TimesSquare Capital Management LLC Takes $23.25 Million Position in Tarsus Pharmaceuticals, Inc. $TARS

TimesSquare Capital Management LLC acquired a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) in the second quarter, Holdings Channel.com reports. The fund acquired 369,377 shares of the company’s stock, valued at approximately $23,249,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. RTW Investments LP boosted its holdings in Tarsus Pharmaceuticals by 5.0% in the 4th quarter. RTW Investments LP now owns 3,335,320 shares of the company’s stock valued at $273,096,000 after purchasing an additional 157,884 shares during the last quarter. Deep Track Capital LP increased its holdings in shares of Tarsus Pharmaceuticals by 71.4% during the 3rd quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock worth $178,290,000 after buying an additional 1,250,000 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Tarsus Pharmaceuticals by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company’s stock worth $196,476,000 after buying an additional 127,470 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Tarsus Pharmaceuticals by 16.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,240,963 shares of the company’s stock valued at $157,223,000 after buying an additional 310,638 shares during the period. Finally, Morgan Stanley raised its position in shares of Tarsus Pharmaceuticals by 6.7% during the 4th quarter. Morgan Stanley now owns 2,040,742 shares of the company’s stock valued at $167,096,000 after buying an additional 128,340 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Tarsus Pharmaceuticals Price Performance

Tarsus Pharmaceuticals stock opened at $70.61 on Tuesday. The company’s 50 day simple moving average is $62.63 and its 200-day simple moving average is $64.88. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of -64.78 and a beta of 0.53. Tarsus Pharmaceuticals, Inc. has a 1 year low of $48.20 and a 1 year high of $85.25. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.17 and a current ratio of 3.20.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The company had revenue of $173.91 million during the quarter, compared to analyst estimates of $169.65 million. Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%. As a group, equities research analysts expect that Tarsus Pharmaceuticals, Inc. will post -2.06 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Oppenheimer lifted their target price on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Mizuho decreased their price target on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Wall Street Zen lowered Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Tarsus Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $90.50.

Insider Transactions at Tarsus Pharmaceuticals

In other news, insider Jeffrey S. Farrow sold 14,396 shares of Tarsus Pharmaceuticals stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total value of $877,436.20. Following the completion of the sale, the insider directly owned 56,801 shares of the company’s stock, valued at approximately $3,462,020.95. The trade was a 20.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Katherine Goodrich sold 2,954 shares of the business’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 completion of the sale, the director owned 2,233 shares in the company, valued at $138,624.64. This represents a 56.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 39,850 shares of company stock worth $2,452,821 in the last ninety days. 9.64% of the stock is owned by company insiders.

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.