Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Down 5.9% – Time to Sell?

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) dropped 5.9% on Thursday . The company traded as low as $67.83 and last traded at $67.58. Approximately 129,433 shares traded hands during trading, a decline of 76% from the average daily volume of 548,299 shares. The stock had previously closed at $71.80.

Analyst Ratings Changes

TARS has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Thursday, January 22nd. Guggenheim boosted their price objective on Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Lifesci Capital raised Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Monday, March 16th. Oppenheimer boosted their price objective on Tarsus Pharmaceuticals from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Finally, Wall Street Zen raised Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.83.

Tarsus Pharmaceuticals Trading Down 6.6%

The company has a market capitalization of $2.85 billion, a P/E ratio of -41.40 and a beta of 0.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.85 and a quick ratio of 3.82. The firm has a fifty day moving average price of $69.09 and a 200-day moving average price of $72.18.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Tarsus Pharmaceuticals had a negative net margin of 14.72% and a negative return on equity of 19.63%. The firm had revenue of $151.67 million for the quarter, compared to the consensus estimate of $144.56 million. On average, equities research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jeffrey S. Farrow sold 2,186 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $67.00, for a total value of $146,462.00. Following the sale, the insider owned 43,316 shares in the company, valued at approximately $2,902,172. This trade represents a 4.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Bryan Wahl sold 4,231 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $67.00, for a total value of $283,477.00. Following the completion of the sale, the general counsel owned 63,959 shares in the company, valued at $4,285,253. This trade represents a 6.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 79,391 shares of company stock valued at $5,432,035 in the last ninety days. 8.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Comerica Bank raised its position in shares of Tarsus Pharmaceuticals by 470.0% in the fourth quarter. Comerica Bank now owns 855 shares of the company’s stock worth $70,000 after buying an additional 705 shares in the last quarter. Truvestments Capital LLC raised its position in shares of Tarsus Pharmaceuticals by 106.1% in the fourth quarter. Truvestments Capital LLC now owns 909 shares of the company’s stock worth $74,000 after buying an additional 468 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Tarsus Pharmaceuticals by 15.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock worth $105,000 after buying an additional 172 shares in the last quarter. 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 worth $113,000 after buying an additional 2,462 shares in the last quarter. Finally, Leonteq Securities AG purchased a new stake in Tarsus Pharmaceuticals during the fourth quarter valued at about $164,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

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.