Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Up 9.6% – Time to Buy?

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shot up 9.6% on Friday . The stock traded as high as $63.90 and last traded at $64.39. 513,044 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 663,138 shares. The stock had previously closed at $58.77.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TARS. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Saturday, September 27th. Zacks Research upgraded shares of Tarsus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, September 5th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.67.

Tarsus Pharmaceuticals Stock Performance

The stock’s 50-day moving average price is $52.98 and its 200-day moving average price is $47.60. The company has a current ratio of 5.26, a quick ratio of 5.21 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $2.75 billion, a P/E ratio of -27.97 and a beta of 0.81.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.15). Tarsus Pharmaceuticals had a negative return on equity of 32.36% and a negative net margin of 31.13%.The business had revenue of $102.66 million during the quarter, compared to the consensus estimate of $95.81 million. As a group, equities analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Insider Transactions at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 6,000 shares of Tarsus Pharmaceuticals stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $55.37, for a total value of $332,220.00. Following the sale, the chief executive officer directly owned 812,106 shares in the company, valued at $44,966,309.22. This trade represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William J. Phd Link sold 27,116 shares of Tarsus Pharmaceuticals stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $57.00, for a total transaction of $1,545,612.00. Following the completion of the sale, the director owned 143,332 shares in the company, valued at approximately $8,169,924. This represents a 15.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,116 shares of company stock worth $2,177,832. Insiders own 8.97% of the company’s stock.

Institutional Trading of Tarsus Pharmaceuticals

Several hedge funds have recently bought and sold shares of the company. Paradigm Biocapital Advisors LP lifted its position in Tarsus Pharmaceuticals by 3.1% in the 1st quarter. Paradigm Biocapital Advisors LP now owns 2,610,197 shares of the company’s stock valued at $134,086,000 after purchasing an additional 78,301 shares during the last quarter. Vanguard Group Inc. lifted its position in Tarsus Pharmaceuticals by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 2,226,595 shares of the company’s stock valued at $114,380,000 after purchasing an additional 111,433 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in Tarsus Pharmaceuticals by 4.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,331,701 shares of the company’s stock valued at $68,409,000 after purchasing an additional 51,714 shares during the last quarter. Geode Capital Management LLC lifted its position in Tarsus Pharmaceuticals by 8.0% in the 2nd quarter. Geode Capital Management LLC now owns 934,420 shares of the company’s stock valued at $37,859,000 after purchasing an additional 68,986 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Tarsus Pharmaceuticals by 12.3% in the 2nd quarter. Invesco Ltd. now owns 928,501 shares of the company’s stock valued at $37,614,000 after purchasing an additional 101,978 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

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.