Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak R. Azamian Sells 8,534 Shares

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak R. Azamian sold 8,534 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $427,638.74. Following the completion of the sale, the chief executive officer now directly owns 53,635 shares in the company, valued at $2,687,649.85. This trade represents a 13.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Tarsus Pharmaceuticals Trading Up 0.7 %

Shares of Tarsus Pharmaceuticals stock traded up $0.36 during trading hours on Thursday, hitting $49.91. The company’s stock had a trading volume of 618,361 shares, compared to its average volume of 639,768. Tarsus Pharmaceuticals, Inc. has a 1-year low of $20.08 and a 1-year high of $57.28. The business has a fifty day moving average of $48.54 and a 200 day moving average of $45.06. The company has a market capitalization of $1.92 billion, a PE ratio of -13.10 and a beta of 1.05. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. The company had revenue of $66.41 million during the quarter, compared to analyst estimates of $58.80 million. As a group, equities analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TARS shares. Barclays reduced their price target on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. HC Wainwright reaffirmed a “buy” rating and issued a $73.00 price target on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 26th. Jefferies Financial Group upped their price target on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Guggenheim reaffirmed a “buy” rating and issued a $78.00 price target (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th. Finally, Oppenheimer upped their price objective on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tarsus Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $63.67.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several large investors have recently made changes to their positions in TARS. Toronto Dominion Bank acquired a new stake in shares of Tarsus Pharmaceuticals in the fourth quarter worth $105,714,000. Jennison Associates LLC boosted its stake in shares of Tarsus Pharmaceuticals by 47.2% in the third quarter. Jennison Associates LLC now owns 2,178,580 shares of the company’s stock valued at $71,653,000 after purchasing an additional 698,712 shares during the period. Lord Abbett & CO. LLC boosted its stake in shares of Tarsus Pharmaceuticals by 115.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company’s stock valued at $70,873,000 after purchasing an additional 685,111 shares during the period. Millennium Management LLC boosted its stake in shares of Tarsus Pharmaceuticals by 189.4% in the fourth quarter. Millennium Management LLC now owns 644,010 shares of the company’s stock valued at $35,659,000 after purchasing an additional 421,495 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Tarsus Pharmaceuticals by 2,088.8% in the third quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company’s stock valued at $14,477,000 after purchasing an additional 420,057 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for eye care in the United States. The company's lead product candidate is XDEMVY, a novel therapeutic for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.