Tarsus Pharmaceuticals (NASDAQ:TARS) CEO Bobak Azamian Sells 10,000 Shares of Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak Azamian sold 10,000 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $90.56, for a total transaction of $905,600.00. Following the sale, the chief executive officer directly owned 827,991 shares in the company, valued at $74,982,864.96. This trade represents a 1.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tarsus Pharmaceuticals Trading Down 5.1%

NASDAQ TARS opened at $82.77 on Thursday. Tarsus Pharmaceuticals, Inc. has a one year low of $48.20 and a one year high of $91.53. The company has a 50-day simple moving average of $67.53 and a 200-day simple moving average of $66.45. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.17 and a current ratio of 3.20. The firm has a market capitalization of $3.63 billion, a PE ratio of -75.94 and a beta of 0.54.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.24). Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%.The business had revenue of $173.91 million for the quarter, compared to analyst estimates of $169.65 million. On average, equities analysts forecast that Tarsus Pharmaceuticals, Inc. will post -2.4 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on TARS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. HC Wainwright restated a “buy” rating and set a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Jefferies Financial Group upped their price objective on Tarsus Pharmaceuticals from $88.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday. Wall Street Zen lowered Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Guggenheim cut their target price on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.57.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several large investors have recently made changes to their positions in the company. TimesSquare Capital Management LLC boosted its position in Tarsus Pharmaceuticals by 24.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 332,446 shares of the company’s stock worth $27,221,000 after acquiring an additional 64,941 shares during the period. Bank of America Corp DE increased its holdings in shares of Tarsus Pharmaceuticals by 57.5% during the first quarter. Bank of America Corp DE now owns 1,194,377 shares of the company’s stock valued at $83,786,000 after purchasing an additional 436,271 shares during the period. Ishara Investments LP acquired a new position in shares of Tarsus Pharmaceuticals during the fourth quarter valued at $1,965,000. Emerald Investment Advisers LLC bought a new position in Tarsus Pharmaceuticals in the 2nd quarter valued at about $3,760,000. Finally, Legato Capital Management LLC increased its stake in Tarsus Pharmaceuticals by 122.1% during the 4th quarter. Legato Capital Management LLC now owns 17,755 shares of the company’s stock valued at $1,454,000 after buying an additional 9,760 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.