Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Shares Sold by LPL Financial LLC

LPL Financial LLC reduced its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 44.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,468 shares of the company's stock after selling 5,125 shares during the period. LPL Financial LLC's holdings in Tarsus Pharmaceuticals were worth $358,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new stake in Tarsus Pharmaceuticals during the 4th quarter valued at approximately $53,000. HighTower Advisors LLC acquired a new stake in shares of Tarsus Pharmaceuticals during the fourth quarter worth approximately $207,000. Victory Capital Management Inc. acquired a new stake in Tarsus Pharmaceuticals in the fourth quarter valued at $223,000. Oppenheimer & Co. Inc. bought a new position in Tarsus Pharmaceuticals during the 4th quarter valued at $227,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in Tarsus Pharmaceuticals during the 4th quarter worth $249,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tarsus Pharmaceuticals news, insider Dianne C. Whitfield sold 2,315 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total value of $107,161.35. Following the sale, the insider now directly owns 50,751 shares in the company, valued at approximately $2,349,263.79. The trade was a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bobak R. Azamian sold 6,000 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief executive officer now directly owns 824,106 shares of the company's stock, valued at $41,205,300. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,542 shares of company stock worth $1,581,173 over the last ninety days. Company insiders own 8.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TARS shares. Guggenheim reaffirmed a "buy" rating and set a $78.00 price target (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a research report on Monday, February 24th. Oppenheimer increased their target price on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, January 22nd. Jefferies Financial Group lifted their price objective on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Barclays dropped their target price on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $73.00 price target on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tarsus Pharmaceuticals currently has an average rating of "Buy" and a consensus price target of $63.67.

Tarsus Pharmaceuticals Stock Performance

Shares of Tarsus Pharmaceuticals stock traded down $1.56 during trading on Thursday, hitting $50.36. 54,467 shares of the stock were exchanged, compared to its average volume of 691,276. The stock has a market cap of $1.93 billion, a PE ratio of -13.24 and a beta of 0.94. The stock's fifty day moving average is $47.73 and its 200 day moving average is $48.57. Tarsus Pharmaceuticals, Inc. has a 12 month low of $20.08 and a 12 month high of $57.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share for the quarter, beating analysts' consensus estimates of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. The company had revenue of $66.41 million for the quarter, compared to analysts' expectations of $58.80 million. As a group, sell-side analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

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.