Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Down 5.2%

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) fell 5.2% during trading on Friday . The stock traded as low as $36.07 and last traded at $36.28. 49,046 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 762,329 shares. The stock had previously closed at $38.29.

Analyst Upgrades and Downgrades

Several research firms recently commented on TARS. Barclays increased their price objective on Tarsus Pharmaceuticals from $40.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, February 28th. HC Wainwright upped their target price on Tarsus Pharmaceuticals from $50.00 to $57.00 and gave the company a "buy" rating in a report on Wednesday, February 28th. Jefferies Financial Group upped their target price on Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, March 6th. Oppenheimer restated an "outperform" rating and issued a $59.00 target price (up from $55.00) on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group upped their target price on Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the company a "neutral" rating in a report on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $48.38.

Tarsus Pharmaceuticals Stock Down 5.5 %

The business has a fifty day moving average of $33.29 and a 200 day moving average of $23.59. The company has a market capitalization of $1.24 billion, a PE ratio of -7.70 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.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported ($1.31) EPS for the quarter, beating analysts' consensus estimates of ($1.37) by $0.06. The firm had revenue of $13.08 million for the quarter, compared to analysts' expectations of $4.63 million. During the same quarter last year, the business earned ($0.49) earnings per share. Equities research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -4.59 EPS for the current year.

Insider Activity

In other news, CEO Bobak R. Azamian sold 10,415 shares of Tarsus Pharmaceuticals stock in a transaction dated Monday, March 18th. The stock was 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 in the company, valued at approximately $809,553.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Bobak R. Azamian sold 10,415 shares of Tarsus Pharmaceuticals stock in a transaction dated Monday, March 18th. The stock was 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 in the company, valued at approximately $809,553.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Aziz Mottiwala sold 4,766 shares of Tarsus Pharmaceuticals stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $30.60, for a total value of $145,839.60. Following the completion of the transaction, the insider now owns 54,075 shares of the company's stock, valued at approximately $1,654,695. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,496 shares of company stock worth $749,578. 11.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in TARS. Royal Bank of Canada lifted its stake in Tarsus Pharmaceuticals by 122.0% during the second quarter. Royal Bank of Canada now owns 2,817 shares of the company's stock worth $50,000 after purchasing an additional 1,548 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Tarsus Pharmaceuticals by 310.1% during the third quarter. Tower Research Capital LLC TRC now owns 3,736 shares of the company's stock worth $66,000 after purchasing an additional 2,825 shares during the last quarter. UBS Group AG increased its position in Tarsus Pharmaceuticals by 37.0% during the first quarter. UBS Group AG now owns 4,226 shares of the company's stock worth $71,000 after buying an additional 1,142 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Tarsus Pharmaceuticals by 362.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,832 shares of the company's stock worth $78,000 after buying an additional 3,004 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Tarsus Pharmaceuticals by 22.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,560 shares of the company's stock worth $92,000 after buying an additional 824 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

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.