Bobak R. Azamian Sells 6,000 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Stock

Key Points

• Tarsus Pharmaceuticals CEO Bobak R. Azamian sold 6,000 shares at an average price of $50.00, totaling $300,000, reducing his ownership by 0.73% to 818,106 shares.
• The company reported a loss of $0.48 EPS for the last quarter, missing analyst estimates, despite revenue exceeding expectations at $102.66 million.
• Tarsus Pharmaceuticals' stock is currently rated as a "Moderate Buy" by analysts, with a consensus target price of $66.67.

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) CEO Bobak R. Azamian sold 6,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the sale, the chief executive officer owned 818,106 shares of the company's stock, valued at $40,905,300. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tarsus Pharmaceuticals Stock Performance

TARS stock traded up $0.29 on Monday, hitting $54.50. The company's stock had a trading volume of 123,890 shares, compared to its average volume of 660,008. The firm has a 50 day moving average of $42.43 and a two-hundred day moving average of $45.71. Tarsus Pharmaceuticals, Inc. has a 1 year low of $25.14 and a 1 year high of $57.28. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -23.40 and a beta of 0.79. The company has a current ratio of 5.26, a quick ratio of 5.21 and a debt-to-equity ratio of 0.22.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.15). Tarsus Pharmaceuticals had a negative net margin of 31.13% and a negative return on equity of 32.36%. The company had revenue of $102.66 million during the quarter, compared to analysts' expectations of $95.81 million. Equities analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TARS shares. HC Wainwright upgraded Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price target for the company in a research report on Tuesday, May 27th. Guggenheim boosted their price target on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Oppenheimer began coverage on Tarsus Pharmaceuticals in a research note on Monday, June 2nd. They set an "outperform" rating and a $75.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Finally, Wall Street Zen lowered Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $66.67.

Institutional Trading of Tarsus Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the company. Amalgamated Bank increased its stake in Tarsus Pharmaceuticals by 30.1% in the first quarter. Amalgamated Bank now owns 1,274 shares of the company's stock valued at $65,000 after purchasing an additional 295 shares during the last quarter. Northern Trust Corp increased its stake in Tarsus Pharmaceuticals by 12.6% in the fourth quarter. Northern Trust Corp now owns 357,616 shares of the company's stock valued at $19,801,000 after purchasing an additional 40,061 shares during the last quarter. GAMMA Investing LLC increased its stake in Tarsus Pharmaceuticals by 36,430.6% in the first quarter. GAMMA Investing LLC now owns 13,151 shares of the company's stock valued at $676,000 after purchasing an additional 13,115 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Tarsus Pharmaceuticals by 21.2% in the fourth quarter. Ameriprise Financial Inc. now owns 47,685 shares of the company's stock valued at $2,640,000 after purchasing an additional 8,336 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Tarsus Pharmaceuticals by 4.3% in the first quarter. Rhumbline Advisers now owns 51,682 shares of the company's stock valued at $2,655,000 after purchasing an additional 2,148 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

About Tarsus Pharmaceuticals

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.