Tarsus Pharmaceuticals (NASDAQ:TARS) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Tarsus Pharmaceuticals (NASDAQ:TARS) announced its quarterly earnings results on Monday. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01), FiscalAI reports. The firm had revenue of $151.67 million for the quarter, compared to the consensus estimate of $144.56 million. Tarsus Pharmaceuticals had a negative net margin of 22.17% and a negative return on equity of 26.29%.

Tarsus Pharmaceuticals Trading Up 4.5%

Shares of NASDAQ TARS traded up $2.98 during midday trading on Monday, hitting $69.59. The stock had a trading volume of 1,279,659 shares, compared to its average volume of 583,685. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.29 and a quick ratio of 4.25. Tarsus Pharmaceuticals has a fifty-two week low of $38.51 and a fifty-two week high of $85.25. The firm has a market cap of $2.95 billion, a P/E ratio of -34.45, a price-to-earnings-growth ratio of 0.96 and a beta of 0.57. The company’s 50-day simple moving average is $72.54 and its 200 day simple moving average is $68.01.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Mizuho initiated coverage on Tarsus Pharmaceuticals in a research report on Thursday, November 20th. They issued an “outperform” rating and a $100.00 price objective for the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $68.00 price objective on shares of Tarsus Pharmaceuticals in a research note on Thursday, February 5th. Zacks Research upgraded Tarsus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Tarsus Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $82.29.

Insider Activity

In related news, insider Dianne C. Whitfield sold 7,397 shares of Tarsus Pharmaceuticals stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $80.10, for a total value of $592,499.70. Following the completion of the sale, the insider directly owned 38,958 shares in the company, valued at $3,120,535.80. This trade represents a 15.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bobak R. Azamian sold 6,000 shares of the business’s stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $82.51, for a total value of $495,060.00. Following the sale, the chief executive officer directly owned 857,991 shares of the company’s stock, valued at $70,792,837.41. This represents a 0.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Tarsus Pharmaceuticals by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock valued at $1,137,000 after acquiring an additional 1,217 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Tarsus Pharmaceuticals by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,220 shares of the company’s stock worth $3,659,000 after purchasing an additional 1,394 shares during the period. Jane Street Group LLC grew its stake in shares of Tarsus Pharmaceuticals by 105.8% during the first quarter. Jane Street Group LLC now owns 10,456 shares of the company’s stock worth $537,000 after purchasing an additional 190,000 shares during the period. JPMorgan Chase & Co. increased its holdings in Tarsus Pharmaceuticals by 402.7% in the second quarter. JPMorgan Chase & Co. now owns 140,610 shares of the company’s stock valued at $5,696,000 after purchasing an additional 112,637 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Tarsus Pharmaceuticals by 12.3% in the second quarter. Invesco Ltd. now owns 928,501 shares of the company’s stock valued at $37,614,000 after purchasing an additional 101,978 shares during the last quarter. 90.01% of the stock is currently 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.