9,000 Shares in Tarsus Pharmaceuticals, Inc. $TARS Purchased by JW Asset Management LLC

JW Asset Management LLC acquired a new position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,000 shares of the company’s stock, valued at approximately $707,000. Tarsus Pharmaceuticals makes up about 0.3% of JW Asset Management LLC’s investment portfolio, making the stock its 20th biggest holding.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Tarsus Pharmaceuticals in the 2nd quarter worth $242,705,000. Jupiter Topco LLC purchased a new position in shares of Tarsus Pharmaceuticals during the second quarter valued at $176,834,000. Janus Henderson Group PLC increased its stake in shares of 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 raised its holdings in shares of Tarsus Pharmaceuticals by 57.5% in 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 acquiring an additional 436,271 shares in the last quarter. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Tarsus Pharmaceuticals in the second quarter valued at about $23,249,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Barclays began coverage on shares of Tarsus Pharmaceuticals in a report on Wednesday, September 16th. They set an “overweight” rating and a $110.00 target price on the stock. Oppenheimer boosted their price target on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. The Goldman Sachs Group began coverage on shares of Tarsus Pharmaceuticals in a research report on Thursday, September 24th. They issued a “buy” rating and a $116.00 price target for the company. Jefferies Financial Group upped their price target on shares of Tarsus Pharmaceuticals from $88.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, September 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Tarsus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $104.57.

Insider Activity

In related news, CEO Bobak R. Azamian sold 10,000 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $90.56, for a total transaction of $905,600.00. Following the sale, the chief executive officer directly owned 827,991 shares of the company’s stock, valued at approximately $74,982,864.96. This represents a 1.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Lin sold 10,773 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $87.50, for a total transaction of $942,637.50. Following the sale, the insider directly owned 2,547 shares in the company, valued at $222,862.50. This trade represents a 80.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 48,031 shares of company stock valued at $4,004,227 in the last three months. 9.64% of the stock is currently owned by corporate insiders.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS stock opened at $76.89 on Friday. The stock has a market cap of $3.79 billion, a PE ratio of -5.06 and a beta of 0.34. The business has a 50-day simple moving average of $74.90 and a 200-day simple moving average of $67.92. The company has a quick ratio of 1.94, a current ratio of 1.96 and a debt-to-equity ratio of 0.70. Tarsus Pharmaceuticals, Inc. has a 52-week low of $53.89 and a 52-week high of $91.53.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its earnings results on Tuesday, November 3rd. The company reported ($14.40) EPS for the quarter, missing the consensus estimate of ($1.46) by ($12.94). Tarsus Pharmaceuticals had a negative return on equity of 24.51% and a negative net margin of 102.93%. The company had revenue of $194.57 million for the quarter, compared to analyst estimates of $187.83 million. On average, equities analysts expect that Tarsus Pharmaceuticals, Inc. will post -15.64 EPS for the current year.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing treatments for diseases with significant unmet medical needs, particularly in eye care. The company’s work includes therapies targeting Demodex mites, microscopic parasites associated with certain eye conditions. Its lead product, XDEMVY (lotilaner ophthalmic solution), is an FDA-approved prescription treatment for Demodex blepharitis, an eyelid condition. Tarsus has also evaluated lotilaner-based candidates for other conditions, including ocular rosacea and Lyme disease prevention.