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 stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $90.56, for a total transaction of $905,600.00. Following the sale, the chief executive officer owned 827,991 shares in the company, valued at $74,982,864.96. The trade was a 1.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tarsus Pharmaceuticals Price Performance

TARS stock opened at $81.12 on Friday. The company’s 50-day moving average price is $67.84 and its two-hundred day moving average price is $66.55. The firm has a market cap of $3.56 billion, a P/E ratio of -74.42 and a beta of 0.54. The company has a quick ratio of 3.17, a current ratio of 3.20 and a debt-to-equity ratio of 0.21. Tarsus Pharmaceuticals, Inc. has a 12 month low of $48.20 and a 12 month high of $91.53.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.24). The firm had revenue of $173.91 million for the quarter, compared to the consensus estimate of $169.65 million. Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%. On average, analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -2.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TARS. Mizuho reduced their target price on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Wall Street Zen downgraded Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Guggenheim reduced their price objective on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. HC Wainwright reiterated a “buy” rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.57.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several large investors have recently modified their holdings of the business. TimesSquare Capital Management LLC grew its holdings in Tarsus Pharmaceuticals by 24.3% in 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 during the period. Bank of America Corp DE increased its stake in Tarsus Pharmaceuticals by 57.5% in the first quarter. Bank of America Corp DE now owns 1,194,377 shares of the company’s stock valued at $83,786,000 after purchasing an additional 436,271 shares in the last quarter. Ishara Investments LP acquired a new position in shares of Tarsus Pharmaceuticals during the fourth quarter valued at about $1,965,000. Emerald Investment Advisers LLC bought a new position in shares of Tarsus Pharmaceuticals during the 2nd quarter worth about $3,760,000. Finally, Legato Capital Management LLC boosted its position in shares of Tarsus Pharmaceuticals by 122.1% during the 4th quarter. Legato Capital Management LLC now owns 17,755 shares of the company’s stock worth $1,454,000 after purchasing an additional 9,760 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.