Tarsus Pharmaceuticals (NASDAQ:TARS) Price Target Cut to $98.00 by Analysts at Mizuho

Tarsus Pharmaceuticals (NASDAQ:TARS) had its target price dropped by investment analysts at Mizuho from $100.00 to $98.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 66.80% from the stock’s previous close.

Several other equities research analysts also recently issued reports on TARS. Oppenheimer started coverage on Tarsus Pharmaceuticals in a research report on Friday, April 24th. They issued an “outperform” rating and a $98.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Guggenheim cut their price target on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, HC Wainwright reiterated a “buy” rating and set a $88.00 target price on shares of Tarsus Pharmaceuticals in a research note on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Tarsus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.17.

Tarsus Pharmaceuticals Stock Down 1.3%

Shares of TARS traded down $0.79 during trading hours on Friday, hitting $58.75. 204,941 shares of the company were exchanged, compared to its average volume of 739,338. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.71 and a current ratio of 3.74. The company has a market cap of $2.53 billion, a PE ratio of -51.58 and a beta of 0.50. The firm’s 50 day moving average is $61.23 and its 200-day moving average is $65.38. Tarsus Pharmaceuticals has a 52 week low of $38.51 and a 52 week high of $85.25.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative return on equity of 14.19% and a negative net margin of 9.02%.The business had revenue of $162.05 million for the quarter, compared to the consensus estimate of $149.60 million. On average, equities research analysts forecast that Tarsus Pharmaceuticals will post -1.04 EPS for the current fiscal year.

Insider Transactions at Tarsus Pharmaceuticals

In related news, insider Jeffrey S. Farrow sold 14,396 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total transaction of $877,436.20. Following the transaction, the insider directly owned 56,801 shares in the company, valued at $3,462,020.95. The trade was a 20.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William J. Phd Link sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $62.12, for a total value of $776,500.00. Following the completion of the transaction, the director directly owned 106,786 shares of the company’s stock, valued at approximately $6,633,546.32. This trade represents a 10.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 39,850 shares of company stock valued at $2,452,821. 9.64% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TARS. RTW Investments LP lifted its position in Tarsus Pharmaceuticals by 5.0% in the fourth quarter. RTW Investments LP now owns 3,335,320 shares of the company’s stock worth $273,096,000 after purchasing an additional 157,884 shares during the period. Deep Track Capital LP increased its holdings in Tarsus Pharmaceuticals by 71.4% in the 3rd quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock valued at $178,290,000 after buying an additional 1,250,000 shares during the period. Vanguard Group Inc. raised its stake in shares of Tarsus Pharmaceuticals by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company’s stock valued at $196,476,000 after buying an additional 127,470 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Tarsus Pharmaceuticals by 16.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,240,963 shares of the company’s stock valued at $157,223,000 after buying an additional 310,638 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Tarsus Pharmaceuticals by 6.7% during the 4th quarter. Morgan Stanley now owns 2,040,742 shares of the company’s stock worth $167,096,000 after acquiring an additional 128,340 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

About Tarsus Pharmaceuticals

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.