Connor Clark & Lunn Investment Management Ltd. Invests $2.45 Million in Tarsus Pharmaceuticals, Inc. $TARS

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) in the second quarter, HoldingsChannel reports. The fund bought 60,495 shares of the company’s stock, valued at approximately $2,451,000.

Other large investors have also recently bought and sold shares of the company. Paradigm Biocapital Advisors LP lifted its holdings in Tarsus Pharmaceuticals by 3.1% during the 1st quarter. Paradigm Biocapital Advisors LP now owns 2,610,197 shares of the company’s stock worth $134,086,000 after buying an additional 78,301 shares during the last quarter. Vanguard Group Inc. lifted its stake in Tarsus Pharmaceuticals by 5.3% during the first quarter. Vanguard Group Inc. now owns 2,226,595 shares of the company’s stock worth $114,380,000 after purchasing an additional 111,433 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in Tarsus Pharmaceuticals by 4.0% during the first quarter. Lord Abbett & CO. LLC now owns 1,331,701 shares of the company’s stock worth $68,409,000 after purchasing an additional 51,714 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in Tarsus Pharmaceuticals in the first quarter valued at approximately $36,876,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Tarsus Pharmaceuticals in the 1st quarter valued at $26,199,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

TARS has been the topic of several research analyst reports. Wall Street Zen raised Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Zacks Research raised shares of Tarsus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Friday, September 5th. The Goldman Sachs Group reissued a “neutral” rating and issued a $51.00 target price on shares of Tarsus Pharmaceuticals in a report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Guggenheim increased their price objective on shares of Tarsus Pharmaceuticals from $84.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $69.83.

Tarsus Pharmaceuticals Price Performance

TARS stock opened at $72.92 on Friday. The company has a quick ratio of 4.25, a current ratio of 4.29 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of -36.10 and a beta of 0.82. The stock’s fifty day simple moving average is $64.34 and its 200-day simple moving average is $52.07. Tarsus Pharmaceuticals, Inc. has a 52-week low of $38.51 and a 52-week high of $76.81.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.05. Tarsus Pharmaceuticals had a negative net margin of 22.17% and a negative return on equity of 26.29%. The business had revenue of $118.70 million for the quarter, compared to analyst estimates of $114.22 million. Equities research analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Insider Activity

In other news, Director William J. Phd Link sold 27,116 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $57.00, for a total value of $1,545,612.00. Following the transaction, the director directly owned 143,332 shares in the company, valued at $8,169,924. This trade represents a 15.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Bobak R. Azamian sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $55.37, for a total transaction of $332,220.00. Following the completion of the transaction, the chief executive officer owned 812,106 shares in the company, valued at $44,966,309.22. The trade was a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 8.97% of the company’s stock.

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.