Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) - Equities research analysts at William Blair raised their Q1 2024 earnings estimates for shares of Tarsus Pharmaceuticals in a research report issued on Wednesday, April 17th. William Blair analyst T. Lugo now forecasts that the company will earn ($1.16) per share for the quarter, up from their prior forecast of ($1.36). The consensus estimate for Tarsus Pharmaceuticals' current full-year earnings is ($4.55) per share. William Blair also issued estimates for Tarsus Pharmaceuticals' FY2024 earnings at ($3.97) EPS and FY2025 earnings at ($1.85) EPS.
Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported ($1.31) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.37) by $0.06. The business had revenue of $13.08 million for the quarter, compared to analyst estimates of $4.63 million. During the same quarter in the previous year, the company earned ($0.49) EPS.
A number of other research analysts have also issued reports on the stock. Barclays increased their target price on shares of Tarsus Pharmaceuticals from $40.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 28th. Lifesci Capital reaffirmed an "outperform" rating on shares of Tarsus Pharmaceuticals in a report on Tuesday, December 26th. Jefferies Financial Group upped their price target on shares of Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the stock a "buy" rating in a report on Wednesday, March 6th. The Goldman Sachs Group upped their price target on shares of Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, February 29th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $59.00 price target (up previously from $55.00) on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 28th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Tarsus Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $48.38.
Check Out Our Latest Report on Tarsus Pharmaceuticals
Tarsus Pharmaceuticals Stock Performance
Shares of NASDAQ:TARS traded down $0.41 on Friday, reaching $32.44. 629,324 shares of the company's stock were exchanged, compared to its average volume of 743,975. The company has a fifty day moving average of $33.83 and a 200-day moving average of $24.33. Tarsus Pharmaceuticals has a twelve month low of $12.57 and a twelve month high of $40.40. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -6.99 and a beta of 1.05. The company has a current ratio of 6.93, a quick ratio of 6.85 and a debt-to-equity ratio of 0.15.
Hedge Funds Weigh In On Tarsus Pharmaceuticals
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in Tarsus Pharmaceuticals by 0.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 139,151 shares of the company's stock valued at $1,749,000 after acquiring an additional 600 shares during the period. Tower Research Capital LLC TRC increased its position in Tarsus Pharmaceuticals by 22.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,560 shares of the company's stock valued at $92,000 after acquiring an additional 824 shares during the period. Rhumbline Advisers increased its position in Tarsus Pharmaceuticals by 3.3% in the 1st quarter. Rhumbline Advisers now owns 28,518 shares of the company's stock valued at $358,000 after acquiring an additional 924 shares during the period. UBS Group AG increased its position in Tarsus Pharmaceuticals by 37.0% in the 1st quarter. UBS Group AG now owns 4,226 shares of the company's stock valued at $71,000 after acquiring an additional 1,142 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Tarsus Pharmaceuticals by 13.0% in the 4th quarter. JPMorgan Chase & Co. now owns 11,351 shares of the company's stock valued at $167,000 after acquiring an additional 1,309 shares during the period. Institutional investors own 90.01% of the company's stock.
Insider Activity at Tarsus Pharmaceuticals
In related news, CEO Bobak R. Azamian sold 10,415 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $30.60, for a total value of $318,699.00. Following the completion of the transaction, the chief executive officer now owns 26,456 shares of the company's stock, valued at approximately $809,553.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Bobak R. Azamian sold 10,415 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $30.60, for a total value of $318,699.00. Following the completion of the transaction, the chief executive officer now owns 26,456 shares of the company's stock, valued at approximately $809,553.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Bryan Wahl sold 4,436 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $30.60, for a total transaction of $135,741.60. Following the completion of the transaction, the general counsel now directly owns 40,951 shares of the company's stock, valued at approximately $1,253,100.60. The disclosure for this sale can be found here. Insiders sold a total of 24,496 shares of company stock valued at $749,578 in the last quarter. Insiders own 11.54% of the company's stock.
About Tarsus Pharmaceuticals
(
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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.
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