Bobak R. Azamian Sells 7,131 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak R. Azamian sold 7,131 shares of Tarsus Pharmaceuticals stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $330,093.99. Following the completion of the transaction, the chief executive officer now owns 70,720 shares in the company, valued at $3,273,628.80. This trade represents a 9.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Tarsus Pharmaceuticals Stock Performance

NASDAQ:TARS opened at $49.97 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. The firm’s 50-day moving average is $48.48 and its 200-day moving average is $45.21. Tarsus Pharmaceuticals, Inc. has a 52-week low of $20.08 and a 52-week high of $57.28. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -13.12 and a beta of 1.05.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. The business had revenue of $66.41 million for the quarter, compared to analyst estimates of $58.80 million. Equities research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TARS. HC Wainwright reiterated a “buy” rating and issued a $73.00 target price on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 26th. Jefferies Financial Group lifted their target price on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Barclays dropped their target price on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Oppenheimer boosted their price objective on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Finally, Guggenheim restated a “buy” rating and set a $78.00 price objective (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tarsus Pharmaceuticals has an average rating of “Buy” and a consensus target price of $63.67.

Institutional Trading of Tarsus Pharmaceuticals

Several institutional investors have recently made changes to their positions in the business. Paradigm Biocapital Advisors LP boosted its position in shares of Tarsus Pharmaceuticals by 3.7% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 2,531,896 shares of the company’s stock valued at $140,191,000 after acquiring an additional 91,451 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Tarsus Pharmaceuticals by 14.8% during the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock valued at $138,432,000 after acquiring an additional 321,552 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Tarsus Pharmaceuticals by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 2,115,162 shares of the company’s stock valued at $117,117,000 after acquiring an additional 17,839 shares in the last quarter. Toronto Dominion Bank acquired a new position in Tarsus Pharmaceuticals in the fourth quarter valued at about $105,714,000. Finally, Lord Abbett & CO. LLC boosted its position in Tarsus Pharmaceuticals by 115.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company’s stock valued at $70,873,000 after buying an additional 685,111 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for eye care in the United States. The company's lead product candidate is XDEMVY, a novel therapeutic for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.