Tarsus Pharmaceuticals (NASDAQ:TARS) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Tarsus Pharmaceuticals (NASDAQ:TARS) from a hold rating to a strong sell rating in a research report report published on Tuesday,Zacks reports.

A number of other equities research analysts have also commented on TARS. The Goldman Sachs Group started coverage on Tarsus Pharmaceuticals in a research report on Thursday, September 24th. They set a “buy” rating and a $116.00 price target on the stock. Wall Street Zen downgraded Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. HC Wainwright reissued a “buy” rating and issued a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research note on Thursday, July 9th. Jefferies Financial Group boosted their price objective on Tarsus Pharmaceuticals from $88.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, September 8th. Finally, Barclays started coverage on Tarsus Pharmaceuticals in a report on Wednesday, September 16th. They set an “overweight” rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.86.

Tarsus Pharmaceuticals Price Performance

NASDAQ:TARS opened at $72.22 on Tuesday. The firm has a market cap of $3.17 billion, a PE ratio of -66.26 and a beta of 0.44. Tarsus Pharmaceuticals has a 12 month low of $53.89 and a 12 month high of $91.53. The company has a quick ratio of 3.17, a current ratio of 3.20 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $74.21 and its two-hundred day moving average price is $67.18.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.24). Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%.The firm had revenue of $173.91 million for the quarter, compared to the consensus estimate of $169.65 million. On average, equities analysts anticipate that Tarsus Pharmaceuticals will post -4.25 EPS for the current fiscal year.

Insider Transactions at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 827,991 shares of the company’s stock, valued at $74,982,864.96. This trade represents a 1.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Phd Link 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 transaction of $979,750.00. Following the completion of the transaction, the director owned 94,487 shares of the company’s stock, valued at $7,405,891.06. This trade represents a 11.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 48,031 shares of company stock worth $4,004,227. Corporate insiders own 9.64% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TARS. Farther Finance Advisors LLC boosted its position in Tarsus Pharmaceuticals by 851.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 590 shares of the company’s stock valued at $46,000 after buying an additional 528 shares during the last quarter. Engineers Gate Manager LP raised its position 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 worth $299,000 after acquiring an additional 1,900 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of Tarsus Pharmaceuticals by 22.7% during the second quarter. Squarepoint Ops LLC now owns 295,824 shares of the company’s stock worth $18,619,000 after acquiring an additional 54,791 shares during the last quarter. Nykredit A S bought a new stake in shares of Tarsus Pharmaceuticals during the second quarter worth $106,000. Finally, Pale Fire Capital SE lifted its stake in shares of Tarsus Pharmaceuticals by 73.4% during 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 during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Company Profile

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.