Tarsus Pharmaceuticals, Inc. $TARS Stock Acquired by Profund Advisors LLC

Profund Advisors LLC raised its position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 288.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,378 shares of the company’s stock after purchasing an additional 14,385 shares during the quarter. Profund Advisors LLC’s holdings in Tarsus Pharmaceuticals were worth $1,523,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Tarsus Pharmaceuticals in the 2nd quarter worth approximately $242,705,000. Jupiter Topco LLC bought a new stake in Tarsus Pharmaceuticals during the second quarter valued at approximately $176,834,000. Janus Henderson Group PLC grew its position in Tarsus Pharmaceuticals by 16.1% during the first quarter. Janus Henderson Group PLC now owns 2,240,963 shares of the company’s stock valued at $157,223,000 after buying an additional 310,638 shares during the period. Bank of America Corp DE grew its position in Tarsus Pharmaceuticals by 57.5% during the first quarter. Bank of America Corp DE now owns 1,194,377 shares of the company’s stock valued at $83,786,000 after buying an additional 436,271 shares during the period. Finally, TimesSquare Capital Management LLC bought a new stake in Tarsus Pharmaceuticals during the second quarter valued at approximately $23,249,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Stock Performance

Shares of NASDAQ TARS opened at $73.32 on Tuesday. Tarsus Pharmaceuticals, Inc. has a 52-week low of $53.89 and a 52-week high of $91.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.17 and a current ratio of 3.20. The firm’s fifty day moving average is $75.17 and its two-hundred day moving average is $67.88. The company has a market cap of $3.61 billion, a P/E ratio of -67.27 and a beta of 0.44.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.24). The firm had revenue of $173.91 million for the quarter, compared to the consensus estimate of $169.65 million. Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%. As a group, analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Insider Activity

In related news, insider Elizabeth Lin sold 10,773 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $87.50, for a total value of $942,637.50. Following the completion of the transaction, the insider directly owned 2,547 shares of the company’s stock, valued at approximately $222,862.50. This trade represents a 80.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William Link, PhD sold 12,500 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $78.38, for a total transaction of $979,750.00. Following the completion of the sale, the director owned 94,487 shares in the company, valued at $7,405,891.06. This represents a 11.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 48,031 shares of company stock worth $4,004,227. 9.64% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on TARS shares. Barclays started coverage on shares of Tarsus Pharmaceuticals in a report on Wednesday, September 16th. They set an “overweight” rating and a $110.00 target price for the company. The Goldman Sachs Group started coverage on shares of Tarsus Pharmaceuticals in a research note on Thursday, September 24th. They set a “buy” rating and a $116.00 price target on the stock. Mizuho lowered their target price on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Oppenheimer raised their price objective on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.86.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc is a commercial-stage ophthalmic pharmaceutical company focused on developing and marketing treatments for eye diseases with significant unmet medical needs. The company’s portfolio is centered on therapies designed to address conditions affecting the ocular surface and eyelids.

Tarsus’ lead product is XDEMVY (lotilaner ophthalmic solution) 0.25%, an eye drop approved by the U.S. Food and Drug Administration in 2023 for the treatment of Demodex blepharitis, an inflammatory eyelid condition associated with an infestation of Demodex mites.