Bobak Azamian Sells 10,000 Shares of Tarsus Pharmaceuticals (NASDAQ:TARS) Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak Azamian sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total value of $615,500.00. Following the completion of the transaction, the chief executive officer owned 847,991 shares of the company’s stock, valued at $52,193,846.05. The trade was a 1.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tarsus Pharmaceuticals Stock Performance

TARS traded up $0.40 during trading on Monday, reaching $63.56. 788,622 shares of the company’s stock were exchanged, compared to its average volume of 606,229. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $38.51 and a fifty-two week high of $85.25. The company has a quick ratio of 3.71, a current ratio of 3.74 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $63.18 and a 200 day moving average price of $69.31. The company has a market capitalization of $2.73 billion, a P/E ratio of -55.75 and a beta of 0.49.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative net margin of 9.02% and a negative return on equity of 14.19%. The company had revenue of $162.05 million during the quarter, compared to analysts’ expectations of $149.60 million. As a group, analysts predict that Tarsus Pharmaceuticals, Inc. will post -0.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on TARS. Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Tuesday, April 21st. Guggenheim lifted their price objective on Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Lifesci Capital upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a research note on Monday, March 16th. Oppenheimer started coverage on Tarsus Pharmaceuticals in a report on Friday, April 24th. They issued an “outperform” rating and a $98.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and set a $88.00 target price on shares of Tarsus Pharmaceuticals in a research report on Monday, May 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 stock has an average rating of “Moderate Buy” and an average price target of $90.67.

Institutional Trading of Tarsus Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in 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 acquiring an additional 127,470 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in shares of Tarsus Pharmaceuticals by 24.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 332,446 shares of the company’s stock worth $27,221,000 after purchasing an additional 64,941 shares in the last quarter. Citigroup Inc. lifted its position in shares of Tarsus Pharmaceuticals by 78.1% during the third quarter. Citigroup Inc. now owns 40,591 shares of the company’s stock worth $2,412,000 after purchasing an additional 17,797 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Tarsus Pharmaceuticals by 19.9% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 109,857 shares of the company’s stock valued at $8,995,000 after purchasing an additional 18,267 shares during the last quarter. Finally, D.A. Davidson & CO. bought a new stake in shares of Tarsus Pharmaceuticals during the fourth quarter valued at approximately $1,493,000. 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.