Bobak R. Azamian Sells 7,131 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak R. Azamian sold 7,131 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total value of $330,093.99. Following the completion of the sale, the chief executive officer now owns 70,720 shares of the company’s stock, valued at approximately $3,273,628.80. This trade represents a 9.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS traded up $0.36 on Thursday, reaching $49.91. 618,361 shares of the stock traded hands, compared to its average volume of 639,768. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -13.10 and a beta of 1.05. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. Tarsus Pharmaceuticals, Inc. has a 12 month low of $20.08 and a 12 month high of $57.28. The stock’s 50-day moving average price is $48.54 and its 200-day moving average price is $45.06.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.08. The business had revenue of $66.41 million for the quarter, compared to analysts’ expectations of $58.80 million. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. Equities analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Institutional Trading of Tarsus Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of TARS. Mutual of America Capital Management LLC bought a new stake in shares of Tarsus Pharmaceuticals during the third quarter valued at approximately $4,291,000. Jennison Associates LLC grew its position in Tarsus Pharmaceuticals by 47.2% in the third quarter. Jennison Associates LLC now owns 2,178,580 shares of the company’s stock valued at $71,653,000 after acquiring an additional 698,712 shares during the period. Intech Investment Management LLC bought a new stake in Tarsus Pharmaceuticals in the third quarter valued at $282,000. Charles Schwab Investment Management Inc. grew its position in Tarsus Pharmaceuticals by 10.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 290,009 shares of the company’s stock valued at $9,538,000 after acquiring an additional 28,130 shares during the period. Finally, FMR LLC grew its position in Tarsus Pharmaceuticals by 236.6% in the third quarter. FMR LLC now owns 5,032 shares of the company’s stock valued at $166,000 after acquiring an additional 3,537 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TARS has been the subject of several analyst reports. Guggenheim restated a “buy” rating and issued a $78.00 target price (up from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th. HC Wainwright restated a “buy” rating and issued a $73.00 target price on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 26th. Jefferies Financial Group boosted their target price on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Barclays reduced their target price on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Oppenheimer upped their price target on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $63.67.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for eye care in the United States. The company's lead product candidate is XDEMVY, a novel therapeutic for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.