Wasatch Advisors LP Buys New Holdings in Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Wasatch Advisors LP initiated a position in Tarsus Pharmaceuticals during the second quarter, purchasing 368,568 shares valued at approximately $23.2 million, or about 0.86% of the company. Institutional investors collectively own 90.01% of Tarsus.
• Tarsus reported a quarterly loss of $0.43 per share, missing analyst expectations of a $0.19 loss, although revenue of $173.91 million exceeded estimates of $169.65 million. Analysts expect a full-year loss of approximately $1.70 per share.
• The stock recently traded at $70.01, while analysts maintain a “Moderate Buy” consensus with an average price target of $90.50; however, insiders sold 39,850 shares worth about $2.45 million in the latest quarter.

Wasatch Advisors LP purchased a new position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 368,568 shares of the company's stock, valued at approximately $23,198,000. Wasatch Advisors LP owned approximately 0.86% of Tarsus Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in 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 purchasing an additional 127,470 shares during the period. TimesSquare Capital Management LLC boosted its stake in shares of Tarsus Pharmaceuticals by 24.3% in the fourth 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. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Tarsus Pharmaceuticals by 19.9% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 109,857 shares of the company's stock valued at $8,995,000 after buying an additional 18,267 shares in the last quarter. D.A. Davidson & CO. acquired a new position in Tarsus Pharmaceuticals during the fourth quarter worth $1,493,000. Finally, Bank of America Corp DE grew its holdings in Tarsus Pharmaceuticals by 57.5% during the first quarter. Bank of America Corp DE now owns 1,194,377 shares of the company's stock worth $83,786,000 after acquiring an additional 436,271 shares during the period. Institutional investors and hedge funds own 90.01% of the company's stock.

Tarsus Pharmaceuticals Stock Up 0.8%

TARS opened at $70.01 on Thursday. The business's fifty day moving average is $62.04 and its two-hundred day moving average is $64.85. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.17 and a current ratio of 3.20. The company has a market cap of $3.07 billion, a price-to-earnings ratio of -64.23 and a beta of 0.53. Tarsus Pharmaceuticals, Inc. has a one year low of $48.20 and a one year high of $85.25.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The firm had revenue of $173.91 million during the quarter, compared to analyst estimates of $169.65 million. Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%. Analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -1.7 EPS 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 Tarsus Pharmaceuticals stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $62.12, for a total transaction of $776,500.00. Following the completion of the transaction, the director owned 106,786 shares in the company, valued at approximately $6,633,546.32. The trade was a 10.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 Tarsus Pharmaceuticals stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total transaction of $615,500.00. Following the transaction, the chief executive officer owned 847,991 shares of the company's stock, valued at approximately $52,193,846.05. The trade was a 1.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 39,850 shares of company stock valued at $2,452,821 in the last quarter. Insiders own 9.64% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TARS. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. Oppenheimer upped their price target on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday. Mizuho cut their price target on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an "outperform" rating for the company in a report on Friday, July 31st. HC Wainwright reiterated a "buy" rating and issued a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research note on Thursday, July 9th. Finally, Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Two investment 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 company's stock. Based on data from MarketBeat.com, Tarsus Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $90.50.

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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