Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Climb 3.8% - Time to Buy?

Key Points

• Tarsus Pharmaceuticals shares rose 3.8% to about $75.96, although trading volume was roughly 80% below the average. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $100.86.
• The company exceeded revenue expectations with quarterly revenue of $173.91 million, but its adjusted loss of $0.43 per share was wider than the expected $0.19 loss. Analysts anticipate a full-year loss of approximately $4.25 per share.
• Insiders sold $4.0 million of stock over the past three months under pre-arranged trading plans, while institutional investors own 90.01% of the company. Tarsus’ primary product is XDEMVY, an FDA-approved treatment for Demodex blepharitis.

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) traded up 3.8% during mid-day trading on Monday. The company traded as high as $75.78 and last traded at $75.9610. Approximately 145,805 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 747,714 shares. The stock had previously closed at $73.16.

Analyst Ratings Changes

TARS has been the topic of several research analyst reports. HC Wainwright restated a "buy" rating and set a $88.00 price target on shares of Tarsus Pharmaceuticals in a report on Thursday, July 9th. Guggenheim dropped their price target on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a "buy" rating on the stock in a research note on Tuesday, July 21st. Barclays assumed coverage on Tarsus Pharmaceuticals in a report on Wednesday, September 16th. They set an "overweight" rating and a $110.00 price objective for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Finally, Wall Street Zen cut Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $100.86.

Tarsus Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 3.20 and a quick ratio of 3.17. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of -69.28 and a beta of 0.44. The stock's 50 day simple moving average is $74.50 and its 200-day simple moving average is $67.24.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The business had revenue of $173.91 million for the quarter, compared to analyst estimates of $169.65 million. Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%. On average, analysts expect that Tarsus Pharmaceuticals, Inc. will post -4.25 EPS for the current fiscal year.

Insider Buying and Selling

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 10,000 shares of the firm's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $90.56, for a total transaction of $905,600.00. Following the transaction, the chief executive officer directly owned 827,991 shares in the company, valued at $74,982,864.96. This trade represents a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Phd Link sold 12,500 shares of the firm's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $78.38, for a total value of $979,750.00. Following the transaction, the director owned 94,487 shares in the company, valued at approximately $7,405,891.06. This trade represents a 11.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 48,031 shares of company stock worth $4,004,227. Corporate insiders own 9.64% of the company's stock.

Institutional Trading of Tarsus Pharmaceuticals

Several large investors have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its position in shares of Tarsus Pharmaceuticals by 139.2% during the 1st quarter. Parallel Advisors LLC now owns 500 shares of the company's stock worth $35,000 after purchasing an additional 291 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Tarsus Pharmaceuticals by 851.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 590 shares of the company's stock valued at $46,000 after purchasing an additional 528 shares during the period. PNC Financial Services Group Inc. grew its holdings in Tarsus Pharmaceuticals by 367.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 710 shares of the company's stock valued at $50,000 after buying an additional 558 shares during the last quarter. State of Wyoming acquired a new stake in Tarsus Pharmaceuticals in the 2nd quarter valued at approximately $103,000. Finally, Rockefeller Capital Management L.P. grew its holdings in Tarsus Pharmaceuticals by 15.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company's stock valued at $105,000 after buying an additional 172 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company concentrates on areas of significant unmet need in ophthalmology and aims to address conditions that can affect ocular health, comfort and vision.

Tarsus' primary product is XDEMVY (lotilaner ophthalmic solution) 0.25%, an eye drop approved by the U.S. Food and Drug Administration in 2023 for the treatment of Demodex blepharitis.

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