Toronto Dominion Bank Acquires New Position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Toronto Dominion Bank bought a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,909,228 shares of the company’s stock, valued at approximately $105,714,000. Toronto Dominion Bank owned about 4.99% of Tarsus Pharmaceuticals at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Sherbrooke Park Advisers LLC boosted its stake in shares of Tarsus Pharmaceuticals by 7.2% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 6,571 shares of the company’s stock valued at $364,000 after purchasing an additional 443 shares in the last quarter. ProShare Advisors LLC increased its position in Tarsus Pharmaceuticals by 32.3% during the 4th quarter. ProShare Advisors LLC now owns 12,170 shares of the company’s stock worth $674,000 after purchasing an additional 2,970 shares in the last quarter. Paradigm Biocapital Advisors LP lifted its stake in Tarsus Pharmaceuticals by 3.7% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 2,531,896 shares of the company’s stock valued at $140,191,000 after purchasing an additional 91,451 shares during the last quarter. Numerai GP LLC acquired a new stake in Tarsus Pharmaceuticals in the fourth quarter valued at approximately $1,034,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Tarsus Pharmaceuticals during the fourth quarter worth $410,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity

In other Tarsus Pharmaceuticals news, insider Dianne C. Whitfield sold 2,137 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $107,085.07. Following the sale, the insider now owns 46,355 shares of the company’s stock, valued at approximately $2,322,849.05. This represents a 4.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Bobak R. Azamian sold 8,534 shares of Tarsus Pharmaceuticals stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $50.11, for a total value of $427,638.74. Following the completion of the transaction, the chief executive officer now directly owns 53,635 shares of the company’s stock, valued at approximately $2,687,649.85. This trade represents a 13.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,542 shares of company stock valued at $1,581,173. 8.25% of the stock is currently owned by insiders.

Tarsus Pharmaceuticals Trading Up 0.5%

Shares of TARS stock opened at $43.70 on Friday. Tarsus Pharmaceuticals, Inc. has a 1-year low of $20.08 and a 1-year high of $57.28. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -11.47 and a beta of 0.94. The stock has a 50-day moving average of $48.05 and a 200-day moving average of $49.20.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its earnings results on Thursday, May 1st. The company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.05. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. The business had revenue of $78.34 million for the quarter, compared to analysts’ expectations of $72.50 million. On average, equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $73.00 price target on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. Oppenheimer increased their target price on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group lifted their price target on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Barclays lowered their price objective on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Guggenheim lifted their target price on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Tarsus Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $66.33.

Tarsus Pharmaceuticals 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.