Tarsus Pharmaceuticals (NASDAQ:TARS) Upgraded by Wall Street Zen to “Buy” Rating

Tarsus Pharmaceuticals (NASDAQ:TARS) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday.

Several other analysts have also recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $88.00 target price on shares of Tarsus Pharmaceuticals in a research report on Monday, May 4th. Lifesci Capital upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, March 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Tuesday, April 21st. Finally, Oppenheimer began coverage on Tarsus Pharmaceuticals in a research note on Friday, April 24th. They set an “outperform” rating and a $98.00 price objective for the company. Two equities 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.67.

Tarsus Pharmaceuticals Stock Down 2.2%

Shares of NASDAQ:TARS opened at $62.92 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.74 and a quick ratio of 3.71. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -55.19 and a beta of 0.49. The company has a 50 day moving average of $62.40 and a 200-day moving average of $68.82. Tarsus Pharmaceuticals has a one year low of $38.51 and a one year high of $85.25.

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

Insider Activity

In other Tarsus Pharmaceuticals news, Director William J. Phd Link sold 12,500 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $62.12, for a total value of $776,500.00. Following the sale, the director directly owned 106,786 shares in the company, valued at approximately $6,633,546.32. This trade represents a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Tarsus Pharmaceuticals stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total transaction of $615,500.00. Following the transaction, the chief executive officer directly owned 847,991 shares in the company, valued at approximately $52,193,846.05. This represents a 1.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 39,850 shares of company stock worth $2,452,821 in the last ninety days. Company insiders own 9.64% of the company’s stock.

Institutional Trading of Tarsus Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. Seven Fleet Capital Management LP raised its stake in 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 buying an additional 15,300 shares during the period. Parallel Advisors LLC grew its stake in Tarsus Pharmaceuticals by 139.2% in the first quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock valued at $35,000 after acquiring an additional 291 shares during the period. Bank of America Corp DE increased its holdings in shares of Tarsus Pharmaceuticals by 57.5% in the first 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 increased its holdings in shares of Tarsus Pharmaceuticals by 16.1% in the first 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 acquired a new stake in shares of Tarsus Pharmaceuticals during the first quarter worth about $17,719,000. Institutional investors 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.