Tarsus Pharmaceuticals, Inc. $TARS Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. increased its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 51.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,400 shares of the company’s stock after purchasing an additional 61,595 shares during the quarter. Prudential Financial Inc. owned 0.43% of Tarsus Pharmaceuticals worth $7,389,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TARS. Rhumbline Advisers boosted its stake in shares of Tarsus Pharmaceuticals by 11.5% during the 2nd quarter. Rhumbline Advisers now owns 57,650 shares of the company’s stock worth $2,335,000 after acquiring an additional 5,968 shares in the last quarter. AlphaCore Capital LLC acquired a new position in shares of Tarsus Pharmaceuticals in the 2nd quarter valued at $490,000. Franklin Resources Inc. increased its stake in Tarsus Pharmaceuticals by 3.6% in the 2nd quarter. Franklin Resources Inc. now owns 21,402 shares of the company’s stock worth $867,000 after purchasing an additional 750 shares in the last quarter. Legal & General Group Plc raised its holdings in Tarsus Pharmaceuticals by 28.4% during the 2nd quarter. Legal & General Group Plc now owns 35,426 shares of the company’s stock worth $1,435,000 after buying an additional 7,832 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Tarsus Pharmaceuticals by 402.7% during the second quarter. JPMorgan Chase & Co. now owns 140,610 shares of the company’s stock valued at $5,696,000 after buying an additional 112,637 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ:TARS opened at $79.73 on Friday. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of -39.47 and a beta of 0.82. Tarsus Pharmaceuticals, Inc. has a 1 year low of $38.51 and a 1 year high of $83.47. The company has a current ratio of 4.29, a quick ratio of 4.25 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $69.47 and a 200 day simple moving average of $54.20.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its earnings results on Tuesday, November 4th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. Tarsus Pharmaceuticals had a negative return on equity of 26.29% and a negative net margin of 22.17%.The firm had revenue of $118.70 million for the quarter, compared to the consensus estimate of $114.22 million. As a group, sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TARS has been the subject of several research analyst reports. The Goldman Sachs Group restated a “neutral” rating and issued a $51.00 price target on shares of Tarsus Pharmaceuticals in a research report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Wednesday, October 8th. Wall Street Zen upgraded Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Zacks Research raised Tarsus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, September 5th. Finally, HC Wainwright raised their price objective on Tarsus Pharmaceuticals from $72.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $74.14.

Insider Buying and Selling

In related news, Director William J. Phd Link sold 27,116 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $57.00, for a total transaction of $1,545,612.00. Following the transaction, the director owned 143,332 shares of the company’s stock, valued at approximately $8,169,924. This trade represents a 15.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bobak R. Azamian sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $55.37, for a total transaction of $332,220.00. Following the completion of the sale, the chief executive officer directly owned 812,106 shares of the company’s stock, valued at $44,966,309.22. This represents a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 8.97% of the company’s stock.

Tarsus Pharmaceuticals Profile

Tarsus Pharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for eye care in the United States. The company's lead product candidate is XDEMVY, a novel therapeutic for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.