Tarsus Pharmaceuticals (NASDAQ:TARS) Insider Sells $877,436.20 in Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) insider Jeffrey Farrow sold 14,396 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total transaction of $877,436.20. Following the completion of the sale, the insider directly owned 56,801 shares of the company’s stock, valued at $3,462,020.95. The trade was a 20.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ TARS opened at $63.16 on Friday. Tarsus Pharmaceuticals, Inc. has a twelve month low of $38.51 and a twelve month high of $85.25. The stock’s 50 day moving average price is $63.18 and its 200-day moving average price is $69.38. The company has a market capitalization of $2.72 billion, a PE ratio of -55.40 and a beta of 0.49. The company has a quick ratio of 3.71, a current ratio of 3.74 and a debt-to-equity ratio of 0.21.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.24. The company had revenue of $162.05 million during the quarter, compared to the consensus estimate of $149.60 million. Tarsus Pharmaceuticals had a negative return on equity of 14.19% and a negative net margin of 9.02%. On average, equities analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -0.59 EPS for the current year.

Analyst Upgrades and Downgrades

TARS has been the topic of a number of research analyst reports. Guggenheim boosted their price target on shares of Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Zacks Research lowered shares of Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. HC Wainwright reiterated a “buy” rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a research note on Monday, May 4th. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Tuesday, April 21st. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Tarsus Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. RTW Investments LP raised its stake in Tarsus Pharmaceuticals by 5.0% in the 4th quarter. RTW Investments LP now owns 3,335,320 shares of the company’s stock valued at $273,096,000 after acquiring an additional 157,884 shares during the period. Deep Track Capital LP increased its stake in shares of Tarsus Pharmaceuticals by 71.4% in the third quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock worth $178,290,000 after purchasing an additional 1,250,000 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Tarsus Pharmaceuticals by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company’s stock worth $196,476,000 after purchasing an additional 127,470 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Tarsus Pharmaceuticals by 16.1% in the first quarter. Janus Henderson Group PLC now owns 2,240,963 shares of the company’s stock valued at $157,223,000 after purchasing an additional 310,638 shares during the period. Finally, Morgan Stanley raised its position in shares of Tarsus Pharmaceuticals by 6.7% in the fourth quarter. Morgan Stanley now owns 2,040,742 shares of the company’s stock valued at $167,096,000 after purchasing an additional 128,340 shares during the period. 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.