Tarsus Pharmaceuticals (NASDAQ:TARS) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Tarsus Pharmaceuticals (NASDAQ:TARS) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

TARS has been the topic of a number of other reports. Oppenheimer boosted their price objective on Tarsus Pharmaceuticals from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Lifesci Capital raised Tarsus Pharmaceuticals to a “strong-buy” rating in a research note on Monday, March 16th. Zacks Research downgraded Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Thursday, January 22nd. Finally, Guggenheim boosted their price objective on Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Two investment 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 given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.83.

Tarsus Pharmaceuticals Stock Down 1.9%

Shares of TARS opened at $65.97 on Friday. The company has a market capitalization of $2.81 billion, a PE ratio of -40.72 and a beta of 0.63. Tarsus Pharmaceuticals has a 12 month low of $38.51 and a 12 month high of $85.25. The stock’s 50-day moving average price is $69.26 and its two-hundred day moving average price is $72.45. The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.21.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its earnings results on Monday, February 23rd. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $151.67 million for the quarter, compared to analyst estimates of $144.56 million. Tarsus Pharmaceuticals had a negative return on equity of 19.63% and a negative net margin of 14.72%. On average, analysts anticipate that Tarsus Pharmaceuticals will post -0.72 EPS for the current year.

Insiders Place Their Bets

In related news, insider Elizabeth Yeu Lin sold 390 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $67.00, for a total value of $26,130.00. Following the completion of the sale, the insider directly owned 23,308 shares of the company’s stock, valued at $1,561,636. The trade was a 1.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey S. Farrow sold 2,186 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $67.00, for a total value of $146,462.00. Following the completion of the sale, the insider directly owned 43,316 shares of the company’s stock, valued at $2,902,172. The trade was a 4.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 79,391 shares of company stock worth $5,432,035 over the last three months. Insiders own 8.97% of the company’s stock.

Institutional Trading of Tarsus Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank increased its position in Tarsus Pharmaceuticals by 470.0% in the 4th quarter. Comerica Bank now owns 855 shares of the company’s stock valued at $70,000 after buying an additional 705 shares in the last quarter. Truvestments Capital LLC increased its position in Tarsus Pharmaceuticals by 106.1% in the 4th quarter. Truvestments Capital LLC now owns 909 shares of the company’s stock valued at $74,000 after buying an additional 468 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in Tarsus Pharmaceuticals by 15.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock valued at $105,000 after buying an additional 172 shares in the last quarter. Osaic Holdings Inc. increased its position in Tarsus Pharmaceuticals by 779.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,778 shares of the company’s stock valued at $113,000 after buying an additional 2,462 shares in the last quarter. Finally, Leonteq Securities AG bought a new stake in Tarsus Pharmaceuticals in the 4th quarter valued at about $164,000. 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.