Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 0.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,492,640 shares of the company's stock after selling 7,492 shares during the quarter. Jennison Associates LLC owned approximately 6.50% of Tarsus Pharmaceuticals worth $128,047,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Tarsus Pharmaceuticals by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 293,700 shares of the company's stock worth $16,262,000 after purchasing an additional 3,691 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Tarsus Pharmaceuticals during the 4th quarter worth about $223,000. Raymond James Financial Inc. bought a new position in shares of Tarsus Pharmaceuticals during the 4th quarter worth about $1,107,000. HighTower Advisors LLC acquired a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter worth about $207,000. Finally, Swiss National Bank raised its holdings in shares of Tarsus Pharmaceuticals by 1.2% in the 4th quarter. Swiss National Bank now owns 52,333 shares of the company's stock worth $2,898,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. HC Wainwright upgraded shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price objective for the company in a research note on Tuesday, May 27th. The Goldman Sachs Group increased 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. Oppenheimer initiated coverage on shares of Tarsus Pharmaceuticals in a research note on Monday, June 2nd. They issued an "outperform" rating and a $75.00 price objective for the company. Finally, Guggenheim increased their price objective on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $66.67.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS traded up $1.85 during trading hours on Friday, hitting $43.25. The stock had a trading volume of 1,255,389 shares, compared to its average volume of 688,218. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -15.84 and a beta of 0.80. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.54 and a current ratio of 5.57. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $20.08 and a fifty-two week high of $57.28. The firm has a 50-day moving average price of $41.85 and a 200 day moving average price of $46.56.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.05. Tarsus Pharmaceuticals had a negative return on equity of 39.72% and a negative net margin of 44.91%. The firm had revenue of $78.34 million during the quarter, compared to the consensus estimate of $72.50 million. As a group, research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Tarsus Pharmaceuticals Profile

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.