Tarsus Pharmaceuticals (NASDAQ:TARS) Stock Price Down 5.9% – Should You Sell?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares dropped 5.9% on Thursday . The company traded as low as $67.83 and last traded at $67.58. Approximately 129,433 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 548,299 shares. The stock had previously closed at $71.80.

Analyst Ratings Changes

TARS has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Thursday, January 22nd. The Goldman Sachs Group restated a “neutral” rating and issued a $68.00 price objective on shares of Tarsus Pharmaceuticals in a report on Thursday, February 5th. Lifesci Capital upgraded shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Monday, March 16th. Zacks Research cut shares of Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Finally, Oppenheimer upped their price objective on shares of Tarsus Pharmaceuticals from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $91.83.

Tarsus Pharmaceuticals Trading Down 0.7%

The stock’s fifty day moving average price is $69.26 and its 200 day moving average price is $72.21. The company has a quick ratio of 3.82, a current ratio of 3.85 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.86 billion, a PE ratio of -41.51 and a beta of 0.63.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings results on Monday, February 23rd. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Tarsus Pharmaceuticals had a negative net margin of 14.72% and a negative return on equity of 19.63%. The firm had revenue of $151.67 million for the quarter, compared to analysts’ expectations of $144.56 million. On average, sell-side analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Insider Activity

In other news, CEO Bobak R. Azamian sold 11,964 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $67.00, for a total transaction of $801,588.00. Following the sale, the chief executive officer owned 33,421 shares in the company, valued at $2,239,207. This represents a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Dianne C. Whitfield sold 4,174 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $67.00, for a total transaction of $279,658.00. Following the sale, the insider owned 35,028 shares in the company, valued at approximately $2,346,876. The trade was a 10.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 79,391 shares of company stock valued at $5,432,035. Company insiders own 8.97% of the company’s stock.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Tarsus Pharmaceuticals by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock worth $1,137,000 after purchasing an additional 1,217 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Tarsus Pharmaceuticals by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,220 shares of the company’s stock worth $3,659,000 after purchasing an additional 1,394 shares during the last quarter. Jane Street Group LLC boosted its holdings in Tarsus Pharmaceuticals by 105.8% in the first quarter. Jane Street Group LLC now owns 10,456 shares of the company’s stock worth $537,000 after purchasing an additional 190,000 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Tarsus Pharmaceuticals by 402.7% in the second quarter. JPMorgan Chase & Co. now owns 140,610 shares of the company’s stock worth $5,696,000 after purchasing an additional 112,637 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Tarsus Pharmaceuticals by 12.3% in the second quarter. Invesco Ltd. now owns 928,501 shares of the company’s stock worth $37,614,000 after purchasing an additional 101,978 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

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.