Tarsus Pharmaceuticals (NASDAQ:TARS) Trading 6.7% Higher – Time to Buy?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shot up 6.7% on Thursday . The stock traded as high as $64.74 and last traded at $64.9450. Approximately 497,209 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 652,070 shares. The stock had previously closed at $60.89.

Wall Street Analyst Weigh In

TARS has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and set a $88.00 target price on shares of Tarsus Pharmaceuticals in a research note on Monday, May 4th. Lifesci Capital upgraded shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Monday, March 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Tuesday, April 21st. Oppenheimer started coverage on shares of Tarsus Pharmaceuticals in a research report on Friday, April 24th. They issued an “outperform” rating and a $98.00 target price for the company. Finally, Wall Street Zen upgraded shares of Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Tarsus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.67.

Tarsus Pharmaceuticals Stock Performance

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 firm has a market cap of $2.82 billion, a P/E ratio of -57.40 and a beta of 0.50. The business has a fifty day simple moving average of $62.14 and a 200-day simple moving average of $68.19.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share for the quarter, topping 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 firm had revenue of $162.05 million for the quarter, compared to the consensus estimate of $149.60 million. On average, sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -0.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeffrey S. Farrow sold 14,396 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total value of $877,436.20. Following the sale, the insider owned 56,801 shares in the company, valued at $3,462,020.95. This represents a 20.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 firm’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 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. In the last 90 days, insiders sold 39,850 shares of company stock valued at $2,452,821. 9.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

A number of hedge funds have recently bought and sold shares of TARS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Tarsus Pharmaceuticals by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock worth $1,137,000 after buying an additional 1,217 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Tarsus Pharmaceuticals by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,220 shares of the company’s stock valued at $3,659,000 after acquiring an additional 1,394 shares in the last quarter. Jane Street Group LLC raised its holdings in Tarsus Pharmaceuticals by 105.8% in the 1st quarter. Jane Street Group LLC now owns 10,456 shares of the company’s stock worth $537,000 after acquiring an additional 190,000 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Tarsus Pharmaceuticals by 402.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 140,610 shares of the company’s stock worth $5,696,000 after acquiring an additional 112,637 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Tarsus Pharmaceuticals by 12.3% in the 2nd quarter. Invesco Ltd. now owns 928,501 shares of the company’s stock valued at $37,614,000 after acquiring an additional 101,978 shares in the last quarter. 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.