Bobak R. Azamian Sells 7,131 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak R. Azamian sold 7,131 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total value of $330,093.99. Following the completion of the sale, the chief executive officer now owns 70,720 shares in the company, valued at $3,273,628.80. This trade represents a 9.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tarsus Pharmaceuticals Trading Up 0.7 %

Shares of TARS traded up $0.36 during trading hours on Thursday, hitting $49.91. 618,361 shares of the stock traded hands, compared to its average volume of 639,768. 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, Inc. has a 1-year low of $20.08 and a 1-year high of $57.28. The firm has a market capitalization of $1.92 billion, a PE ratio of -13.10 and a beta of 1.05. The business has a fifty day moving average of $48.54 and a 200-day moving average of $45.06.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. The business had revenue of $66.41 million for the quarter, compared to analyst estimates of $58.80 million. Analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Large investors have recently made changes to their positions in the company. Crowley Wealth Management Inc. acquired a new position in shares of Tarsus Pharmaceuticals during the fourth quarter valued at $25,000. GF Fund Management CO. LTD. acquired a new position in Tarsus Pharmaceuticals in the fourth quarter valued at about $44,000. R Squared Ltd acquired a new position in Tarsus Pharmaceuticals in the fourth quarter valued at about $53,000. FMR LLC lifted its stake in Tarsus Pharmaceuticals by 236.6% in the third quarter. FMR LLC now owns 5,032 shares of the company’s stock valued at $166,000 after buying an additional 3,537 shares during the period. Finally, Quarry LP acquired a new position in Tarsus Pharmaceuticals in the fourth quarter valued at about $166,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

TARS has been the topic of a number of analyst reports. Oppenheimer upped their price target on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Barclays decreased their target price on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $78.00 target price (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th. HC Wainwright restated a “buy” rating and set a $73.00 target price on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 26th. Finally, Jefferies Financial Group increased their target price on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $63.67.

Tarsus Pharmaceuticals Company Profile

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.