Tarsus Pharmaceuticals (NASDAQ:TARS) CEO Sells 10,000 Shares

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak Azamian sold 10,000 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $90.56, for a total transaction of $905,600.00. Following the completion of the sale, the chief executive officer directly owned 827,991 shares of the company’s stock, valued at $74,982,864.96. The trade was a 1.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tarsus Pharmaceuticals Price Performance

NASDAQ:TARS traded down $4.45 during midday trading on Wednesday, hitting $82.77. 556,805 shares of the stock were exchanged, compared to its average volume of 755,010. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of -75.94 and a beta of 0.54. The company has a current ratio of 3.20, a quick ratio of 3.17 and a debt-to-equity ratio of 0.21. Tarsus Pharmaceuticals, Inc. has a one year low of $48.20 and a one year high of $91.53. The business has a 50-day moving average price of $67.09 and a two-hundred day moving average price of $66.33.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.24). The business had revenue of $173.91 million during the quarter, compared to analyst estimates of $169.65 million. Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%. Sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -2.4 EPS for the current year.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several large investors have recently made changes to their positions in TARS. Engineers Gate Manager LP boosted its holdings in Tarsus Pharmaceuticals by 66.5% in the second quarter. Engineers Gate Manager LP now owns 4,755 shares of the company’s stock worth $299,000 after purchasing an additional 1,900 shares in the last quarter. Squarepoint Ops LLC boosted its stake in shares of Tarsus Pharmaceuticals by 22.7% during the 2nd quarter. Squarepoint Ops LLC now owns 295,824 shares of the company’s stock worth $18,619,000 after acquiring an additional 54,791 shares in the last quarter. Nykredit A S bought a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter worth about $106,000. California State Teachers Retirement System increased its holdings in shares of Tarsus Pharmaceuticals by 5,971.9% during the 2nd quarter. California State Teachers Retirement System now owns 2,288,813 shares of the company’s stock valued at $144,058,000 after acquiring an additional 2,251,118 shares during the last quarter. Finally, Pale Fire Capital SE increased its holdings in shares of Tarsus Pharmaceuticals by 73.4% during the 2nd quarter. Pale Fire Capital SE now owns 9,802 shares of the company’s stock valued at $617,000 after acquiring an additional 4,150 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on TARS shares. Mizuho reduced their price objective on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Jefferies Financial Group lifted their price objective on shares of Tarsus Pharmaceuticals from $88.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday. Oppenheimer increased their target price on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Guggenheim decreased their target price on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $92.57.

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.