Tarsus Pharmaceuticals (NASDAQ:TARS) Stock Price Up 6.7% – Still a Buy?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s share price shot up 6.7% during trading on Thursday . The company traded as high as $64.74 and last traded at $64.9450. 497,209 shares traded hands during trading, a decline of 24% from the average daily volume of 652,070 shares. The stock had previously closed at $60.89.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TARS. Wall Street Zen raised Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday. Oppenheimer assumed coverage on Tarsus Pharmaceuticals in a report on Friday, April 24th. They set an “outperform” rating and a $98.00 price target on the stock. Lifesci Capital upgraded shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, March 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Tuesday, April 21st. Finally, HC Wainwright restated a “buy” rating and set a $88.00 price target on shares of Tarsus Pharmaceuticals in a research report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Tarsus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.67.

Tarsus Pharmaceuticals Stock Up 5.5%

The firm’s fifty day simple moving average is $62.08 and its two-hundred day simple moving average is $68.32. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -56.22 and a beta of 0.50. The company has a current ratio of 3.74, a quick ratio of 3.71 and a debt-to-equity ratio of 0.21.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate 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 business had revenue of $162.05 million during the quarter, compared to the consensus estimate of $149.60 million. Sell-side analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -0.59 EPS for the current year.

Insider Buying and Selling

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total transaction of $615,500.00. Following the transaction, the chief executive officer owned 847,991 shares in the company, valued at $52,193,846.05. The trade was a 1.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Phd Link sold 12,500 shares of Tarsus Pharmaceuticals stock in a transaction on Monday, June 15th. The stock was sold at an average price of $62.12, for a total transaction of $776,500.00. Following the sale, the director directly owned 106,786 shares in the company, valued at $6,633,546.32. This trade represents a 10.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 39,850 shares of company stock valued at $2,452,821. 9.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC increased its stake in shares of Tarsus Pharmaceuticals by 139.2% in the first quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock worth $35,000 after buying an additional 291 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Tarsus Pharmaceuticals by 367.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock valued at $50,000 after acquiring an additional 558 shares during the last quarter. Comerica Bank boosted its stake in Tarsus Pharmaceuticals by 470.0% during the 4th quarter. Comerica Bank now owns 855 shares of the company’s stock valued at $70,000 after acquiring an additional 705 shares during the last quarter. Truvestments Capital LLC grew its holdings in Tarsus Pharmaceuticals by 106.1% during the 4th quarter. Truvestments Capital LLC now owns 909 shares of the company’s stock worth $74,000 after acquiring an additional 468 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in Tarsus Pharmaceuticals by 15.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock worth $105,000 after acquiring an additional 172 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Company Profile

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.