Tarsus Pharmaceuticals (NASDAQ:TARS) CEO Sells $615,500.00 in Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak 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 completion of the transaction, the chief executive officer directly owned 847,991 shares of the company’s stock, valued at approximately $52,193,846.05. This represents a 1.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tarsus Pharmaceuticals Stock Up 1.4%

Shares of NASDAQ:TARS opened at $67.11 on Thursday. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of -58.87 and a beta of 0.49. Tarsus Pharmaceuticals, Inc. has a 1-year low of $38.51 and a 1-year high of $85.25. The company’s fifty day moving average is $62.76 and its two-hundred day moving average is $68.98. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.71 and a current ratio of 3.74.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) EPS 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 during the quarter, compared to analyst estimates of $149.60 million. Equities analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -0.59 EPS for the current year.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

A number of hedge funds have recently made changes to their positions in TARS. Seven Fleet Capital Management LP grew its holdings in Tarsus Pharmaceuticals by 340.0% in 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 in the last quarter. Parallel Advisors LLC raised its stake in Tarsus Pharmaceuticals by 139.2% during the 1st quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock valued at $35,000 after acquiring an additional 291 shares in the last quarter. Bank of America Corp DE raised its stake in Tarsus Pharmaceuticals by 57.5% during the 1st quarter. Bank of America Corp DE now owns 1,194,377 shares of the company’s stock valued at $83,786,000 after acquiring an additional 436,271 shares in the last quarter. Janus Henderson Group PLC raised its stake in Tarsus Pharmaceuticals by 16.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,240,963 shares of the company’s stock valued at $157,223,000 after acquiring an additional 310,638 shares in the last quarter. Finally, Tri Locum Partners LP acquired a new position in Tarsus Pharmaceuticals during the 1st quarter worth $17,719,000. Institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Zacks Research downgraded Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. HC Wainwright reaffirmed a “buy” rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a research report on Monday, May 4th. Guggenheim raised their target price on Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Oppenheimer assumed coverage on shares of Tarsus Pharmaceuticals in a report on Friday, April 24th. They set an “outperform” rating and a $98.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.67.

Tarsus Pharmaceuticals Company Profile

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.