TimesSquare Capital Management LLC Takes $23.25 Million Position in Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• TimesSquare Capital Management initiated a $23.25 million position in Tarsus Pharmaceuticals, buying 369,377 shares for a 0.86% stake. Institutional investors collectively own approximately 90.01% of the company.
• Analyst sentiment remains favorable overall, with Tarsus carrying a “Moderate Buy” consensus rating and an average price target of $90.50, despite ratings ranging from “Strong Buy” to “Sell.”
• Tarsus reported quarterly revenue of $173.91 million, ahead of estimates, but its loss of $0.43 per share was wider than the expected $0.19 loss. Shares opened at $70.61, below the 52-week high of $85.25.

TimesSquare Capital Management LLC purchased a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 369,377 shares of the company's stock, valued at approximately $23,249,000. TimesSquare Capital Management LLC owned 0.86% of Tarsus Pharmaceuticals as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in Tarsus Pharmaceuticals by 139.2% during the first quarter. Parallel Advisors LLC now owns 500 shares of the company's stock valued at $35,000 after purchasing an additional 291 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Tarsus Pharmaceuticals by 367.1% during the first quarter. PNC Financial Services Group Inc. now owns 710 shares of the company's stock worth $50,000 after purchasing an additional 558 shares in the last quarter. Comerica Bank increased its stake in shares of Tarsus Pharmaceuticals by 470.0% during the fourth quarter. Comerica Bank now owns 855 shares of the company's stock worth $70,000 after purchasing an additional 705 shares in the last quarter. Truvestments Capital LLC raised its position in shares of Tarsus Pharmaceuticals by 106.1% during the 4th quarter. Truvestments Capital LLC now owns 909 shares of the company's stock worth $74,000 after purchasing an additional 468 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of Tarsus Pharmaceuticals by 15.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company's stock worth $105,000 after purchasing an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Wall Street Analysts Forecast Growth

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

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ TARS opened at $70.61 on Tuesday. The firm has a 50-day simple moving average of $62.63 and a 200-day simple moving average of $64.88. The company has a quick ratio of 3.17, a current ratio of 3.20 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of -64.78 and a beta of 0.53. Tarsus Pharmaceuticals, Inc. has a 52 week low of $48.20 and a 52 week high of $85.25.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.24). Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%.The business had revenue of $173.91 million for the quarter, compared to analyst estimates of $169.65 million. On average, equities analysts predict that Tarsus Pharmaceuticals, Inc. will post -2.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Tarsus Pharmaceuticals

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 shares were sold at an average price of $62.12, for a total value of $776,500.00. Following the transaction, the director directly owned 106,786 shares of the company's stock, valued at $6,633,546.32. This trade represents a 10.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 owned 847,991 shares in the company, valued at approximately $52,193,846.05. This represents a 1.17% decrease in their ownership of the stock. 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. Over the last 90 days, 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 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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