Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Down 5.1% – Here’s What Happened

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares fell 5.1% during trading on Thursday . The company traded as low as $66.15 and last traded at $64.2490. Approximately 60,286 shares changed hands during trading, a decline of 91% from the average daily volume of 677,016 shares. The stock had previously closed at $67.73.

Wall Street Analyst Weigh In

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

Tarsus Pharmaceuticals Stock Down 7.7%

The firm has a market cap of $2.69 billion, a P/E ratio of -54.79 and a beta of 0.50. The firm’s 50 day moving average is $62.58 and its two-hundred day moving average is $67.90. The company has a current ratio of 3.74, a quick ratio of 3.71 and a debt-to-equity ratio of 0.21.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.24. The firm 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, research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -0.59 EPS for the current fiscal year.

Insider Activity

In related news, insider Jeffrey S. Farrow sold 14,396 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $60.95, for a total value of $877,436.20. Following the completion of 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 Securities & Exchange Commission, which is available at this link. 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 on Monday, June 15th. The stock was sold at an average price of $62.12, for a total value of $776,500.00. Following the sale, the director directly owned 106,786 shares in the company, valued at $6,633,546.32. The trade was a 10.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 39,850 shares of company stock worth $2,452,821 over the last quarter. Corporate insiders own 9.64% of the company’s stock.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its holdings in Tarsus Pharmaceuticals by 139.2% during the 1st quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 291 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Tarsus Pharmaceuticals by 367.1% in the first quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock valued at $50,000 after purchasing an additional 558 shares in the last quarter. Comerica Bank boosted its position in shares of Tarsus Pharmaceuticals by 470.0% during the fourth quarter. Comerica Bank now owns 855 shares of the company’s stock worth $70,000 after buying an additional 705 shares during the period. Truvestments Capital LLC boosted its position in shares of Tarsus Pharmaceuticals by 106.1% during the fourth quarter. Truvestments Capital LLC now owns 909 shares of the company’s stock worth $74,000 after buying an additional 468 shares during the period. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Tarsus Pharmaceuticals by 15.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock worth $105,000 after buying an additional 172 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

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.