Bobak R. Azamian Sells 8,534 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak R. Azamian sold 8,534 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $50.11, for a total transaction of $427,638.74. Following the sale, the chief executive officer now directly owns 53,635 shares in the company, valued at $2,687,649.85. The trade was a 13.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tarsus Pharmaceuticals Trading Up 0.1 %

Shares of NASDAQ:TARS opened at $49.97 on Friday. The business’s 50 day moving average price is $48.48 and its 200-day moving average price is $45.21. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of -13.12 and a beta of 1.05. Tarsus Pharmaceuticals, Inc. has a 1 year low of $20.08 and a 1 year high of $57.28.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.08. The company had revenue of $66.41 million for the quarter, compared to analyst estimates of $58.80 million. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. On average, equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted 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 purchasing an additional 420,057 shares in the last quarter. Vestal Point Capital LP purchased a new position in shares of Tarsus Pharmaceuticals during the 3rd quarter worth $7,565,000. Jennison Associates LLC raised its holdings 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 worth $138,432,000 after acquiring an additional 321,552 shares during the period. Verition Fund Management LLC purchased a new position in shares of Tarsus Pharmaceuticals during the 3rd quarter worth $763,000. Finally, Mutual of America Capital Management LLC purchased a new position in shares of Tarsus Pharmaceuticals during the 3rd quarter worth $4,291,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TARS. Oppenheimer raised their price objective 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. Guggenheim reaffirmed a “buy” rating and set a $78.00 price objective (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a research note on Monday, February 24th. HC Wainwright reaffirmed a “buy” rating and set a $73.00 price objective on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. Jefferies Financial Group increased their target price on 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 decreased their target price on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. One research 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, the company currently has an average rating of “Buy” and a consensus price target of $63.67.

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.