Raymond James Financial Inc. Buys Shares of 19,999 Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Raymond James Financial Inc. bought a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 19,999 shares of the company's stock, valued at approximately $1,107,000. Raymond James Financial Inc. owned 0.05% of Tarsus Pharmaceuticals as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new position in Tarsus Pharmaceuticals in the fourth quarter valued at approximately $25,000. R Squared Ltd purchased a new stake in Tarsus Pharmaceuticals during the fourth quarter worth $53,000. HighTower Advisors LLC purchased a new stake in shares of Tarsus Pharmaceuticals in the fourth quarter valued at approximately $207,000. Victory Capital Management Inc. purchased a new stake in shares of Tarsus Pharmaceuticals during the fourth quarter worth about $223,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Tarsus Pharmaceuticals during the 4th quarter worth $227,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Stock Down 5.0 %

TARS stock traded down $2.35 during midday trading on Friday, hitting $44.79. The company's stock had a trading volume of 365,508 shares, compared to its average volume of 693,755. Tarsus Pharmaceuticals, Inc. has a 52-week low of $20.08 and a 52-week high of $57.28. The firm has a 50-day simple moving average of $48.26 and a 200-day simple moving average of $49.02. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.88 billion, a P/E ratio of -11.76 and a beta of 0.94.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.05. The company had revenue of $78.34 million for the quarter, compared to the consensus estimate of $72.50 million. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. As a group, equities analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TARS shares. Guggenheim upped their price objective on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Oppenheimer lifted their price target on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, January 22nd. HC Wainwright reissued a "buy" rating and set a $73.00 target price on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. The Goldman Sachs Group upped their price target on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a "neutral" rating in a research note on Monday. Finally, Barclays reduced their price objective 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. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tarsus Pharmaceuticals has a consensus rating of "Buy" and an average target price of $66.33.

Insider Buying and Selling

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 6,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was 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. This represents a 0.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Bryan Wahl sold 3,341 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total transaction of $154,654.89. Following the completion of the transaction, the general counsel now directly owns 58,057 shares in the company, valued at $2,687,458.53. This represents a 5.44 % 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 90 days. 8.25% of the stock is owned by insiders.

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.