Essex Investment Management Co. LLC Decreases Holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Essex Investment Management Co. LLC trimmed its position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 26.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,760 shares of the company’s stock after selling 29,396 shares during the period. Essex Investment Management Co. LLC owned about 0.21% of Tarsus Pharmaceuticals worth $4,416,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Tarsus Pharmaceuticals by 2,088.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company’s stock valued at $14,477,000 after buying an additional 420,057 shares in the last quarter. Vestal Point Capital LP bought a new position in Tarsus Pharmaceuticals during the 3rd quarter worth approximately $7,565,000. Jennison Associates LLC grew its position in Tarsus Pharmaceuticals by 14.8% during the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock worth $138,432,000 after acquiring an additional 321,552 shares during the last quarter. Verition Fund Management LLC bought a new position in Tarsus Pharmaceuticals during the 3rd quarter worth approximately $763,000. Finally, Mutual of America Capital Management LLC bought a new position in Tarsus Pharmaceuticals during the 3rd quarter worth approximately $4,291,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TARS has been the topic of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $73.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. Jefferies Financial Group lifted their price objective on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays cut their price objective on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $78.00 price objective (up from $75.00) on shares of Tarsus Pharmaceuticals in a research report on Monday, February 24th. Finally, The Goldman Sachs Group lifted their price objective on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $63.67.

Tarsus Pharmaceuticals Stock Up 6.7 %

Shares of NASDAQ:TARS opened at $46.47 on Friday. The stock has a fifty day simple moving average of $49.97 and a two-hundred day simple moving average of $43.88. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of -12.20 and a beta of 1.05. Tarsus Pharmaceuticals, Inc. has a 12-month low of $20.08 and a 12-month high of $57.28. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced 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 during 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%. On average, research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

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.