William Blair Comments on Tarsus Pharmaceuticals, Inc.’s Q1 2024 Earnings (NASDAQ:TARS)

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) – Analysts at William Blair boosted their Q1 2024 earnings per share estimates for shares of Tarsus Pharmaceuticals in a research note issued to investors on Wednesday, April 17th. William Blair analyst T. Lugo now forecasts that the company will post earnings per share of ($1.16) for the quarter, up from their prior estimate of ($1.36). The consensus estimate for Tarsus Pharmaceuticals’ current full-year earnings is ($4.25) per share. William Blair also issued estimates for Tarsus Pharmaceuticals’ FY2024 earnings at ($3.97) EPS and FY2025 earnings at ($1.85) EPS.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($1.31) EPS for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.06. The company had revenue of $13.08 million for the quarter, compared to analysts’ expectations of $4.63 million. During the same quarter in the prior year, the business posted ($0.49) EPS.

Other analysts have also recently issued research reports about the company. Lifesci Capital reiterated an “outperform” rating on shares of Tarsus Pharmaceuticals in a research report on Tuesday, December 26th. The Goldman Sachs Group raised their price target on Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. HC Wainwright raised their price target on Tarsus Pharmaceuticals from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Barclays raised their price target on Tarsus Pharmaceuticals from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Finally, Jefferies Financial Group raised their price target on Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.38.

Tarsus Pharmaceuticals Trading Down 1.2 %

Tarsus Pharmaceuticals stock opened at $32.44 on Friday. The stock has a market cap of $1.11 billion, a PE ratio of -6.99 and a beta of 1.05. The stock has a 50-day moving average price of $33.83 and a 200 day moving average price of $24.37. Tarsus Pharmaceuticals has a 52 week low of $12.57 and a 52 week high of $40.40. The company has a current ratio of 6.93, a quick ratio of 6.85 and a debt-to-equity ratio of 0.15.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in shares of Tarsus Pharmaceuticals by 122.0% during the 2nd quarter. Royal Bank of Canada now owns 2,817 shares of the company’s stock valued at $50,000 after buying an additional 1,548 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Tarsus Pharmaceuticals by 310.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,736 shares of the company’s stock valued at $66,000 after buying an additional 2,825 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in shares of Tarsus Pharmaceuticals by 362.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,832 shares of the company’s stock valued at $78,000 after buying an additional 3,004 shares during the period. UBS Group AG raised its holdings in shares of Tarsus Pharmaceuticals by 37.0% during the 1st quarter. UBS Group AG now owns 4,226 shares of the company’s stock valued at $71,000 after buying an additional 1,142 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Tarsus Pharmaceuticals by 22.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,560 shares of the company’s stock valued at $92,000 after buying an additional 824 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Aziz Mottiwala sold 4,766 shares of Tarsus Pharmaceuticals stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $30.60, for a total value of $145,839.60. Following the transaction, the insider now directly owns 54,075 shares of the company’s stock, valued at approximately $1,654,695. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Bryan Wahl sold 4,436 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $30.60, for a total transaction of $135,741.60. Following the sale, the general counsel now directly owns 40,951 shares in the company, valued at approximately $1,253,100.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Aziz Mottiwala sold 4,766 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $30.60, for a total value of $145,839.60. Following the sale, the insider now owns 54,075 shares in the company, valued at $1,654,695. The disclosure for this sale can be found here. Insiders have sold 24,496 shares of company stock valued at $749,578 in the last three months. Corporate insiders own 11.54% of the company’s stock.

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.