Weiss Ratings Reaffirms “Sell (D-)” Rating for Tarsus Pharmaceuticals (NASDAQ:TARS)

Tarsus Pharmaceuticals (NASDAQ:TARS)‘s stock had its “sell (d-)” rating reaffirmed by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Zacks Research raised shares of Tarsus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, September 5th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.67.

Tarsus Pharmaceuticals Trading Up 1.9%

Shares of TARS opened at $69.75 on Wednesday. The company has a current ratio of 5.26, a quick ratio of 5.21 and a debt-to-equity ratio of 0.22. Tarsus Pharmaceuticals has a 12-month low of $33.95 and a 12-month high of $70.58. The firm has a 50-day moving average price of $54.66 and a 200 day moving average price of $48.00. The firm has a market capitalization of $2.94 billion, a P/E ratio of -29.94 and a beta of 0.81.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its earnings results on Wednesday, August 6th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.15). The company had revenue of $102.66 million for the quarter, compared to analysts’ expectations of $95.81 million. Tarsus Pharmaceuticals had a negative return on equity of 32.36% and a negative net margin of 31.13%. Sell-side analysts forecast that Tarsus Pharmaceuticals will post -3.17 EPS for the current year.

Insider Activity at Tarsus Pharmaceuticals

In other news, CEO Bobak R. Azamian sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $55.37, for a total value of $332,220.00. Following the completion of the transaction, the chief executive officer owned 812,106 shares of the company’s stock, valued at approximately $44,966,309.22. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William J. Phd Link sold 27,116 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $57.00, for a total transaction of $1,545,612.00. Following the completion of the transaction, the director directly owned 143,332 shares of the company’s stock, valued at approximately $8,169,924. The trade was a 15.91% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 39,116 shares of company stock valued at $2,177,832. Insiders own 8.97% of the company’s stock.

Institutional Trading of Tarsus Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in TARS. GAMMA Investing LLC raised its holdings in Tarsus Pharmaceuticals by 36,430.6% in the first quarter. GAMMA Investing LLC now owns 13,151 shares of the company’s stock valued at $676,000 after acquiring an additional 13,115 shares in the last quarter. Rhumbline Advisers raised its holdings in Tarsus Pharmaceuticals by 4.3% in the first quarter. Rhumbline Advisers now owns 51,682 shares of the company’s stock valued at $2,655,000 after acquiring an additional 2,148 shares in the last quarter. Valmark Advisers Inc. acquired a new stake in Tarsus Pharmaceuticals in the first quarter valued at approximately $283,000. Amalgamated Bank raised its holdings in Tarsus Pharmaceuticals by 30.1% in the first quarter. Amalgamated Bank now owns 1,274 shares of the company’s stock valued at $65,000 after acquiring an additional 295 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in Tarsus Pharmaceuticals by 6.1% in the first quarter. Arizona State Retirement System now owns 8,182 shares of the company’s stock valued at $420,000 after acquiring an additional 470 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.