Envestnet Asset Management Inc. Buys 1,418 Shares of Tarsus Pharmaceuticals, Inc. $TARS

Envestnet Asset Management Inc. increased its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 15.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,356 shares of the company’s stock after buying an additional 1,418 shares during the period. Envestnet Asset Management Inc.’s holdings in Tarsus Pharmaceuticals were worth $420,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TARS. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Tarsus Pharmaceuticals by 26.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,623 shares of the company’s stock valued at $66,000 after purchasing an additional 339 shares during the period. Quarry LP lifted its stake in Tarsus Pharmaceuticals by 20.0% in the first quarter. Quarry LP now owns 3,599 shares of the company’s stock valued at $185,000 after buying an additional 599 shares during the period. AlphaQuest LLC bought a new position in shares of Tarsus Pharmaceuticals during the 1st quarter worth approximately $189,000. Allianz Asset Management GmbH bought a new position in shares of Tarsus Pharmaceuticals during the 2nd quarter worth approximately $227,000. Finally, FORA Capital LLC acquired a new stake in shares of Tarsus Pharmaceuticals during the 1st quarter worth approximately $271,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Bobak R. Azamian sold 6,000 shares of the company’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 transaction of $332,220.00. Following the sale, the chief executive officer directly owned 812,106 shares in the company, valued at approximately $44,966,309.22. This represents a 0.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William J. Phd Link sold 27,116 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $57.00, for a total transaction of $1,545,612.00. Following the completion of the sale, the director owned 143,332 shares in the company, valued at $8,169,924. This represents a 15.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.97% of the stock is owned by corporate insiders.

Tarsus Pharmaceuticals Trading Up 2.1%

NASDAQ:TARS opened at $80.50 on Thursday. Tarsus Pharmaceuticals, Inc. has a 52 week low of $38.51 and a 52 week high of $83.47. The firm has a 50-day moving average price of $68.45 and a two-hundred day moving average price of $53.77. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.25 and a current ratio of 4.29. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of -39.85 and a beta of 0.82.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its earnings results on Tuesday, November 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.05. Tarsus Pharmaceuticals had a negative return on equity of 26.29% and a negative net margin of 22.17%.The firm had revenue of $118.70 million during the quarter, compared to analyst estimates of $114.22 million. On average, equities analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TARS has been the topic of several research reports. Guggenheim upped their price objective on shares of Tarsus Pharmaceuticals from $84.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Zacks Research upgraded Tarsus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, September 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $51.00 price target on shares of Tarsus Pharmaceuticals in a research note on Thursday, November 6th. Mizuho assumed coverage on Tarsus Pharmaceuticals in a report on Thursday, November 20th. They issued an “outperform” rating and a $100.00 price target on the stock. Finally, Wall Street Zen raised Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $74.14.

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.