Tarsus Pharmaceuticals (NASDAQ:TARS) CEO Bobak Azamian Sells 10,000 Shares

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak Azamian sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total value of $615,500.00. Following the completion of the sale, the chief executive officer owned 847,991 shares of the company’s stock, valued at $52,193,846.05. This trade represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tarsus Pharmaceuticals Trading Up 0.6%

Shares of NASDAQ:TARS opened at $63.56 on Tuesday. The business’s 50 day moving average price is $63.00 and its 200-day moving average price is $69.20. Tarsus Pharmaceuticals, Inc. has a 1 year low of $38.51 and a 1 year high of $85.25. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -55.75 and a beta of 0.49. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.74 and a quick ratio of 3.71.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.24. The company had revenue of $162.05 million during the quarter, compared to analyst estimates of $149.60 million. Tarsus Pharmaceuticals had a negative net margin of 9.02% and a negative return on equity of 14.19%. On average, equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -0.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TARS. Oppenheimer assumed coverage on shares of Tarsus Pharmaceuticals in a research report on Friday, April 24th. They set an “outperform” rating and a $98.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $88.00 price objective on shares of Tarsus Pharmaceuticals in a report on Monday, May 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Tuesday, April 21st. Lifesci Capital raised Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Monday, March 16th. Finally, Guggenheim raised their target price on Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.67.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

A number of hedge funds have recently modified their holdings of TARS. Vanguard Group Inc. boosted its position in shares of Tarsus Pharmaceuticals by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company’s stock valued at $196,476,000 after acquiring an additional 127,470 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in Tarsus Pharmaceuticals by 24.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 332,446 shares of the company’s stock worth $27,221,000 after purchasing an additional 64,941 shares during the period. Citigroup Inc. raised its stake in Tarsus Pharmaceuticals by 78.1% during the third quarter. Citigroup Inc. now owns 40,591 shares of the company’s stock worth $2,412,000 after purchasing an additional 17,797 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Tarsus Pharmaceuticals by 19.9% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 109,857 shares of the company’s stock worth $8,995,000 after purchasing an additional 18,267 shares during the period. Finally, D.A. Davidson & CO. acquired a new position in Tarsus Pharmaceuticals in the 4th quarter valued at about $1,493,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

About Tarsus Pharmaceuticals

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.