Jeffrey Farrow Sells 14,396 Shares of Tarsus Pharmaceuticals (NASDAQ:TARS) Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) insider Jeffrey Farrow sold 14,396 shares of Tarsus Pharmaceuticals stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total transaction of $877,436.20. Following the sale, the insider directly owned 56,801 shares in the company, valued at approximately $3,462,020.95. This trade represents a 20.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ TARS opened at $63.16 on Friday. The firm has a 50-day simple moving average of $63.35 and a 200-day simple moving average of $69.43. The company has a quick ratio of 3.71, a current ratio of 3.74 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of -55.40 and a beta of 0.49. Tarsus Pharmaceuticals, Inc. has a 52 week low of $38.51 and a 52 week high of $85.25.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative net margin of 9.02% and a negative return on equity of 14.19%. The firm had revenue of $162.05 million for the quarter, compared to analyst estimates of $149.60 million. On average, equities analysts predict that Tarsus Pharmaceuticals, Inc. will post -0.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Lifesci Capital upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, March 16th. Zacks Research downgraded Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Oppenheimer began coverage on Tarsus Pharmaceuticals in a research note on Friday, April 24th. They set an “outperform” rating and a $98.00 price objective on the stock. Guggenheim upped their target price on Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Finally, Wall Street Zen raised Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Tarsus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.

Institutional Trading of Tarsus Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Tarsus Pharmaceuticals by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company’s stock valued at $196,476,000 after acquiring an additional 127,470 shares during the last quarter. TimesSquare Capital Management LLC raised its position in Tarsus Pharmaceuticals by 24.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 332,446 shares of the company’s stock valued at $27,221,000 after purchasing an additional 64,941 shares during the period. Citigroup Inc. lifted its stake in shares of Tarsus Pharmaceuticals by 78.1% in the 3rd quarter. Citigroup Inc. now owns 40,591 shares of the company’s stock valued at $2,412,000 after purchasing an additional 17,797 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Tarsus Pharmaceuticals by 19.9% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 109,857 shares of the company’s stock valued at $8,995,000 after purchasing an additional 18,267 shares during the last quarter. Finally, D.A. Davidson & CO. purchased a new position in shares of Tarsus Pharmaceuticals during the 4th quarter worth $1,493,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company’s research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus’s lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.