Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $90.6667.

TARS has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Tuesday, April 21st. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Oppenheimer assumed coverage on shares of Tarsus Pharmaceuticals in a research note on Friday, April 24th. They issued an “outperform” rating and a $98.00 price target for the company. Lifesci Capital raised Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, March 16th. Finally, HC Wainwright reissued a “buy” rating and set a $88.00 price target on shares of Tarsus Pharmaceuticals in a research report on Monday, May 4th.

Tarsus Pharmaceuticals Stock Down 2.2%

Shares of TARS opened at $62.92 on Friday. The firm has a market cap of $2.71 billion, a PE ratio of -55.19 and a beta of 0.49. The company’s fifty day moving average is $62.40 and its two-hundred day moving average is $68.82. Tarsus Pharmaceuticals has a fifty-two week low of $38.51 and a fifty-two week high of $85.25. The company has a quick ratio of 3.71, a current ratio of 3.74 and a debt-to-equity ratio of 0.21.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share for the quarter, beating 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 firm had revenue of $162.05 million for the quarter, compared to analysts’ expectations of $149.60 million. Analysts forecast that Tarsus Pharmaceuticals will post -0.59 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director William J. Phd Link sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $62.12, for a total transaction of $776,500.00. Following the completion of the transaction, the director directly owned 106,786 shares in the company, valued at approximately $6,633,546.32. The trade was a 10.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak R. Azamian sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer directly owned 847,991 shares in the company, valued at $52,193,846.05. This trade represents a 1.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 39,850 shares of company stock valued at $2,452,821. Corporate insiders own 9.64% of the company’s stock.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several hedge funds have recently made changes to their positions in TARS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Tarsus Pharmaceuticals by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock worth $1,137,000 after buying an additional 1,217 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Tarsus Pharmaceuticals by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,220 shares of the company’s stock worth $3,659,000 after acquiring an additional 1,394 shares in the last quarter. Jane Street Group LLC lifted its stake in Tarsus Pharmaceuticals by 105.8% in the 1st quarter. Jane Street Group LLC now owns 10,456 shares of the company’s stock worth $537,000 after acquiring an additional 190,000 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Tarsus Pharmaceuticals by 402.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 140,610 shares of the company’s stock worth $5,696,000 after acquiring an additional 112,637 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Tarsus Pharmaceuticals by 12.3% in the 2nd quarter. Invesco Ltd. now owns 928,501 shares of the company’s stock worth $37,614,000 after acquiring an additional 101,978 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.