Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Sells $300,000.00 in Stock

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

Tarsus Pharmaceuticals Price Performance

Tarsus Pharmaceuticals stock opened at $51.74 on Friday. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30. The company has a fifty day simple moving average of $49.00 and a 200-day simple moving average of $46.00. The stock has a market cap of $1.99 billion, a P/E ratio of -13.58 and a beta of 1.05. Tarsus Pharmaceuticals, Inc. has a 12-month low of $20.08 and a 12-month high of $57.28.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping 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. Equities analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Paradigm Biocapital Advisors LP lifted its position in shares of Tarsus Pharmaceuticals by 3.7% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 2,531,896 shares of the company’s stock worth $140,191,000 after buying an additional 91,451 shares during the last quarter. Jennison Associates LLC lifted its position in Tarsus Pharmaceuticals by 14.8% in the fourth 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. Vanguard Group Inc. boosted its stake in Tarsus Pharmaceuticals by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,115,162 shares of the company’s stock valued at $117,117,000 after acquiring an additional 17,839 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Tarsus Pharmaceuticals during the fourth quarter worth about $105,714,000. Finally, Lord Abbett & CO. LLC increased its position in shares of Tarsus Pharmaceuticals by 115.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company’s stock worth $70,873,000 after purchasing an additional 685,111 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on TARS shares. Guggenheim reiterated a “buy” rating and issued a $78.00 target price (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th. HC Wainwright reissued a “buy” rating and set a $73.00 price target on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. Oppenheimer lifted their price objective on shares of 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 increased their target price on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, Barclays decreased 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 equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus 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.