” and an average price target of $63.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TARS. Summit Investment Advisors Inc. boosted its stake in shares of Tarsus Pharmaceuticals by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,848 shares of the company’s stock worth $213,000 after acquiring an additional 244 shares in the last quarter. Sherbrooke Park Advisers LLC raised its holdings in Tarsus Pharmaceuticals by 7.2% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 6,571 shares of the company’s stock worth $364,000 after purchasing an additional 443 shares during the last quarter. Crowley Wealth Management Inc. purchased a new stake in Tarsus Pharmaceuticals during the fourth quarter worth $25,000. Bank of New York Mellon Corp grew its holdings in Tarsus Pharmaceuticals by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 101,928 shares of the company’s stock valued at $5,644,000 after purchasing an additional 498 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Tarsus Pharmaceuticals by 1.2% in the fourth quarter. Swiss National Bank now owns 52,333 shares of the company’s stock valued at $2,898,000 after buying an additional 600 shares in the last quarter. 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.