Insider Selling: Tarsus Pharmaceuticals (NASDAQ:TARS) Director Sells $183,384.32 in Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Director Katherine Goodrich sold 2,954 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $62.08, for a total transaction of $183,384.32. Following the completion of the transaction, the director owned 2,233 shares of the company’s stock, valued at approximately $138,624.64. The trade was a 56.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ:TARS opened at $63.16 on Friday. Tarsus Pharmaceuticals, Inc. has a 12 month low of $38.51 and a 12 month high of $85.25. The firm has a market capitalization of $2.72 billion, a P/E ratio of -55.40 and a beta of 0.49. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.74 and a quick ratio of 3.71. The company’s fifty day moving average price is $63.18 and its 200 day moving average price is $69.38.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 9.02% and a negative return on equity of 14.19%. As a group, sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Tarsus Pharmaceuticals by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock valued at $1,137,000 after acquiring an additional 1,217 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Tarsus Pharmaceuticals by 2.0% in the 1st 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 purchasing an additional 1,394 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Tarsus Pharmaceuticals by 105.8% in the 1st quarter. Jane Street Group LLC now owns 10,456 shares of the company’s stock valued at $537,000 after purchasing an additional 190,000 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Tarsus Pharmaceuticals by 402.7% in the second quarter. JPMorgan Chase & Co. now owns 140,610 shares of the company’s stock valued at $5,696,000 after purchasing an additional 112,637 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Tarsus Pharmaceuticals by 12.3% in the second quarter. Invesco Ltd. now owns 928,501 shares of the company’s stock valued at $37,614,000 after purchasing an additional 101,978 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

TARS has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Tuesday, April 21st. Lifesci Capital upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a research note on Monday, March 16th. Zacks Research cut Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Guggenheim increased 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. 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 investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.67.

Tarsus Pharmaceuticals Company Profile

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.