Insider Selling: Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Sells $427,638.74 in Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak R. Azamian sold 8,534 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $427,638.74. Following the completion of the transaction, the chief executive officer now directly owns 53,635 shares in the company, valued at $2,687,649.85. This trade represents a 13.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Tarsus Pharmaceuticals Stock Up 0.1 %

Shares of NASDAQ:TARS opened at $49.97 on Friday. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -13.12 and a beta of 1.05. The firm’s 50-day simple moving average is $48.48 and its 200-day simple moving average is $45.35. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $20.08 and a fifty-two week high of $57.28.

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. The business had revenue of $66.41 million for the quarter, compared to the consensus estimate of $58.80 million. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. As a group, equities research analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TARS has been the topic of several research reports. Guggenheim reissued a “buy” rating and set a $78.00 price objective (up from $75.00) on shares of Tarsus Pharmaceuticals in a research report on Monday, February 24th. Oppenheimer raised their price objective on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group raised their price objective on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. HC Wainwright reissued a “buy” rating and set a $73.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. Finally, Barclays lowered their price objective on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tarsus Pharmaceuticals has a consensus rating of “Buy” and an average target price of $63.67.

Institutional Trading of Tarsus Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in shares of Tarsus Pharmaceuticals by 2,088.8% in the third quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company’s stock valued at $14,477,000 after purchasing an additional 420,057 shares during the period. Vestal Point Capital LP acquired a new position in Tarsus Pharmaceuticals during the third quarter worth about $7,565,000. Jennison Associates LLC raised its position in Tarsus Pharmaceuticals by 14.8% during the fourth quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock worth $138,432,000 after acquiring an additional 321,552 shares during the last quarter. Verition Fund Management LLC acquired a new position in Tarsus Pharmaceuticals during the third quarter worth about $763,000. Finally, Mutual of America Capital Management LLC acquired a new position in Tarsus Pharmaceuticals during the third quarter worth about $4,291,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.