BlackRock Inc. Buys Shares of 3,856,137 Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• BlackRock initiated a major position in Tarsus Pharmaceuticals, purchasing 3.86 million shares worth approximately $242.7 million, or about 8.96% of the company. Institutional investors collectively own 90.01% of TARS.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $90.50, despite some downgrades and reduced targets.
• Tarsus reported a quarterly loss of $0.43 per share, missing estimates by $0.24, while revenue of $173.91 million exceeded expectations. Insiders sold roughly $2.45 million of stock over the past 90 days, including sales by the CEO and an insider under a 10b5-1 plan.

BlackRock Inc. purchased a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,856,137 shares of the company's stock, valued at approximately $242,705,000. BlackRock Inc. owned approximately 8.96% of Tarsus Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TARS. Vanguard Group Inc. lifted its holdings in shares of Tarsus Pharmaceuticals by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company's stock valued at $196,476,000 after acquiring an additional 127,470 shares in the last quarter. TimesSquare Capital Management LLC increased its holdings in Tarsus Pharmaceuticals by 24.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 332,446 shares of the company's stock valued at $27,221,000 after purchasing an additional 64,941 shares in the last quarter. Bank of America Corp DE raised its position in Tarsus Pharmaceuticals by 57.5% in the first quarter. Bank of America Corp DE now owns 1,194,377 shares of the company's stock valued at $83,786,000 after purchasing an additional 436,271 shares during the period. D.A. Davidson & CO. purchased a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter valued at about $1,493,000. Finally, Ishara Investments LP acquired a new position in Tarsus Pharmaceuticals during the 4th quarter worth approximately $1,965,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Activity

In other news, insider Jeffrey S. Farrow sold 14,396 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $60.95, for a total value of $877,436.20. Following the transaction, the insider directly owned 56,801 shares of the company's stock, valued at $3,462,020.95. This trade represents a 20.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Bobak R. Azamian sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total transaction of $615,500.00. Following the completion of the sale, the chief executive officer owned 847,991 shares of the company's stock, valued at approximately $52,193,846.05. This trade represents a 1.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 39,850 shares of company stock valued at $2,452,821 over the last ninety days. Corporate insiders own 9.64% of the company's stock.

Analyst Upgrades and Downgrades

TARS has been the subject of several analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a research note on Friday, July 17th. Guggenheim decreased their price objective on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a "buy" rating for the company in a research report on Tuesday, July 21st. Wall Street Zen lowered Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Mizuho dropped their price objective on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an "outperform" rating on the stock in a report on Friday, July 31st. Finally, Oppenheimer upped their target price on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Tarsus Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $90.50.

Tarsus Pharmaceuticals Stock Performance

TARS stock opened at $70.65 on Thursday. The firm has a market cap of $3.10 billion, a P/E ratio of -64.82 and a beta of 0.53. The stock's 50 day simple moving average is $64.05 and its 200 day simple moving average is $65.24. Tarsus Pharmaceuticals, Inc. has a 12-month low of $48.20 and a 12-month high of $85.25. The company has a current ratio of 3.20, a quick ratio of 3.17 and a debt-to-equity ratio of 0.21.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The business had revenue of $173.91 million for the quarter, compared to analyst estimates of $169.65 million. Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%. As a group, equities research analysts predict that Tarsus Pharmaceuticals, Inc. will post -2.06 EPS for the current year.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company's research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus's lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.

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