Jefferies Financial Group Inc. Acquires New Position in Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Jefferies Financial Group acquired 118,810 shares of Tarsus Pharmaceuticals worth approximately $7.48 million, giving it a 0.27% stake. Institutional investors collectively own 90.01% of the company.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $90.50, despite some hold and sell ratings.
• Tarsus shares opened at $71.92 after rising 1.8%; the company exceeded revenue expectations but reported an adjusted loss of $0.43 per share, missing the consensus estimate by $0.24.

Jefferies Financial Group Inc. bought a new position 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 firm bought 118,810 shares of the company's stock, valued at approximately $7,478,000. Jefferies Financial Group Inc. owned about 0.27% of Tarsus Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC lifted its stake in shares of Tarsus Pharmaceuticals by 139.2% during the 1st quarter. Parallel Advisors LLC now owns 500 shares of the company's stock worth $35,000 after purchasing an additional 291 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Tarsus Pharmaceuticals by 367.1% in the first quarter. PNC Financial Services Group Inc. now owns 710 shares of the company's stock valued at $50,000 after purchasing an additional 558 shares during the period. Comerica Bank increased its stake in Tarsus Pharmaceuticals by 470.0% in the fourth quarter. Comerica Bank now owns 855 shares of the company's stock valued at $70,000 after purchasing an additional 705 shares during the last quarter. Truvestments Capital LLC lifted its position in Tarsus Pharmaceuticals by 106.1% during the fourth quarter. Truvestments Capital LLC now owns 909 shares of the company's stock worth $74,000 after buying an additional 468 shares during the period. Finally, State of Wyoming purchased a new position in Tarsus Pharmaceuticals during the second quarter worth about $103,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on TARS. HC Wainwright restated a "buy" rating and issued a $88.00 price target on shares of Tarsus Pharmaceuticals in a report on Thursday, July 9th. Oppenheimer increased their price target on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. Guggenheim decreased their price target on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a "buy" rating on the stock in a report on Tuesday, July 21st. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $90.50.

Tarsus Pharmaceuticals Stock Up 1.8%

Shares of NASDAQ:TARS opened at $71.92 on Friday. The stock has a 50-day simple moving average of $64.22 and a 200-day simple moving average of $65.29. The stock has a market capitalization of $3.16 billion, a P/E ratio of -65.98 and a beta of 0.53. Tarsus Pharmaceuticals, Inc. has a 1 year low of $48.20 and a 1 year high of $85.25. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.17 and a current ratio of 3.20.

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

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, CEO Bobak R. Azamian sold 10,000 shares of the firm's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total value of $615,500.00. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey S. Farrow sold 14,396 shares of the stock in a transaction 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 completion of the sale, the insider owned 56,801 shares of the company's stock, valued at approximately $3,462,020.95. This represents a 20.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 39,850 shares of company stock worth $2,452,821. 9.64% of the stock is currently owned by 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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