5,600 Shares in Tarsus Pharmaceuticals, Inc. $TARS Purchased by Strs Ohio

Key Points

• Strs Ohio purchased 5,600 shares of Tarsus Pharmaceuticals, valued at approximately $288,000, signaling institutional confidence in the company.
• Several institutional investors significantly increased their stakes in Tarsus Pharmaceuticals during the 1st quarter, bringing institutional ownership to 90.01% of the company's stock.
• Wall Street analysts have varying opinions on the stock, with some upgrading it to a "buy" rating and setting a target price of $72.00 to $75.00, while maintaining a consensus rating of "Moderate Buy."

Strs Ohio acquired a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,600 shares of the company's stock, valued at approximately $288,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TARS. Driehaus Capital Management LLC purchased a new stake in Tarsus Pharmaceuticals in the 1st quarter valued at about $36,876,000. Adage Capital Partners GP L.L.C. purchased a new stake in Tarsus Pharmaceuticals in the 1st quarter valued at about $26,199,000. Nuveen LLC purchased a new stake in Tarsus Pharmaceuticals in the 1st quarter valued at about $13,589,000. Jane Street Group LLC increased its stake in Tarsus Pharmaceuticals by 105.8% in the 1st quarter. Jane Street Group LLC now owns 10,456 shares of the company's stock valued at $537,000 after buying an additional 190,000 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Tarsus Pharmaceuticals by 6,112.1% in the 1st quarter. Russell Investments Group Ltd. now owns 134,617 shares of the company's stock valued at $6,915,000 after buying an additional 132,450 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on TARS. HC Wainwright upgraded shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price objective for the company in a research note on Tuesday, May 27th. Zacks Research raised shares of Tarsus Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Friday, September 5th. Finally, Oppenheimer assumed coverage on shares of Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They set an "outperform" rating and a $75.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $66.67.

Insiders Place Their Bets

In related news, CEO Bobak R. Azamian sold 6,000 shares of Tarsus Pharmaceuticals stock in a transaction on Monday, August 11th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the transaction, the chief executive officer owned 818,106 shares in the company, valued at $40,905,300. This trade represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J. Phd Link sold 27,116 shares of Tarsus Pharmaceuticals stock in a transaction 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 transaction, the director owned 143,332 shares in the company, 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. 8.97% of the stock is owned by company insiders.

Tarsus Pharmaceuticals Stock Performance

Tarsus Pharmaceuticals stock opened at $55.63 on Wednesday. The stock has a market cap of $2.35 billion, a P/E ratio of -23.88 and a beta of 0.81. The firm's fifty day moving average price is $50.40 and its 200-day moving average price is $46.98. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $31.36 and a fifty-two week high of $59.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.21 and a current ratio of 5.26.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.48) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.15). The business had revenue of $102.66 million during 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%. On average, equities research analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

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.

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