Tarsus Pharmaceuticals (NASDAQ:TARS) Stock Price Down 6.1% – What’s Next?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s stock price dropped 6.1% on Wednesday . The company traded as low as $68.46 and last traded at $68.5450. Approximately 258,989 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 608,188 shares. The stock had previously closed at $73.02.

Wall Street Analysts Forecast Growth

TARS has been the topic of several recent research reports. Barclays started coverage on shares of Tarsus Pharmaceuticals in a report on Monday, December 8th. They issued an “overweight” rating and a $100.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Thursday, January 22nd. Oppenheimer lifted their price target on Tarsus Pharmaceuticals from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. The Goldman Sachs Group restated a “neutral” rating and issued a $68.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Thursday, February 5th. Finally, Mizuho assumed coverage on shares of Tarsus Pharmaceuticals in a research note on Thursday, November 20th. They set an “outperform” rating and a $100.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Tarsus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $91.83.

Tarsus Pharmaceuticals Price Performance

The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $70.46 and a 200 day moving average price of $69.82. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of -41.95 and a beta of 0.55.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings results on Monday, February 23rd. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The business had revenue of $151.67 million during the quarter, compared to analyst estimates of $144.56 million. Tarsus Pharmaceuticals had a negative return on equity of 19.63% and a negative net margin of 14.72%. As a group, equities research analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Dianne C. Whitfield sold 7,397 shares of Tarsus Pharmaceuticals stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $80.10, for a total value of $592,499.70. Following the sale, the insider 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 is available through this link. 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 transaction 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 position. Additional details regarding this sale are available in the official SEC disclosure. 8.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Comerica Bank increased its stake in Tarsus Pharmaceuticals by 470.0% during the 4th quarter. Comerica Bank now owns 855 shares of the company’s stock worth $70,000 after buying an additional 705 shares in the last quarter. Truvestments Capital LLC lifted its position in shares of Tarsus Pharmaceuticals by 106.1% in 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. Osaic Holdings Inc. lifted its position in shares of Tarsus Pharmaceuticals by 779.1% in the second quarter. Osaic Holdings Inc. now owns 2,778 shares of the company’s stock valued at $113,000 after acquiring an additional 2,462 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of Tarsus Pharmaceuticals in the fourth quarter worth approximately $164,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Tarsus Pharmaceuticals by 220.3% in the second quarter. Tower Research Capital LLC TRC now owns 4,045 shares of the company’s stock worth $164,000 after acquiring an additional 2,782 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

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.