Tarsus Pharmaceuticals (NASDAQ:TARS) Posts Earnings Results, Beats Estimates By $0.05 EPS

Tarsus Pharmaceuticals (NASDAQ:TARS) released its quarterly earnings results on Tuesday. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05, Zacks reports. Tarsus Pharmaceuticals had a negative net margin of 31.13% and a negative return on equity of 32.36%.

Tarsus Pharmaceuticals Stock Performance

TARS stock traded up $1.71 during mid-day trading on Tuesday, hitting $71.50. The company had a trading volume of 825,138 shares, compared to its average volume of 657,182. The firm has a market cap of $3.02 billion, a PE ratio of -30.69 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.21 and a current ratio of 5.26. Tarsus Pharmaceuticals has a 12 month low of $38.51 and a 12 month high of $76.81. The stock’s fifty day moving average price is $61.91 and its two-hundred day moving average price is $50.70.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TARS shares. HC Wainwright raised their price target on shares of Tarsus Pharmaceuticals from $72.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of Tarsus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Friday, September 5th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Tarsus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $69.33.

Insider Activity

In other Tarsus Pharmaceuticals news, Director William J. Phd Link sold 27,116 shares of Tarsus Pharmaceuticals stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $57.00, for a total value of $1,545,612.00. Following the sale, the director owned 143,332 shares of the company’s stock, valued at approximately $8,169,924. The trade was a 15.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Bobak R. Azamian sold 6,000 shares of Tarsus Pharmaceuticals stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $55.37, for a total transaction of $332,220.00. Following the completion of the sale, the chief executive officer directly owned 812,106 shares in the company, valued at approximately $44,966,309.22. This represents a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 39,116 shares of company stock worth $2,177,832. Insiders own 8.97% of the company’s stock.

Institutional Trading of Tarsus Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Federated Hermes Inc. raised its position in shares of Tarsus Pharmaceuticals by 0.6% in the second quarter. Federated Hermes Inc. now owns 55,021 shares of the company’s stock valued at $2,229,000 after purchasing an additional 339 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Tarsus Pharmaceuticals by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock valued at $1,137,000 after purchasing an additional 1,217 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Tarsus Pharmaceuticals by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,220 shares of the company’s stock valued at $3,659,000 after purchasing an additional 1,394 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Tarsus Pharmaceuticals by 21.4% in the second quarter. Canada Pension Plan Investment Board now owns 8,500 shares of the company’s stock valued at $344,000 after purchasing an additional 1,500 shares during the period. Finally, Osaic Holdings Inc. raised its position in shares of Tarsus Pharmaceuticals by 779.1% in the second quarter. Osaic Holdings Inc. now owns 2,778 shares of the company’s stock valued at $113,000 after purchasing an additional 2,462 shares during the period. Institutional investors own 90.01% 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.