Tarsus Pharmaceuticals (NASDAQ:TARS) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Tarsus Pharmaceuticals (NASDAQ:TARS) from a buy rating to a hold rating in a report issued on Saturday.

TARS has been the subject of several other research reports. Lifesci Capital upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, March 16th. The Goldman Sachs Group restated a “neutral” rating and set a $68.00 target price on shares of Tarsus Pharmaceuticals in a research report on Thursday, February 5th. Zacks Research lowered Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Guggenheim boosted their target price on Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Thursday, January 22nd. 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 stock. According to MarketBeat.com, Tarsus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.83.

Tarsus Pharmaceuticals Trading Down 0.7%

TARS opened at $67.24 on Friday. The firm has a market cap of $2.86 billion, a P/E ratio of -41.51 and a beta of 0.63. Tarsus Pharmaceuticals has a 12 month low of $38.51 and a 12 month high of $85.25. The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average of $69.26 and a 200 day moving average of $72.30.

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

Insider Activity

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

Institutional Trading of Tarsus Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Comerica Bank lifted its holdings in Tarsus Pharmaceuticals by 470.0% during the fourth quarter. Comerica Bank now owns 855 shares of the company’s stock worth $70,000 after buying an additional 705 shares during the period. Truvestments Capital LLC lifted its holdings in Tarsus Pharmaceuticals by 106.1% during the fourth quarter. Truvestments Capital LLC now owns 909 shares of the company’s stock worth $74,000 after buying an additional 468 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in Tarsus Pharmaceuticals by 15.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock worth $105,000 after buying an additional 172 shares during the period. Leonteq Securities AG purchased a new stake in Tarsus Pharmaceuticals during the fourth quarter worth $164,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Tarsus Pharmaceuticals by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,063 shares of the company’s stock worth $169,000 after buying an additional 431 shares during the period. 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.