Tarsus Pharmaceuticals (NASDAQ:TARS) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Tarsus Pharmaceuticals (NASDAQ:TARS) from a buy rating to a hold rating in a research note published on Thursday morning.

A number of other equities research analysts have also recently commented on TARS. Oppenheimer raised their price objective on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group increased their target price on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Jefferies Financial Group lifted their price target on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Guggenheim lifted their price target on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Finally, Barclays dropped their price target on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $66.33.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ TARS opened at $42.98 on Thursday. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -11.28 and a beta of 0.94. Tarsus Pharmaceuticals has a 12 month low of $20.08 and a 12 month high of $57.28. The firm’s 50 day simple moving average is $47.73 and its 200-day simple moving average is $49.12. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.05. The business had revenue of $78.34 million for the quarter, compared to analysts’ expectations of $72.50 million. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. Analysts expect that Tarsus Pharmaceuticals will post -3.17 EPS for the current year.

Insider Activity at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, insider Dianne C. Whitfield sold 2,315 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total value of $107,161.35. Following the transaction, the insider now owns 50,751 shares in the company, valued at approximately $2,349,263.79. This trade represents a 4.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Bobak R. Azamian sold 6,000 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the transaction, the chief executive officer now owns 824,106 shares in the company, valued at $41,205,300. The trade was a 0.72% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,542 shares of company stock valued at $1,581,173. 8.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TARS. Crowley Wealth Management Inc. purchased a new position in Tarsus Pharmaceuticals in the 4th quarter valued at $25,000. GF Fund Management CO. LTD. purchased a new position in Tarsus Pharmaceuticals in the 4th quarter valued at $44,000. R Squared Ltd purchased a new position in Tarsus Pharmaceuticals in the 4th quarter valued at $53,000. Amalgamated Bank raised its holdings in shares of Tarsus Pharmaceuticals by 30.1% during the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company’s stock worth $65,000 after acquiring an additional 295 shares during the period. Finally, Quarry LP purchased a new position in shares of Tarsus Pharmaceuticals during the 4th quarter worth $166,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Company 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.