Parkman Healthcare Partners LLC Acquires New Position in Tarsus Pharmaceuticals, Inc. $TARS

Parkman Healthcare Partners LLC acquired a new position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 150,000 shares of the company’s stock, valued at approximately $9,441,000. Parkman Healthcare Partners LLC owned about 0.34% of Tarsus Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TARS. Parallel Advisors LLC grew its position in Tarsus Pharmaceuticals by 139.2% during the first quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 291 shares during the period. PNC Financial Services Group Inc. boosted its position in Tarsus Pharmaceuticals by 367.1% during the first quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock worth $50,000 after acquiring an additional 558 shares during the last quarter. Comerica Bank increased its holdings in shares of Tarsus Pharmaceuticals by 470.0% in the fourth quarter. Comerica Bank now owns 855 shares of the company’s stock valued at $70,000 after purchasing an additional 705 shares during the last quarter. Truvestments Capital LLC increased its position 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 purchasing an additional 468 shares during the last quarter. Finally, State of Wyoming purchased a new position in Tarsus Pharmaceuticals in the second quarter worth approximately $103,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ:TARS opened at $72.81 on Tuesday. The company has a market cap of $3.19 billion, a P/E ratio of -66.80 and a beta of 0.53. The business has a fifty day simple moving average of $63.67 and a 200-day simple moving average of $65.12. Tarsus Pharmaceuticals, Inc. has a 52 week low of $48.20 and a 52 week high of $85.25. 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 (NASDAQ:TARS) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The firm had revenue of $173.91 million for 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%. Equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -2.06 EPS for the current year.

Insiders Place Their Bets

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 10,000 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total transaction of $615,500.00. Following the sale, the chief executive officer directly owned 847,991 shares in the company, valued at $52,193,846.05. The trade was a 1.17% decrease in their position. The transaction was disclosed in a document filed 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. Also, insider Jeffrey S. Farrow sold 14,396 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $60.95, for a total transaction of $877,436.20. Following the completion of the sale, the insider directly owned 56,801 shares in the company, valued at $3,462,020.95. This represents a 20.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 39,850 shares of company stock valued at $2,452,821 in the last three months. 9.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TARS shares. 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. HC Wainwright reaffirmed a “buy” rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Guggenheim decreased their price objective on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. Finally, Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $90.50.

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.