Insider Selling: Tarsus Pharmaceuticals (NASDAQ:TARS) Director Sells 2,954 Shares of Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Director Katherine Goodrich sold 2,954 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $62.08, for a total value of $183,384.32. Following the sale, the director directly owned 2,233 shares in the company, valued at approximately $138,624.64. This trade represents a 56.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ TARS traded up $1.75 during mid-day trading on Wednesday, hitting $62.55. 462,278 shares of the stock traded hands, compared to its average volume of 606,366. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.74 and a quick ratio of 3.71. Tarsus Pharmaceuticals, Inc. has a twelve month low of $38.51 and a twelve month high of $85.25. The company has a market cap of $2.69 billion, a PE ratio of -54.87 and a beta of 0.49. The firm has a 50 day simple moving average of $63.62 and a two-hundred day simple moving average of $69.67.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) earnings per share for the quarter, beating 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 company had revenue of $162.05 million for the quarter, compared to the consensus estimate of $149.60 million. As a group, equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -0.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Tarsus Pharmaceuticals by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company’s stock worth $196,476,000 after acquiring an additional 127,470 shares in the last quarter. TimesSquare Capital Management LLC increased its position in Tarsus Pharmaceuticals by 24.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 332,446 shares of the company’s stock valued at $27,221,000 after buying an additional 64,941 shares in the last quarter. Citigroup Inc. increased its position in Tarsus Pharmaceuticals by 78.1% in the 3rd quarter. Citigroup Inc. now owns 40,591 shares of the company’s stock valued at $2,412,000 after buying an additional 17,797 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Tarsus Pharmaceuticals by 19.9% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 109,857 shares of the company’s stock valued at $8,995,000 after buying an additional 18,267 shares in the last quarter. Finally, D.A. Davidson & CO. bought a new stake in Tarsus Pharmaceuticals in the 4th quarter valued at about $1,493,000. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TARS shares. Wall Street Zen raised Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Tuesday, April 21st. Lifesci Capital raised Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, March 16th. Guggenheim raised their target price on Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Finally, Zacks Research lowered Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.67.

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.