Bobak R. Azamian Sells 8,534 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak R. Azamian sold 8,534 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $427,638.74. Following the completion of the transaction, the chief executive officer now directly owns 53,635 shares of the company’s stock, valued at approximately $2,687,649.85. This represents a 13.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Tarsus Pharmaceuticals Price Performance

TARS opened at $49.97 on Friday. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30. Tarsus Pharmaceuticals, Inc. has a 52-week low of $20.08 and a 52-week high of $57.28. The company has a 50 day moving average of $48.48 and a two-hundred day moving average of $45.35. The company has a market cap of $1.92 billion, a P/E ratio of -13.12 and a beta of 1.05.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. The company had revenue of $66.41 million during the quarter, compared to the consensus estimate of $58.80 million. On average, analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Paradigm Biocapital Advisors LP grew its stake in Tarsus Pharmaceuticals by 3.7% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 2,531,896 shares of the company’s stock worth $140,191,000 after buying an additional 91,451 shares during the period. Jennison Associates LLC lifted its position in shares of Tarsus Pharmaceuticals by 14.8% during the fourth quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock worth $138,432,000 after purchasing an additional 321,552 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Tarsus Pharmaceuticals by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,115,162 shares of the company’s stock worth $117,117,000 after purchasing an additional 17,839 shares in the last quarter. Toronto Dominion Bank acquired a new position in shares of Tarsus Pharmaceuticals during the fourth quarter worth $105,714,000. Finally, Lord Abbett & CO. LLC lifted its position in shares of Tarsus Pharmaceuticals by 115.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company’s stock worth $70,873,000 after purchasing an additional 685,111 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TARS has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating and issued a $73.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. Oppenheimer boosted their target price on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Barclays lowered their target price on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and issued a $78.00 target price (up from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th. Finally, Jefferies Financial Group boosted their target price on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, March 6th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tarsus Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $63.67.

About Tarsus Pharmaceuticals

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.