Thoroughbred Financial Services LLC Purchases New Stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Thoroughbred Financial Services LLC bought a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 4,745 shares of the company’s stock, valued at approximately $262,000.

A number of other large investors have also made changes to their positions in TARS. Crowley Wealth Management Inc. purchased a new stake in Tarsus Pharmaceuticals during the fourth quarter worth about $25,000. R Squared Ltd purchased a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter worth approximately $53,000. FMR LLC grew its holdings in shares of Tarsus Pharmaceuticals by 236.6% in the 3rd quarter. FMR LLC now owns 5,032 shares of the company’s stock worth $166,000 after acquiring an additional 3,537 shares during the period. HighTower Advisors LLC acquired a new stake in Tarsus Pharmaceuticals in the fourth quarter valued at $207,000. Finally, Victory Capital Management Inc. purchased a new position in shares of Tarsus Pharmaceuticals in the fourth quarter valued at $223,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Stock Down 5.1 %

Shares of NASDAQ:TARS opened at $47.02 on Monday. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -12.34 and a beta of 0.94. The stock’s 50-day moving average price is $49.18 and its two-hundred day moving average price is $46.82. Tarsus Pharmaceuticals, Inc. has a 12-month low of $20.08 and a 12-month high of $57.28.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its earnings results 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 business had revenue of $66.41 million for the quarter, compared to analysts’ expectations of $58.80 million. On average, research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Insider Transactions at Tarsus Pharmaceuticals

In other news, insider Dianne C. Whitfield sold 2,137 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total value of $107,085.07. Following the completion of the sale, the insider now owns 46,355 shares of the company’s stock, valued at $2,322,849.05. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bobak R. Azamian sold 8,534 shares of Tarsus Pharmaceuticals stock in a transaction 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 transaction, the chief executive officer now owns 53,635 shares in the company, valued at $2,687,649.85. The trade was a 13.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,542 shares of company stock worth $1,581,173 in the last ninety days. Insiders own 8.25% of the company’s stock.

Analyst Upgrades and Downgrades

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

Tarsus Pharmaceuticals Company 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.