Hsbc Holdings PLC Makes New $2.43 Million Investment in Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Hsbc Holdings PLC purchased 38,090 shares of Tarsus Pharmaceuticals valued at approximately $2.43 million, while institutional investors collectively owned 90.01% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $90.50, despite some target reductions.
• Tarsus reported a quarterly loss of $0.43 per share, missing estimates, although revenue of $173.91 million exceeded expectations. The stock recently traded at $71.76, below its one-year high of $85.25.

Hsbc Holdings PLC purchased a new stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 38,090 shares of the company's stock, valued at approximately $2,429,000. Hsbc Holdings PLC owned 0.09% of Tarsus Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in Tarsus Pharmaceuticals during the 2nd quarter worth approximately $242,705,000. Deep Track Capital LP lifted its holdings in shares of Tarsus Pharmaceuticals by 71.4% in the third quarter. Deep Track Capital LP now owns 3,000,000 shares of the company's stock valued at $178,290,000 after purchasing an additional 1,250,000 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Tarsus Pharmaceuticals by 34.1% in the fourth quarter. Janus Henderson Group PLC now owns 1,930,325 shares of the company's stock worth $158,062,000 after buying an additional 491,326 shares during the period. Bank of America Corp DE grew its holdings in shares of Tarsus Pharmaceuticals by 57.5% during 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 buying an additional 436,271 shares in the last quarter. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Tarsus Pharmaceuticals during the second quarter valued at $23,249,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TARS. Mizuho reduced their price objective on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an "outperform" rating for the company in a research note on Friday, July 31st. HC Wainwright reaffirmed a "buy" rating and set a $88.00 target price on shares of Tarsus Pharmaceuticals in a research note on Thursday, July 9th. Oppenheimer upped their target price on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. Weiss Ratings restated a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Finally, Guggenheim dropped their price objective on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a "buy" rating on the stock in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Tarsus Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $90.50.

Tarsus Pharmaceuticals Price Performance

TARS opened at $71.76 on Monday. The stock has a fifty day moving average price of $64.39 and a 200 day moving average price of $65.34. 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, Inc. has a 1 year low of $48.20 and a 1 year high of $85.25. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of -65.83 and a beta of 0.53.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The firm had revenue of $173.91 million during 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%. Analysts forecast that Tarsus Pharmaceuticals, Inc. will post -2.06 EPS for the current fiscal year.

Insider Transactions at Tarsus Pharmaceuticals

In related news, Director William J. Phd Link sold 12,500 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $62.12, for a total transaction of $776,500.00. Following the transaction, the director owned 106,786 shares of the company's stock, valued at approximately $6,633,546.32. This trade represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Katherine Goodrich sold 2,954 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $62.08, for a total transaction of $183,384.32. Following the completion of the sale, the director owned 2,233 shares of the company's stock, valued at $138,624.64. This trade represents a 56.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 39,850 shares of company stock worth $2,452,821. 9.64% of the stock is owned by corporate insiders.

Tarsus Pharmaceuticals Company Profile

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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