abrdn plc Buys New Shares in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

abrdn plc purchased a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 72,032 shares of the company’s stock, valued at approximately $1,459,000.

Several other hedge funds have also recently made changes to their positions in TARS. RTW Investments LP boosted its position in shares of Tarsus Pharmaceuticals by 13.1% during the 3rd quarter. RTW Investments LP now owns 2,880,701 shares of the company’s stock valued at $51,190,000 after purchasing an additional 332,576 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Tarsus Pharmaceuticals by 25.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,551,802 shares of the company’s stock worth $27,576,000 after buying an additional 316,128 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of Tarsus Pharmaceuticals during the 3rd quarter worth approximately $13,399,000. Artisan Partners Limited Partnership bought a new stake in shares of Tarsus Pharmaceuticals in the 3rd quarter valued at $7,093,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Tarsus Pharmaceuticals by 2,784.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 245,972 shares of the company’s stock valued at $4,371,000 after acquiring an additional 237,445 shares during the period. 90.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on TARS shares. Oppenheimer reaffirmed an “outperform” rating and issued a $59.00 price target (up from $55.00) on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 28th. Jefferies Financial Group increased their target price on shares of Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. HC Wainwright upped their target price on Tarsus Pharmaceuticals from $50.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Barclays lifted their price objective 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. Finally, The Goldman Sachs Group raised their price target on shares of Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tarsus Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $48.38.

Insider Activity at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, insider Aziz Mottiwala sold 4,766 shares of the business’s 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 completion of the transaction, the insider now owns 54,075 shares of the company’s stock, valued at approximately $1,654,695. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, General Counsel Bryan Wahl sold 4,436 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $30.60, for a total transaction of $135,741.60. Following the transaction, the general counsel now directly owns 40,951 shares of the company’s stock, valued at approximately $1,253,100.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Aziz Mottiwala sold 4,766 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $30.60, for a total value of $145,839.60. Following the completion of the sale, the insider now owns 54,075 shares of the company’s stock, valued at approximately $1,654,695. The disclosure for this sale can be found here. Insiders have sold 24,496 shares of company stock valued at $749,578 over the last three months. 11.54% of the stock is owned by corporate insiders.

Tarsus Pharmaceuticals Stock Up 0.2 %

TARS opened at $32.12 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.93 and a quick ratio of 6.85. Tarsus Pharmaceuticals, Inc. has a one year low of $12.57 and a one year high of $40.40. The firm has a market capitalization of $1.10 billion, a P/E ratio of -6.92 and a beta of 1.05. The company has a fifty day moving average price of $34.05 and a 200-day moving average price of $25.09.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its earnings results on Tuesday, February 27th. The company reported ($1.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.06. The business had revenue of $13.08 million during the quarter, compared to the consensus estimate of $4.63 million. During the same quarter in the prior year, the company earned ($0.49) earnings per share. Equities research analysts expect that Tarsus Pharmaceuticals, Inc. will post -4.25 earnings per share for the current fiscal year.

Tarsus Pharmaceuticals Company Profile

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.