The Manufacturers Life Insurance Company Purchases 13,848 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

The Manufacturers Life Insurance Company raised its position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 42.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,777 shares of the company's stock after acquiring an additional 13,848 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.12% of Tarsus Pharmaceuticals worth $2,590,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Lord Abbett & CO. LLC raised its position in shares of Tarsus Pharmaceuticals by 115.2% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company's stock worth $70,873,000 after purchasing an additional 685,111 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Tarsus Pharmaceuticals by 2,088.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company's stock valued at $14,477,000 after purchasing an additional 420,057 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its holdings in Tarsus Pharmaceuticals by 5,636.3% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 404,237 shares of the company's stock worth $22,383,000 after buying an additional 397,190 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Tarsus Pharmaceuticals by 14.8% in the fourth quarter. Jennison Associates LLC now owns 2,500,132 shares of the company's stock worth $138,432,000 after buying an additional 321,552 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Tarsus Pharmaceuticals by 36.7% during the fourth quarter. Invesco Ltd. now owns 932,115 shares of the company's stock valued at $51,611,000 after buying an additional 250,018 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TARS shares. HC Wainwright restated a "buy" rating and issued a $73.00 price objective on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 26th. Guggenheim upped their price target on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Jefferies Financial Group lifted their price objective on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. The Goldman Sachs Group upped their target price on shares of Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Finally, Oppenheimer raised their price target on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $66.33.

Tarsus Pharmaceuticals Stock Performance

NASDAQ TARS traded down $2.74 during trading hours on Tuesday, hitting $41.46. 1,557,432 shares of the company's stock traded hands, compared to its average volume of 694,392. Tarsus Pharmaceuticals, Inc. has a 52 week low of $20.08 and a 52 week high of $57.28. The firm has a market capitalization of $1.74 billion, a P/E ratio of -10.88 and a beta of 0.94. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30. The business's fifty day moving average price is $48.21 and its two-hundred day moving average price is $49.19.

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

Insiders Place Their Bets

In related news, CEO Bobak R. Azamian sold 6,000 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the sale, the chief executive officer now owns 824,106 shares of the company's stock, valued at $41,205,300. This represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Bryan Wahl sold 3,084 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $154,539.24. Following the transaction, the general counsel now owns 51,712 shares of the company's stock, valued at $2,591,288.32. This trade represents a 5.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,542 shares of company stock worth $1,581,173 in the last three months. 8.25% of the stock is owned by company insiders.

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.