Blair William & Co. IL Has $586,000 Stock Position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Key Points

• Blair William & Co. IL significantly reduced its holdings in Tarsus Pharmaceuticals by 58.1%, selling 15,814 shares, and now owns 11,416 shares valued at approximately $586,000.
• Tarsus Pharmaceuticals reported quarterly earnings with a loss of ($0.48) per share, missing estimates, but achieved a revenue of $102.66 million, exceeding expectations.
• Analysts have varied ratings on Tarsus Pharmaceuticals, with an average rating of "Moderate Buy" and a price target of $66.67 as several firms adjusted their recommendations and price targets recently.

Blair William & Co. IL cut its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 58.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,416 shares of the company's stock after selling 15,814 shares during the period. Blair William & Co. IL's holdings in Tarsus Pharmaceuticals were worth $586,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Paradigm Biocapital Advisors LP boosted its stake in Tarsus Pharmaceuticals by 3.7% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 2,531,896 shares of the company's stock worth $140,191,000 after purchasing an additional 91,451 shares during the period. Toronto Dominion Bank bought a new stake in Tarsus Pharmaceuticals during the 4th quarter worth about $105,714,000. Lord Abbett & CO. LLC lifted its position in Tarsus Pharmaceuticals by 115.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company's stock worth $70,873,000 after buying an additional 685,111 shares in the last quarter. Invesco Ltd. lifted its position in Tarsus Pharmaceuticals by 36.7% during the 4th quarter. Invesco Ltd. now owns 932,115 shares of the company's stock worth $51,611,000 after buying an additional 250,018 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Tarsus Pharmaceuticals by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 838,804 shares of the company's stock worth $46,456,000 after buying an additional 3,014 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 6,000 shares of the company's stock in a transaction dated 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 approximately $40,905,300. This represents a 0.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TARS shares. Oppenheimer started coverage on shares of Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They set an "outperform" rating and a $75.00 price target on the stock. Guggenheim boosted their price target on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. The Goldman Sachs Group boosted their price target on shares of Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. HC Wainwright raised shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price target on the stock in a research report on Tuesday, May 27th. Finally, Wall Street Zen cut shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tarsus Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $66.67.

Tarsus Pharmaceuticals Stock Performance

Shares of Tarsus Pharmaceuticals stock traded up $0.38 during trading on Friday, hitting $54.52. 88,597 shares of the stock were exchanged, compared to its average volume of 658,261. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -23.24 and a beta of 0.79. The company has a fifty day moving average price of $42.22 and a 200-day moving average price of $45.78. Tarsus Pharmaceuticals, Inc. has a 1-year low of $24.95 and a 1-year high of $57.28. The company has a current ratio of 5.26, a quick ratio of 5.21 and a debt-to-equity ratio of 0.22.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.15). The firm had revenue of $102.66 million for the quarter, compared to analyst estimates of $95.81 million. Tarsus Pharmaceuticals had a negative return on equity of 32.36% and a negative net margin of 31.13%. As a group, equities analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS 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.