Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $90.50.

A number of analysts have weighed in on TARS shares. Wall Street Zen lowered Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. HC Wainwright restated a “buy” rating and issued a $88.00 price target on shares of Tarsus Pharmaceuticals in a report on Thursday, July 9th. Oppenheimer assumed coverage on shares of Tarsus Pharmaceuticals in a research note on Friday, April 24th. They issued an “outperform” rating and a $98.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Friday, July 17th. Finally, Guggenheim decreased their price target on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 10,000 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total transaction of $615,500.00. Following the transaction, the chief executive officer directly owned 847,991 shares in the company, valued at $52,193,846.05. This represents a 1.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Phd Link sold 12,500 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $62.12, for a total transaction of $776,500.00. Following the transaction, 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. Insiders sold 39,850 shares of company stock valued at $2,452,821 in the last ninety days. 9.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wedge Capital Management L L P NC lifted its stake in shares of Tarsus Pharmaceuticals by 20.8% during the 2nd quarter. Wedge Capital Management L L P NC now owns 23,796 shares of the company’s stock worth $1,498,000 after purchasing an additional 4,092 shares during the last quarter. Wasatch Advisors LP purchased a new position in Tarsus Pharmaceuticals in the second quarter valued at about $23,198,000. E. Ohman J or Asset Management AB raised its holdings in Tarsus Pharmaceuticals by 8.8% in the second quarter. E. Ohman J or Asset Management AB now owns 45,794 shares of the company’s stock worth $2,882,000 after purchasing an additional 3,707 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Tarsus Pharmaceuticals by 8.7% in the second quarter. Handelsbanken Fonder AB now owns 15,000 shares of the company’s stock worth $944,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Seven Fleet Capital Management LP lifted its position in shares of Tarsus Pharmaceuticals by 340.0% during the first quarter. Seven Fleet Capital Management LP now owns 19,800 shares of the company’s stock valued at $1,389,000 after buying an additional 15,300 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Stock Performance

Shares of NASDAQ:TARS opened at $58.95 on Wednesday. Tarsus Pharmaceuticals has a 12 month low of $38.51 and a 12 month high of $85.25. The firm’s 50-day moving average is $61.44 and its 200 day moving average is $65.64. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -51.71 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 issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative return on equity of 14.19% and a negative net margin of 9.02%.The firm had revenue of $162.05 million for the quarter, compared to the consensus estimate of $149.60 million. Research analysts predict that Tarsus Pharmaceuticals will post -1.04 EPS for the current year.

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.