Brokerages Set Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) PT at $90.50

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) has been given an average rating of “Moderate Buy” by the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $90.50.

Several brokerages recently issued reports on TARS. HC Wainwright reiterated a “buy” rating and issued a $88.00 price target on shares of Tarsus Pharmaceuticals in a research note on Thursday, July 9th. Wall Street Zen lowered Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Guggenheim cut their target price on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Oppenheimer assumed coverage on Tarsus Pharmaceuticals in a research report on Friday, April 24th. They set an “outperform” rating and a $98.00 target price for the company.

Insider Activity

In related news, CEO Bobak R. Azamian sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total transaction of $615,500.00. Following the completion of the sale, the chief executive officer owned 847,991 shares of the company’s stock, valued at $52,193,846.05. This represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Phd Link sold 12,500 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $62.12, for a total transaction of $776,500.00. Following the completion of the transaction, the director directly owned 106,786 shares in the company, valued at approximately $6,633,546.32. This represents a 10.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 39,850 shares of company stock worth $2,452,821. 9.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in Tarsus Pharmaceuticals by 139.2% during the first quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 291 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Tarsus Pharmaceuticals by 367.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock valued at $50,000 after purchasing an additional 558 shares during the last quarter. Comerica Bank increased its stake in shares of Tarsus Pharmaceuticals by 470.0% in the 4th quarter. Comerica Bank now owns 855 shares of the company’s stock valued at $70,000 after purchasing an additional 705 shares during the last quarter. Truvestments Capital LLC increased its stake in shares of Tarsus Pharmaceuticals by 106.1% in the 4th quarter. Truvestments Capital LLC now owns 909 shares of the company’s stock valued at $74,000 after purchasing an additional 468 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Tarsus Pharmaceuticals by 15.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock worth $105,000 after buying an additional 172 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Tarsus Pharmaceuticals Price Performance

NASDAQ:TARS opened at $58.66 on Wednesday. Tarsus Pharmaceuticals has a 52 week low of $38.51 and a 52 week high of $85.25. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.71 and a current ratio of 3.74. The firm’s 50-day simple moving average is $61.54 and its 200 day simple moving average is $66.01. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -51.46 and a beta of 0.50.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative net margin of 9.02% and a negative return on equity of 14.19%. The firm had revenue of $162.05 million during the quarter, compared to the consensus estimate of $149.60 million. As a group, sell-side analysts predict that Tarsus Pharmaceuticals will post -1.04 earnings per share for the current year.

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.