HC Wainwright Comments on Tarsus Pharmaceuticals, Inc.’s FY2023 Earnings (NASDAQ:TARS)

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS – Get Rating) – Equities research analysts at HC Wainwright upped their FY2023 earnings per share estimates for Tarsus Pharmaceuticals in a research note issued on Wednesday, March 15th. HC Wainwright analyst O. Livnat now anticipates that the company will post earnings per share of ($4.85) for the year, up from their previous forecast of ($5.17). HC Wainwright has a “Buy” rating and a $40.00 price objective on the stock. The consensus estimate for Tarsus Pharmaceuticals’ current full-year earnings is ($4.82) per share. HC Wainwright also issued estimates for Tarsus Pharmaceuticals’ FY2024 earnings at ($3.23) EPS, FY2025 earnings at $0.30 EPS, FY2026 earnings at $2.72 EPS and FY2027 earnings at $4.98 EPS.

Tarsus Pharmaceuticals Stock Down 5.0 %

TARS stock opened at $12.75 on Friday. Tarsus Pharmaceuticals has a twelve month low of $10.80 and a twelve month high of $19.66. The company has a market cap of $340.04 million, a PE ratio of -5.00 and a beta of 0.69. The business’s 50-day simple moving average is $15.07 and its 200 day simple moving average is $15.88. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.10.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. UBS Oconnor LLC acquired a new position in shares of Tarsus Pharmaceuticals in the 3rd quarter valued at $1,044,000. Deerfield Management Company L.P. Series C bought a new position in Tarsus Pharmaceuticals in the 2nd quarter valued at about $19,334,000. Rubric Capital Management LP raised its holdings in Tarsus Pharmaceuticals by 40.5% in the 3rd quarter. Rubric Capital Management LP now owns 284,732 shares of the company’s stock valued at $4,875,000 after acquiring an additional 82,084 shares during the period. Martingale Asset Management L P bought a new position in Tarsus Pharmaceuticals in the 2nd quarter valued at about $210,000. Finally, State Board of Administration of Florida Retirement System bought a new position in Tarsus Pharmaceuticals in the 2nd quarter valued at about $192,000. Institutional investors own 76.82% of the company’s stock.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 9,000 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Wednesday, February 8th. The stock was sold at an average price of $15.14, for a total transaction of $136,260.00. Following the sale, the chief executive officer now directly owns 1,102,106 shares of the company’s stock, valued at $16,685,884.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Leonard M. Greenstein sold 5,000 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Thursday, January 19th. The shares were sold at an average price of $14.56, for a total value of $72,800.00. Following the completion of the transaction, the chief financial officer now owns 39,289 shares in the company, valued at $572,047.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bobak R. Azamian sold 9,000 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $15.14, for a total transaction of $136,260.00. Following the completion of the transaction, the chief executive officer now owns 1,102,106 shares of the company’s stock, valued at approximately $16,685,884.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,500 shares of company stock valued at $867,578. 33.08% of the stock is currently owned by corporate insiders.

About Tarsus Pharmaceuticals

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Tarsus Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for ophthalmic conditions. Its lead product candidate is TP-03, a novel therapeutic that is in Phase III for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.