HC Wainwright Reaffirms “Buy” Rating for Tarsus Pharmaceuticals (NASDAQ:TARS)

Tarsus Pharmaceuticals (NASDAQ:TARS)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report issued on Thursday,Benzinga reports. They currently have a $88.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 29.93% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Lifesci Capital raised Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, March 16th. Oppenheimer initiated coverage on shares of Tarsus Pharmaceuticals in a research note on Friday, April 24th. They set an “outperform” rating and a $98.00 price objective for the company. Wall Street Zen raised shares of Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. Finally, Weiss Ratings reiterated 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 issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.67.

Tarsus Pharmaceuticals Stock Performance

Tarsus Pharmaceuticals stock opened at $67.73 on Thursday. Tarsus Pharmaceuticals has a twelve month low of $38.51 and a twelve month high of $85.25. The company has a quick ratio of 3.71, a current ratio of 3.74 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.91 billion, a P/E ratio of -59.41 and a beta of 0.50. The stock’s 50 day moving average is $62.58 and its 200 day moving average is $67.90.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative return on equity of 14.19% and a negative net margin of 9.02%.The business had revenue of $162.05 million for the quarter, compared to the consensus estimate of $149.60 million. On average, equities research analysts predict that Tarsus Pharmaceuticals will post -0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jeffrey S. Farrow sold 14,396 shares of Tarsus Pharmaceuticals stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total value of $877,436.20. Following the completion of the sale, the insider directly owned 56,801 shares in the company, valued at approximately $3,462,020.95. This trade represents a 20.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 dated Monday, June 15th. The shares were sold at an average price of $62.12, for a total transaction of $776,500.00. Following the sale, the director directly owned 106,786 shares in the company, valued at approximately $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. In the last ninety days, insiders sold 39,850 shares of company stock valued at $2,452,821. Company insiders own 9.64% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Tarsus Pharmaceuticals by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock worth $1,137,000 after purchasing an additional 1,217 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Tarsus Pharmaceuticals by 2.0% during 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 buying an additional 1,394 shares during the last quarter. Jane Street Group LLC raised its stake in Tarsus Pharmaceuticals by 105.8% during the 1st quarter. Jane Street Group LLC now owns 10,456 shares of the company’s stock valued at $537,000 after buying an additional 190,000 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Tarsus Pharmaceuticals by 402.7% during the 2nd 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 during the period. Finally, Invesco Ltd. lifted its holdings in shares of Tarsus Pharmaceuticals by 12.3% during the 2nd quarter. Invesco Ltd. now owns 928,501 shares of the company’s stock valued at $37,614,000 after buying an additional 101,978 shares during the period. 90.01% of the stock is owned by hedge funds and other 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.