The Manufacturers Life Insurance Company Takes Position in Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• The Manufacturers Life Insurance Company acquired 38,198 Tarsus Pharmaceuticals shares worth approximately $2.4 million, giving it a 0.09% stake. Institutional investors and hedge funds collectively own 90.01% of TARS.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and an average price target of $90.50; individual targets range from $88 to $100.
• TARS opened at $82.76, near its 12-month high of $85.25. However, the company reported a quarterly EPS loss of $0.43, missing estimates by $0.24, despite revenue of $173.91 million exceeding expectations.

The Manufacturers Life Insurance Company purchased a new position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 38,198 shares of the company's stock, valued at approximately $2,404,000. The Manufacturers Life Insurance Company owned about 0.09% of Tarsus Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Tarsus Pharmaceuticals by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company's stock worth $196,476,000 after buying an additional 127,470 shares during the period. TimesSquare Capital Management LLC increased its position in shares of Tarsus Pharmaceuticals by 24.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 332,446 shares of the company's stock valued at $27,221,000 after buying an additional 64,941 shares in the last quarter. Bank of America Corp DE increased its position in shares of Tarsus Pharmaceuticals by 57.5% in the 1st quarter. Bank of America Corp DE now owns 1,194,377 shares of the company's stock valued at $83,786,000 after buying an additional 436,271 shares in the last quarter. Ishara Investments LP acquired a new stake in Tarsus Pharmaceuticals during the 4th quarter worth $1,965,000. Finally, Legato Capital Management LLC lifted its holdings in Tarsus Pharmaceuticals by 122.1% during the fourth quarter. Legato Capital Management LLC now owns 17,755 shares of the company's stock worth $1,454,000 after acquiring an additional 9,760 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Tarsus Pharmaceuticals Price Performance

Shares of TARS opened at $82.76 on Thursday. The stock has a market capitalization of $3.63 billion, a P/E ratio of -75.93 and a beta of 0.54. Tarsus Pharmaceuticals, Inc. has a twelve month low of $48.20 and a twelve month high of $85.25. The company has a 50 day moving average of $65.08 and a 200-day moving average of $65.59. The company has a quick ratio of 3.17, a current ratio of 3.20 and a debt-to-equity ratio of 0.21.

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

Insider Buying and Selling

In other Tarsus Pharmaceuticals news, Director William J. Phd Link sold 12,500 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $62.12, for a total value of $776,500.00. Following the completion of the transaction, the director directly owned 106,786 shares in the company, valued at $6,633,546.32. This trade represents a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak R. Azamian sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total value of $615,500.00. Following the transaction, the chief executive officer directly owned 847,991 shares in the company, valued at $52,193,846.05. This trade represents a 1.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 39,850 shares of company stock worth $2,452,821 over the last 90 days. 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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