Tarsus Pharmaceuticals, Inc. $TARS Shares Purchased by Paradigm Biocapital Advisors LP

Key Points

• Paradigm Biocapital Advisors LP increased its holdings in Tarsus Pharmaceuticals by 3.1%, now owning about 2.61 million shares, which constitutes 6.3% of its portfolio.
• As of its latest quarterly report, Tarsus Pharmaceuticals reported a negative earnings per share (EPS) of -$0.48, missing analysts' expectations while generating revenue of $102.66 million.
• Several analysts have set new price targets for Tarsus Pharmaceuticals, including Goldman Sachs, which raised its target from $46 to $51, and HC Wainwright, which set a target of $72 with a "buy" rating.

Paradigm Biocapital Advisors LP grew its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 3.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,610,197 shares of the company's stock after purchasing an additional 78,301 shares during the quarter. Tarsus Pharmaceuticals accounts for 6.3% of Paradigm Biocapital Advisors LP's investment portfolio, making the stock its 5th biggest position. Paradigm Biocapital Advisors LP owned 6.21% of Tarsus Pharmaceuticals worth $134,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. GF Fund Management CO. LTD. bought a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter valued at approximately $44,000. Amalgamated Bank raised its stake in Tarsus Pharmaceuticals by 30.1% during the first quarter. Amalgamated Bank now owns 1,274 shares of the company's stock worth $65,000 after acquiring an additional 295 shares during the period. AlphaQuest LLC acquired a new stake in Tarsus Pharmaceuticals during the first quarter worth about $189,000. Bayesian Capital Management LP acquired a new stake in Tarsus Pharmaceuticals during the fourth quarter worth about $228,000. Finally, Corton Capital Inc. acquired a new stake in Tarsus Pharmaceuticals during the fourth quarter worth about $261,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TARS has been the subject of several recent analyst reports. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Oppenheimer assumed coverage on Tarsus Pharmaceuticals in a report on Monday, June 2nd. They set an "outperform" rating and a $75.00 target price on the stock. Finally, HC Wainwright raised Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 target price on the stock in a report on Tuesday, May 27th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $66.67.

Insider Buying and Selling

In related news, CEO Bobak R. Azamian sold 6,000 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the transaction, the chief executive officer directly owned 818,106 shares of the company's stock, valued at $40,905,300. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.97% of the stock is currently owned by company insiders.

Tarsus Pharmaceuticals Stock Down 0.5%

Tarsus Pharmaceuticals stock traded down $0.31 during trading hours on Thursday, hitting $57.41. The company had a trading volume of 418,096 shares, compared to its average volume of 656,007. The firm has a market capitalization of $2.42 billion, a P/E ratio of -24.64 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 5.26 and a quick ratio of 5.21. The firm's fifty day moving average is $46.62 and its 200-day moving average is $46.17. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $27.17 and a fifty-two week high of $59.76.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.15). The business had revenue of $102.66 million during the quarter, compared to the consensus estimate of $95.81 million. Tarsus Pharmaceuticals had a negative return on equity of 32.36% and a negative net margin of 31.13%. On average, research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Tarsus Pharmaceuticals Company 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.