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

Artisan Partners Limited Partnership reduced its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 691,299 shares of the company’s stock after selling 17,719 shares during the period. Artisan Partners Limited Partnership owned 1.81% of Tarsus Pharmaceuticals worth $38,277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Tarsus Pharmaceuticals by 2,088.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company’s stock valued at $14,477,000 after buying an additional 420,057 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Tarsus Pharmaceuticals by 14.8% during the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock valued at $138,432,000 after acquiring an additional 321,552 shares during the last quarter. Ikarian Capital LLC grew its holdings in shares of Tarsus Pharmaceuticals by 28.7% in the third quarter. Ikarian Capital LLC now owns 1,030,277 shares of the company’s stock valued at $33,886,000 after purchasing an additional 230,000 shares during the period. Vestal Point Capital LP acquired a new stake in Tarsus Pharmaceuticals during the third quarter worth about $7,565,000. Finally, Lord Abbett & CO. LLC raised its stake in Tarsus Pharmaceuticals by 28.4% during the third quarter. Lord Abbett & CO. LLC now owns 594,876 shares of the company’s stock worth $19,565,000 after purchasing an additional 131,636 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

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

Tarsus Pharmaceuticals Trading Up 2.2 %

NASDAQ TARS opened at $51.74 on Friday. Tarsus Pharmaceuticals, Inc. has a one year low of $20.08 and a one year high of $57.28. The firm has a 50 day simple moving average of $49.00 and a 200-day simple moving average of $46.00. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -13.58 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.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.60) EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $58.80 million. Equities research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Dianne C. Whitfield sold 2,315 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total value of $107,161.35. Following the sale, the insider now directly owns 50,751 shares in the company, valued at approximately $2,349,263.79. This trade represents a 4.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Bryan Wahl sold 3,084 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $50.11, for a total transaction of $154,539.24. Following the transaction, the general counsel now owns 51,712 shares of the company’s stock, valued at approximately $2,591,288.32. The trade was a 5.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,542 shares of company stock valued at $1,581,173 in the last three months. 8.25% of the stock is owned by corporate insiders.

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.