Tarsus Pharmaceuticals (NASDAQ:TARS) Insider Jeffrey Farrow Sells 14,396 Shares of Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) insider Jeffrey Farrow sold 14,396 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total value of $877,436.20. Following the sale, the insider owned 56,801 shares of the company’s stock, valued at $3,462,020.95. The trade was a 20.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tarsus Pharmaceuticals Stock Up 2.9%

Shares of TARS opened at $62.55 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.71 and a current ratio of 3.74. Tarsus Pharmaceuticals, Inc. has a one year low of $38.51 and a one year high of $85.25. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -54.87 and a beta of 0.49. The stock has a 50 day moving average price of $63.47 and a 200 day moving average price of $69.54.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly 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 firm had revenue of $162.05 million during the quarter, compared to analysts’ expectations of $149.60 million. Equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several large investors have recently modified their holdings of TARS. Parallel Advisors LLC lifted its stake in shares of Tarsus Pharmaceuticals by 139.2% in the 1st quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 291 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Tarsus Pharmaceuticals by 367.1% in the 1st 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 during the last quarter. Comerica Bank lifted its stake in shares of 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 purchasing an additional 705 shares during the last quarter. Truvestments Capital LLC lifted its stake in shares of 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 purchasing an additional 468 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of 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 purchasing an additional 172 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

TARS has been the subject of several analyst reports. Lifesci Capital upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Monday, March 16th. Oppenheimer initiated coverage on Tarsus Pharmaceuticals in a report on Friday, April 24th. They issued an “outperform” rating and a $98.00 target price for the company. Zacks Research cut Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. HC Wainwright restated a “buy” rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a report on Monday, May 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.67.

Tarsus Pharmaceuticals Company Profile

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.