Tarsus Pharmaceuticals (NASDAQ:TARS) Upgraded to Buy at Wall Street Zen

Tarsus Pharmaceuticals (NASDAQ:TARS) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also recently commented on TARS. Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Tuesday, April 21st. Zacks Research cut Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. HC Wainwright reissued a “buy” rating and issued a $88.00 price target on shares of Tarsus Pharmaceuticals in a report on Monday, May 4th. Guggenheim boosted their price target on Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Finally, Lifesci Capital raised Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Monday, March 16th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Tarsus Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $90.67.

Tarsus Pharmaceuticals Stock Down 1.8%

NASDAQ TARS opened at $59.28 on Friday. The stock’s 50 day moving average is $64.65 and its 200 day moving average is $70.56. The company has a current ratio of 3.74, a quick ratio of 3.71 and a debt-to-equity ratio of 0.21. Tarsus Pharmaceuticals has a 12 month low of $38.51 and a 12 month high of $85.25. The stock has a market cap of $2.55 billion, a PE ratio of -52.00 and a beta of 0.49.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative return on equity of 14.19% and a negative net margin of 9.02%.The company had revenue of $162.05 million for the quarter, compared to analysts’ expectations of $149.60 million. Research analysts predict that Tarsus Pharmaceuticals will post -0.59 EPS for the current fiscal year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, insider Jeffrey S. Farrow sold 2,186 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $67.00, for a total transaction of $146,462.00. Following the sale, the insider directly owned 43,316 shares of the company’s stock, valued at $2,902,172. This represents a 4.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bobak R. Azamian sold 11,964 shares of the company’s stock in a transaction that occurred 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 directly owned 33,421 shares in the company, valued at $2,239,207. This trade represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 79,391 shares of company stock worth $5,432,035. Company insiders own 9.64% of the company’s stock.

Institutional Trading of Tarsus Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Seven Fleet Capital Management LP raised its holdings in shares of Tarsus Pharmaceuticals by 340.0% during the 1st quarter. Seven Fleet Capital Management LP now owns 19,800 shares of the company’s stock worth $1,389,000 after acquiring an additional 15,300 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Tarsus Pharmaceuticals by 139.2% during the 1st quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock worth $35,000 after acquiring an additional 291 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Tarsus Pharmaceuticals by 57.5% during the 1st quarter. Bank of America Corp DE now owns 1,194,377 shares of the company’s stock worth $83,786,000 after acquiring an additional 436,271 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Tarsus Pharmaceuticals by 16.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,240,963 shares of the company’s stock worth $157,223,000 after acquiring an additional 310,638 shares in the last quarter. Finally, Tri Locum Partners LP purchased a new stake in shares of Tarsus Pharmaceuticals during the 1st quarter worth approximately $17,719,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

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.