Vanguard Group Inc. Buys 111,433 Shares of Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Vanguard Group Inc. increased its stake in Tarsus Pharmaceuticals by 5.3%, owning 2,226,595 shares valued at $114.38 million as of its latest SEC filing.
• Several institutional investors have also significantly increased their positions in Tarsus, with Price T Rowe Associates lifting its stake by 92.5% during the fourth quarter.
• Wall Street analysts are optimistic, with target price upgrades from firms like Goldman Sachs and Oppenheimer, indicating a consensus rating of "Buy" for Tarsus Pharmaceuticals.

Vanguard Group Inc. lifted its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,226,595 shares of the company's stock after buying an additional 111,433 shares during the period. Vanguard Group Inc. owned about 5.30% of Tarsus Pharmaceuticals worth $114,380,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GF Fund Management CO. LTD. bought a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter worth about $44,000. Amalgamated Bank increased its holdings in shares of Tarsus Pharmaceuticals by 30.1% in the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company's stock worth $65,000 after buying an additional 295 shares during the last quarter. Quarry LP bought a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter worth about $166,000. Bayesian Capital Management LP bought a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter worth about $228,000. Finally, Corton Capital Inc. bought a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter worth about $261,000. 90.01% of the stock is currently owned by institutional investors.

Tarsus Pharmaceuticals Trading Down 1.8%

NASDAQ:TARS traded down $1.03 during mid-day trading on Wednesday, hitting $57.82. 354,302 shares of the stock traded hands, compared to its average volume of 724,928. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -24.82 and a beta of 0.79. Tarsus Pharmaceuticals, Inc. has a 52 week low of $25.82 and a 52 week high of $58.95. The firm's 50 day moving average is $44.87 and its two-hundred day moving average is $45.94. The company has a quick ratio of 5.21, a current ratio of 5.26 and a debt-to-equity ratio of 0.22.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.48) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.15). The company 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, equities research analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TARS shares. HC Wainwright upgraded shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 target price on the stock in a report on Tuesday, May 27th. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Oppenheimer began coverage on shares of Tarsus Pharmaceuticals in a report on Monday, June 2nd. They set an "outperform" rating and a $75.00 price target on the stock. Guggenheim upped their price target on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, The Goldman Sachs Group upped their price target on shares of Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a "neutral" rating in a report on Monday, May 5th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $66.67.

Insider Buying and Selling

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 6,000 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the transaction, the chief executive officer directly owned 818,106 shares in the company, valued at $40,905,300. This represents a 0.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.97% of the stock is owned by corporate insiders.

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.