Mizuho Cuts Tarsus Pharmaceuticals (NASDAQ:TARS) Price Target to $98.00

Tarsus Pharmaceuticals (NASDAQ:TARS) had its price target decreased by stock analysts at Mizuho from $100.00 to $98.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price points to a potential upside of 66.80% from the company’s current price.

Other analysts have also issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Friday, July 17th. Guggenheim cut their price target on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Oppenheimer initiated coverage on shares of Tarsus Pharmaceuticals in a research report on Friday, April 24th. They issued an “outperform” rating and a $98.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research note on Thursday, July 9th. Finally, Wall Street Zen cut shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Tarsus Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $90.17.

Tarsus Pharmaceuticals Trading Down 1.3%

Shares of Tarsus Pharmaceuticals stock traded down $0.79 on Friday, reaching $58.75. 204,941 shares of the company were exchanged, compared to its average volume of 739,338. The stock has a fifty day moving average price of $61.23 and a 200-day moving average price of $65.38. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -51.58 and a beta of 0.50. The company has a current ratio of 3.74, a quick ratio of 3.71 and a debt-to-equity ratio of 0.21. Tarsus Pharmaceuticals has a fifty-two week low of $38.51 and a fifty-two week high of $85.25.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.24. The business had revenue of $162.05 million during the quarter, compared to the consensus estimate of $149.60 million. Tarsus Pharmaceuticals had a negative return on equity of 14.19% and a negative net margin of 9.02%. On average, analysts expect that Tarsus Pharmaceuticals will post -1.04 EPS for the current year.

Insider Activity at Tarsus Pharmaceuticals

In related news, insider Jeffrey S. Farrow sold 14,396 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total transaction of $877,436.20. Following the completion of the sale, the insider directly owned 56,801 shares in the company, valued at approximately $3,462,020.95. This trade represents a 20.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Bobak R. Azamian sold 10,000 shares of Tarsus Pharmaceuticals stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total value of $615,500.00. Following the sale, the chief executive officer directly owned 847,991 shares of the company’s stock, valued at approximately $52,193,846.05. The trade was a 1.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 39,850 shares of company stock worth $2,452,821 in the last quarter. 9.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TARS. Parallel Advisors LLC lifted its holdings in shares of Tarsus Pharmaceuticals by 139.2% during the 1st quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 291 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Tarsus Pharmaceuticals by 367.1% in the first quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock worth $50,000 after buying an additional 558 shares during the last quarter. Comerica Bank increased its holdings in Tarsus Pharmaceuticals by 470.0% in the fourth quarter. Comerica Bank now owns 855 shares of the company’s stock worth $70,000 after buying an additional 705 shares during the last quarter. Truvestments Capital LLC raised its position in Tarsus Pharmaceuticals by 106.1% during the fourth quarter. Truvestments Capital LLC now owns 909 shares of the company’s stock valued at $74,000 after acquiring an additional 468 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in Tarsus Pharmaceuticals by 15.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock valued at $105,000 after acquiring an additional 172 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

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.