Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Down 5.2%

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) dropped 5.2% during trading on Friday . The company traded as low as $36.07 and last traded at $36.28. Approximately 49,046 shares traded hands during trading, a decline of 94% from the average daily volume of 762,329 shares. The stock had previously closed at $38.29.

Wall Street Analyst Weigh In

TARS has been the topic of a number of research analyst reports. HC Wainwright increased their price objective on shares of Tarsus Pharmaceuticals from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Oppenheimer restated an “outperform” rating and issued a $59.00 price target (up from $55.00) on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 28th. Barclays raised their price target on shares of Tarsus Pharmaceuticals from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Lifesci Capital restated an “outperform” rating on shares of Tarsus Pharmaceuticals in a research report on Tuesday, December 26th. Finally, Jefferies Financial Group lifted their price objective on shares of Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.38.

Tarsus Pharmaceuticals Stock Performance

The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -7.80 and a beta of 1.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.85 and a current ratio of 6.93. The company’s 50 day simple moving average is $33.44 and its 200 day simple moving average is $23.78.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its earnings results on Tuesday, February 27th. The company reported ($1.31) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.06. The company had revenue of $13.08 million for the quarter, compared to analyst estimates of $4.63 million. During the same period in the previous year, the business posted ($0.49) EPS. On average, equities research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -4.59 earnings per share for the current year.

Insider Transactions at Tarsus Pharmaceuticals

In other news, CEO Bobak R. Azamian sold 10,415 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $30.60, for a total value of $318,699.00. Following the transaction, the chief executive officer now owns 26,456 shares of the company’s stock, valued at approximately $809,553.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Aziz Mottiwala sold 4,766 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $30.60, for a total value of $145,839.60. Following the transaction, the insider now owns 54,075 shares of the company’s stock, valued at approximately $1,654,695. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bobak R. Azamian sold 10,415 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $30.60, for a total transaction of $318,699.00. Following the completion of the transaction, the chief executive officer now directly owns 26,456 shares in the company, valued at approximately $809,553.60. The disclosure for this sale can be found here. Insiders have sold 24,496 shares of company stock valued at $749,578 in the last quarter. Insiders own 11.54% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TARS. Dimensional Fund Advisors LP boosted its holdings in shares of Tarsus Pharmaceuticals by 221.0% in the first quarter. Dimensional Fund Advisors LP now owns 28,855 shares of the company’s stock worth $485,000 after buying an additional 19,865 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tarsus Pharmaceuticals by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 48,583 shares of the company’s stock worth $818,000 after buying an additional 1,402 shares during the period. UBS Group AG boosted its holdings in shares of Tarsus Pharmaceuticals by 37.0% in the first quarter. UBS Group AG now owns 4,226 shares of the company’s stock worth $71,000 after buying an additional 1,142 shares during the period. Invesco Ltd. boosted its holdings in shares of Tarsus Pharmaceuticals by 17.1% in the first quarter. Invesco Ltd. now owns 27,982 shares of the company’s stock worth $471,000 after buying an additional 4,078 shares during the period. Finally, State Street Corp boosted its holdings in shares of Tarsus Pharmaceuticals by 2.4% in the first quarter. State Street Corp now owns 132,883 shares of the company’s stock worth $2,235,000 after buying an additional 3,141 shares during the period. 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.