Ameriprise Financial Inc. Buys 8,336 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Ameriprise Financial Inc. lifted its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 21.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,685 shares of the company's stock after purchasing an additional 8,336 shares during the quarter. Ameriprise Financial Inc. owned about 0.12% of Tarsus Pharmaceuticals worth $2,640,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Crowley Wealth Management Inc. purchased a new position in Tarsus Pharmaceuticals during the fourth quarter valued at $25,000. R Squared Ltd bought a new position in shares of Tarsus Pharmaceuticals during the fourth quarter valued at $53,000. Quarry LP purchased a new position in shares of Tarsus Pharmaceuticals in the 4th quarter worth about $166,000. HighTower Advisors LLC purchased a new position in shares of Tarsus Pharmaceuticals in the 4th quarter worth about $207,000. Finally, Summit Investment Advisors Inc. boosted its stake in Tarsus Pharmaceuticals by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,848 shares of the company's stock worth $213,000 after purchasing an additional 244 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TARS. The Goldman Sachs Group raised their price objective on shares of Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Guggenheim boosted their price objective on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Jefferies Financial Group increased their target price on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Barclays reduced their target price on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Finally, Wall Street Zen downgraded Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Tarsus Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $66.17.

Tarsus Pharmaceuticals Stock Performance

NASDAQ:TARS traded down $0.50 during trading hours on Friday, reaching $42.94. The company had a trading volume of 428,338 shares, compared to its average volume of 703,683. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -11.27 and a beta of 0.94. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30. The firm's 50 day moving average price is $47.10 and its 200-day moving average price is $48.96. Tarsus Pharmaceuticals, Inc. has a 52 week low of $20.08 and a 52 week high of $57.28.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.69) by $0.05. The firm had revenue of $78.34 million for the quarter, compared to the consensus estimate of $72.50 million. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. On average, analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Insider Activity

In other news, General Counsel Bryan Wahl sold 3,341 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total transaction of $154,654.89. Following the completion of the sale, the general counsel now owns 58,057 shares of the company's stock, valued at $2,687,458.53. The trade was a 5.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dianne C. Whitfield sold 2,315 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total value of $107,161.35. Following the completion of the sale, the insider now owns 50,751 shares of the company's stock, valued at $2,349,263.79. This trade represents a 4.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,542 shares of company stock valued at $1,581,173 in the last quarter. 8.25% of the stock is currently owned by insiders.

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.