Tarsus Pharmaceuticals (NASDAQ:TARS) Stock Moved Up to Hold by Zacks Research

Tarsus Pharmaceuticals (NASDAQ:TARS) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

Several other brokerages also recently weighed in on TARS. Guggenheim cut their price target on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Mizuho decreased their price objective on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Jefferies Financial Group upped their target price on Tarsus Pharmaceuticals from $88.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, September 8th. Oppenheimer raised their target price on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Finally, Barclays assumed coverage on Tarsus Pharmaceuticals in a research report on Wednesday, September 16th. They set an “overweight” rating and a $110.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.86.

Tarsus Pharmaceuticals Price Performance

Shares of TARS opened at $72.29 on Tuesday. The company has a 50 day moving average of $75.17 and a two-hundred day moving average of $67.38. The company has a quick ratio of 3.17, a current ratio of 3.20 and a debt-to-equity ratio of 0.21. Tarsus Pharmaceuticals has a twelve month low of $53.89 and a twelve month high of $91.53. The company has a market cap of $3.17 billion, a price-to-earnings ratio of -66.32 and a beta of 0.44.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced 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). Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%. The company had revenue of $173.91 million during the quarter, compared to analysts’ expectations of $169.65 million. As a group, analysts predict that Tarsus Pharmaceuticals will post -4.25 earnings per share for the current fiscal year.

Insider Activity

In other news, Director William Link, PhD sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $78.38, for a total value of $979,750.00. Following the completion of the sale, the director directly owned 94,487 shares in the company, valued at $7,405,891.06. The trade was a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak Azamian sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $90.56, for a total value of $905,600.00. Following the transaction, the chief executive officer directly owned 827,991 shares of the company’s stock, valued at approximately $74,982,864.96. The trade was a 1.19% decrease in their ownership of the stock. 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 48,031 shares of company stock worth $4,004,227 over the last three months. 9.64% of the stock is currently owned by corporate insiders.

Institutional Trading of Tarsus Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of TARS. Farther Finance Advisors LLC increased its stake in Tarsus Pharmaceuticals by 851.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 590 shares of the company’s stock worth $46,000 after buying an additional 528 shares in the last quarter. Engineers Gate Manager LP raised its holdings in shares of Tarsus Pharmaceuticals by 66.5% during the second quarter. Engineers Gate Manager LP now owns 4,755 shares of the company’s stock valued at $299,000 after acquiring an additional 1,900 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of Tarsus Pharmaceuticals by 22.7% in the second quarter. Squarepoint Ops LLC now owns 295,824 shares of the company’s stock valued at $18,619,000 after acquiring an additional 54,791 shares in the last quarter. Nykredit A S purchased a new position in shares of Tarsus Pharmaceuticals in the second quarter valued at approximately $106,000. Finally, Pale Fire Capital SE lifted its position in shares of Tarsus Pharmaceuticals by 73.4% in the second quarter. Pale Fire Capital SE now owns 9,802 shares of the company’s stock valued at $617,000 after acquiring an additional 4,150 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company concentrates on areas of significant unmet need in ophthalmology and aims to address conditions that can affect ocular health, comfort and vision.

Tarsus’ primary product is XDEMVY (lotilaner ophthalmic solution) 0.25%, an eye drop approved by the U.S. Food and Drug Administration in 2023 for the treatment of Demodex blepharitis.