Tarsus Pharmaceuticals (NASDAQ:TARS) Posts Quarterly Earnings Results

Key Points

• Tarsus reported EPS of ($14.40), missing the analyst consensus of ($1.46) by $12.94. Quarterly revenue was $194.57 million, above estimates of $187.83 million.
• Shares fell $0.68 to $72.64 in Tuesday midday trading, below the 50-day moving average of $75.17.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $100.86.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($14.40) earnings per share for the quarter, missing the consensus estimate of ($1.46) by ($12.94), FiscalAI reports. The firm had revenue of $194.57 million during the quarter, compared to analyst estimates of $187.83 million. Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%.

Tarsus Pharmaceuticals Stock Performance

Shares of Tarsus Pharmaceuticals stock traded down $0.68 during midday trading on Tuesday, hitting $72.64. The company had a trading volume of 752,103 shares, compared to its average volume of 769,028. The business's 50 day simple moving average is $75.17 and its two-hundred day simple moving average is $67.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.20 and a quick ratio of 3.17. The stock has a market cap of $3.58 billion, a PE ratio of -66.64 and a beta of 0.44. Tarsus Pharmaceuticals has a 1-year low of $53.89 and a 1-year high of $91.53.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, Director William J. Phd Link sold 12,500 shares of the company's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $78.38, for a total value of $979,750.00. Following the completion of the sale, the director directly owned 94,487 shares of the company's stock, valued at $7,405,891.06. This represents a 11.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak R. Azamian sold 10,000 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $90.56, for a total transaction of $905,600.00. Following the transaction, the chief executive officer owned 827,991 shares of the company's stock, valued at approximately $74,982,864.96. This represents a 1.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 48,031 shares of company stock valued at $4,004,227. 9.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TARS shares. Jefferies Financial Group increased their price target on shares of Tarsus Pharmaceuticals from $88.00 to $105.00 and gave the company a "buy" rating in a research report on Tuesday, September 8th. Barclays assumed coverage on Tarsus Pharmaceuticals in a research report on Wednesday, September 16th. They issued an "overweight" rating and a $110.00 target price for the company. HC Wainwright restated a "buy" rating and issued a $88.00 price target on shares of Tarsus Pharmaceuticals in a research note on Thursday, July 9th. Guggenheim cut their price target on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a "buy" rating on the stock in a report on Tuesday, July 21st. Finally, Oppenheimer increased their price target on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Tarsus Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $100.86.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a commercial-stage ophthalmic pharmaceutical company focused on developing and marketing treatments for eye diseases with significant unmet medical needs. The company's portfolio is centered on therapies designed to address conditions affecting the ocular surface and eyelids.

Tarsus' lead product is XDEMVY (lotilaner ophthalmic solution) 0.25%, an eye drop approved by the U.S. Food and Drug Administration in 2023 for the treatment of Demodex blepharitis, an inflammatory eyelid condition associated with an infestation of Demodex mites.

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