Tarsus Pharmaceuticals, Inc. $TARS Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its stake in Tarsus Pharmaceuticals by 13.5% in Q1, bringing its holdings to 1,280,194 shares valued at about $89.8 million.
• Analysts remain largely bullish on TARS, with a consensus “Moderate Buy” rating and an average price target of $90.67.
• The company reported quarterly EPS of -$0.16, beating expectations, while revenue of $162.05 million also topped estimates; meanwhile, insiders sold shares recently, including notable sales by Director Katherine Goodrich and Jeffrey S. Farrow.

Assenagon Asset Management S.A. grew its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 13.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,280,194 shares of the company's stock after buying an additional 152,464 shares during the quarter. Assenagon Asset Management S.A. owned 3.01% of Tarsus Pharmaceuticals worth $89,806,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. RTW Investments LP boosted its holdings in Tarsus Pharmaceuticals by 5.0% in the 4th quarter. RTW Investments LP now owns 3,335,320 shares of the company's stock worth $273,096,000 after buying an additional 157,884 shares during the last quarter. Deep Track Capital LP increased its holdings in shares of Tarsus Pharmaceuticals by 71.4% during the 3rd quarter. Deep Track Capital LP now owns 3,000,000 shares of the company's stock worth $178,290,000 after buying an additional 1,250,000 shares during the last quarter. Vanguard Group Inc. increased its stake in Tarsus Pharmaceuticals by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company's stock worth $196,476,000 after acquiring an additional 127,470 shares during the last quarter. Morgan Stanley increased its position in shares of Tarsus Pharmaceuticals by 6.7% during the 4th quarter. Morgan Stanley now owns 2,040,742 shares of the company's stock worth $167,096,000 after purchasing an additional 128,340 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Tarsus Pharmaceuticals by 34.1% in the 4th quarter. Janus Henderson Group PLC now owns 1,930,325 shares of the company's stock valued at $158,062,000 after buying an additional 491,326 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TARS has been the topic of several recent analyst reports. Guggenheim upped their price objective on shares of Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. Oppenheimer started coverage on Tarsus Pharmaceuticals in a research report on Friday, April 24th. They set an "outperform" rating and a $98.00 price objective for the company. Zacks Research lowered Tarsus Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 25th. Lifesci Capital raised shares of Tarsus Pharmaceuticals to a "strong-buy" rating in a report on Monday, March 16th. Finally, HC Wainwright reiterated a "buy" rating and set a $88.00 target price on shares of Tarsus Pharmaceuticals in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Tarsus Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $90.67.

Insider Transactions at Tarsus Pharmaceuticals

In related news, Director Katherine Goodrich sold 2,954 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $62.08, for a total value of $183,384.32. Following the sale, the director directly owned 2,233 shares of the company's stock, valued at approximately $138,624.64. This represents a 56.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey S. Farrow sold 14,396 shares of the firm's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $60.95, for a total transaction of $877,436.20. Following the transaction, the insider owned 56,801 shares of the company's stock, valued at $3,462,020.95. This trade represents a 20.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 39,850 shares of company stock valued at $2,452,821. Company insiders own 9.64% of the company's stock.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ TARS opened at $67.11 on Thursday. The firm has a market capitalization of $2.89 billion, a P/E ratio of -58.87 and a beta of 0.49. Tarsus Pharmaceuticals, Inc. has a one year low of $38.51 and a one year high of $85.25. The company's fifty day moving average is $62.76 and its two-hundred day moving average is $68.98. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.71 and a current ratio of 3.74.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative net margin of 9.02% and a negative return on equity of 14.19%. The business had revenue of $162.05 million during the quarter, compared to the consensus estimate of $149.60 million. Analysts forecast that Tarsus Pharmaceuticals, Inc. will post -0.59 EPS for the current fiscal year.

Tarsus Pharmaceuticals 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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