Tarsus Pharmaceuticals (NASDAQ:TARS) Rating Increased to Strong-Buy at Barclays

Barclays upgraded shares of Tarsus Pharmaceuticals (NASDAQ:TARS) to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks reports.

TARS has been the topic of a number of other reports. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Mizuho cut their price target on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating for the company in a report on Friday, July 31st. HC Wainwright restated a “buy” rating and issued a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Friday, July 17th. Finally, Oppenheimer increased their target price on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

Tarsus Pharmaceuticals Stock Performance

NASDAQ TARS opened at $79.03 on Wednesday. The firm has a market cap of $3.47 billion, a P/E ratio of -72.50 and a beta of 0.54. Tarsus Pharmaceuticals has a 52-week low of $51.57 and a 52-week high of $91.53. The business’s 50-day moving average price is $69.02 and its 200 day moving average price is $66.73. 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 posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.24). The company 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%. On average, equities research analysts expect that Tarsus Pharmaceuticals will post -2.4 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Bobak Azamian sold 10,000 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $90.56, for a total value of $905,600.00. Following the completion of the transaction, the chief executive officer 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William Link, PhD sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $78.38, for a total transaction of $979,750.00. Following the sale, the director directly owned 94,487 shares in the company, valued at $7,405,891.06. This represents a 11.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 48,031 shares of company stock worth $4,004,227. 9.64% of the stock is owned by corporate insiders.

Institutional Trading of Tarsus Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. increased its holdings in shares of Tarsus Pharmaceuticals by 15.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock worth $105,000 after acquiring an additional 172 shares during the period. Parallel Advisors LLC boosted its stake in Tarsus Pharmaceuticals by 139.2% during the 1st quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 291 shares during the period. Strs Ohio grew its position in Tarsus Pharmaceuticals by 4.8% in the 1st quarter. Strs Ohio now owns 8,800 shares of the company’s stock worth $617,000 after purchasing an additional 400 shares during the last quarter. Swiss National Bank grew its position in Tarsus Pharmaceuticals by 0.8% in the 1st quarter. Swiss National Bank now owns 62,933 shares of the company’s stock worth $4,415,000 after purchasing an additional 500 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Tarsus Pharmaceuticals by 367.1% in the first quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock valued at $50,000 after purchasing an additional 558 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a commercial-stage ophthalmic pharmaceutical company focused on developing and marketing treatments for eye conditions with significant unmet medical needs. The company’s lead product is XDEMVY (lotilaner ophthalmic solution) 0.25%, a prescription eye drop approved by the U.S. Food and Drug Administration in 2023 for the treatment of Demodex blepharitis, a common eyelid disorder associated with an infestation of Demodex mites.

XDEMVY is designed to target and eliminate Demodex mites, addressing an underlying cause of the disease rather than only managing its symptoms.