Baird Financial Group Inc. Decreases Stock Position in Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Baird Financial Group Inc. has reduced its stake in Tarsus Pharmaceuticals by 22.2%, now holding 110,792 shares worth approximately $5.69 million.
• Research analysts have given Tarsus Pharmaceuticals a consensus rating of "Moderate Buy" with a target price of $66.67, although Wall Street Zen downgraded the stock from "buy" to "hold."
• The company's latest earnings report revealed a loss with an earnings per share of ($0.48), missing the consensus estimate of ($0.33) by ($0.15), despite revenue exceeding expectations at $102.66 million.

Baird Financial Group Inc. cut its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 22.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 110,792 shares of the company's stock after selling 31,627 shares during the quarter. Baird Financial Group Inc. owned about 0.26% of Tarsus Pharmaceuticals worth $5,691,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank bought a new position in Tarsus Pharmaceuticals in the 4th quarter worth about $105,714,000. Driehaus Capital Management LLC purchased a new stake in shares of Tarsus Pharmaceuticals in the first quarter worth about $36,876,000. Millennium Management LLC boosted its position in shares of Tarsus Pharmaceuticals by 189.4% in the fourth quarter. Millennium Management LLC now owns 644,010 shares of the company's stock valued at $35,659,000 after acquiring an additional 421,495 shares during the period. Nuveen LLC purchased a new position in Tarsus Pharmaceuticals during the first quarter valued at approximately $13,589,000. Finally, D. E. Shaw & Co. Inc. increased its holdings in Tarsus Pharmaceuticals by 100.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 365,544 shares of the company's stock worth $20,240,000 after acquiring an additional 183,449 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ TARS traded down $2.16 during mid-day trading on Wednesday, reaching $54.33. 542,695 shares of the company were exchanged, compared to its average volume of 611,222. Tarsus Pharmaceuticals, Inc. has a 52 week low of $30.23 and a 52 week high of $59.76. The company's 50 day moving average price is $48.24 and its 200 day moving average price is $46.42. The stock has a market capitalization of $2.29 billion, a PE ratio of -23.32 and a beta of 0.81. The company has a quick ratio of 5.21, a current ratio of 5.26 and a debt-to-equity ratio of 0.22.

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

Insider Transactions at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, Director William J. Phd Link sold 27,116 shares of Tarsus Pharmaceuticals 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 transaction, the director directly owned 143,332 shares of the company's stock, valued at approximately $8,169,924. This trade represents a 15.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Bobak R. Azamian sold 6,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief executive officer owned 818,106 shares of the company's stock, valued at approximately $40,905,300. The trade was a 0.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.97% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Zacks Research raised shares of Tarsus Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Friday, September 5th. HC Wainwright upgraded Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price objective on the stock in a research report on Tuesday, May 27th. Oppenheimer began coverage on Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They set an "outperform" rating and a $75.00 target price for the company. Finally, Wall Street Zen lowered Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Tarsus Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.67.

Tarsus Pharmaceuticals 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.